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Welcome to Points for Normal People!

In this episode, I’ll be sharing about the most requested topic for this podcast; when to close your credit cards for maximum value. I’ll break down the various reasons that you may want to cancel a card and then give you a list of questions to ask yourself, to make sure that you get the most out of your card before you cancel. 

If you find yourself new to credit cards and points, I’m here to help you with all the details, keeping it as simple as possible, and making sure that you get the most out of your credit cards for what you value!

ACTION STEPS:

• Begin the process of evaluating your cards, by asking the first question: Do the benefits outweigh the annual fee?
• After you have answered the question above, for any card you are considering canceling, you can ask the following questions: 
  • Will I lose my points if I close this card?
  • Can I combine these points with another card before I cancel?
  • Will I lose the ability to transfer my points to travel partners if I close my card?
  • If yes, am I okay with that?
  • Do I want to transfer points before closing?
  • Are there any benefits I can get one more time?
  • Should I keep this card so I can refer other people to it?
  • How will closing this card affect my relationship with this bank?
  • Do I have at least one card left with this bank?
  • How will closing this card affect my credit score, specifically credit utilization?
  • When can I apply for this card again? 
• Get the free download of the above list of questions here: https://katiestraveltricks.ck.page/12questions
• If you want specifics on certain banks or cards, sign up for our newsletter here and get the free guide: https://katiestraveltricks.com/travel-points-101-quick-start-guide/
• Get the free course, which includes the Southwest Companion Pass Bootcamp module:  learn.katiestraveltricks.com 

New Here?

Hi, I’m Katie from Katie’s Travel Tricks! I am here to help you learn the secrets that my family has been using for over a decade, using everyday expenses and welcome offers to supercharge your points earning. When you learn to do this, you can cover entire vacations every year.

Our family has been to Hawaii, Asia, the Caribbean, Europe — and more — all thanks to strategically earning and redeeming points. We've done this on a limited travel budget and now want to help you do it, too.

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Advertiser Disclosure: Some of the card links and other products that appear on this podcast are from companies which Katie's Travel Tricks will earn an affiliate commission. Katie's Travel Tricks is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. The content in this podcast is accurate as of the posting date. Some of the offers mentioned may no longer be available. Editorial Disclosure: Opinions expressed here are the autho...