Remember last year, after a lot of planning I secured the U.S. Bank Altitude Reserve Visa Infinite Card.
I met the minimum spend and received the 50,000 bonus offer. I used the 325 travel credit and even the $100 global entry credit. With the 50,000 bonus point offer I redeemed $500 worth of travel, (I didn’t redeem thru the US Bank site for 1.5 cents per point…long story for another post) and then got another 325 plus 100 for the global entry. I would say that the annual fee of $400 that I initially paid, was worth the $925 in value that I got for it.
Fast forward a year later…I got the bill for the $400 annual fee, which I know is really $75 because of the $325 annual travel credit. However, I don’t even want to pay $75 for a card that i will never use. I asked about a downgrade option, there wasn’t one. I actually forgot that I have another US Bank card, the Radisson Rewards Visa Card, so I failed to inquire if I could transfer my credit line. I didn’t follow my own advice about YOU NEVER WANT TO CANCEL A CARD WITHOUT MOVING YOUR CREDIT LINE IF YOU CAN! Oops. Luckily the credit line was low. Even I may mistakes too. In fact, you can read about many of them here.
Another thing to note, canceling a card has a small impact on your credit score as long as other positive financial factors are in place. You can read about the effect of canceling a card on your credit score here.
Bye Bye U.S. Bank Altitude Reserve Visa Infinite Card, it was a decent run!
