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(Video) Sunday Reader Question: Avoiding Credit Annual Fees and Keeping Points

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TPG reader Serena asks:

“Many of the cards have a $0 introductory annual fee, but then some sort of annual fee after that.  Do you keep the card after a year and pay the annual fee, or transfer your points and close the account once the year is up?  And does that do anything to your credit report?”

Here are some of the factors you need to consider when deciding whether to keep a card or cancel it before the annual fee is due:

As always, do the math and consider how much value you get from a card and the points it earns you before deciding whether to keep it or cancel it.
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