If I cancel a credit card right after the annual fee is charged, am I entitled to a refund for the annual fee?

Answer 1

No, the contract for the card will have language that will state the annual fee is due on a specific date and that no part of the fee is refundable.

Answer 2

It's certainly worth asking. I had one that charged if I didn't use the card at least once in the year. I called to cancel the card because of it and they reversed the annual fee. Then just wait a few months and cancel the thing -- with all the credit cards out there, you should not have to pay THEM money to have one.

Answer 3

You need to refer to the Terms of the Credit Card agreement, but most agreements I have seen give you 30 days from the date the annual fee was posted to your Account to cancel the credit card and have the fee reversed.

Answer 4

If you are talking about American Express, yes. If you read the fine print, it says you are entitled to pay the whole amount, cancel the account, then not pay the annual fee.

Answer 5

I wanna say no, you're not entitled to a refund. You should've cancelled it before your card was charged. You can try and ask if they'll refund it, but will probably be denied.

Answer 6

well, it's live & learn... I didn't know you paid any "annual fees" in the land of the free, we certainly don't pay any over here

Answer 7

It depends entirely on your contract with the credit card company. The general answer is not usually.

Answer 8

No , and it will state that in the agreement you signed.

Answer 9

No

Answer 10

no