Cameron DiGiovanni, Writer
@cdigiovanni20
Credit One does not refund annual fees after the fee has been paid. The only time you can cancel a Credit One card without being held liable for the fee is if you do so before paying even part of the annual fee or making a transaction during a new account year. Some Credit One cards charge a portion of the annual fee every month for 12 months, rather than annually. Cardholders who get charged 1/12 of the annual fee each month are only responsible for paying the annual fee up until the month in which they cancel their card. So, while the annual fee isn't refunded, some Credit One cardholders essentially only pay a prorated amount when they cancel their card.
Whether your card assesses the fee on a monthly or annual basis depends on the cardholder agreement you receive once you're approved for a Credit One card.
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People also ask
How do you get a credit card annual fee waived?
You can get your credit card annual fee waived by getting a credit card that waives the annual fee during the first year as a promotion, or one with no annual fee at all. Alternatively, you can call the issuer’s retention line, but it is not guaranteed that it will work. Beyond that, you’re unlikely to get your credit card’s annual fee waived unless you’re an active-duty member of the military.
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Credit cards with annual fees are worth it when they offer rewards and perks that save you more money than you pay in fees. Having a card with an annual fee is an especially wise move when it will save you more than the best offer without an annual fee. When that stops being true, you can close the account.
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