Cancelling CC right after approval..
Today, I read about the cap on the max return one can get from it (it's nowhere in the legal disclosure, or on the website.)
I found an Amex that I like better and would like to go for instead. I know I will take a credit hit when I apply for the new one.
If I call in and cancel a card (I haven't received it yet), will I take a credit hit?
What's the best way to handle this?