 TITLE: Should I Close a Credit Card I Opened for Holiday Rewards? CONTENT: Is There an Annual Fee?\n-----------------------\nSome credit cards demand an annual fee in exchange for their generous rewards programs. These fees commonly range anywhere from less than $50 to several hundred dollars for high-end rewards cards. Some issuers waive the fee the first year, but others charge it from the start. These fees can be outweighed by a card's reward incentives, but not always, so it's worth doing the math to figure out if the rewards offset the fee for you.\nIf the card you opened has an annual fee and you've already paid it for the first year, it might make sense to keep it open to make sure you get your money's worth. If there's an annual fee you won't pay until the second year, consider how much value you'll get out of the card and whether the fee will justify keeping the account. If you find you like the card but don't want to pay the annual fee, consider contacting the issuer to see if there's another, similar card without an annual fee they could switch you to. This is called a product change and may or may not work depending on the issuer and the cards available. END