Last year I got a Chase Sapphire Preferred card to take advantage of the big sign-up bonus. I want to cancel the card soon (or downgrade it to regular old Sapphire) so that I don't have to pay the annual fee once it kicks in at the one-year mark.
I'm wondering when I should cancel the card. Do I wait until the annual fee is posted and then call to cancel the card and get the fee removed, or do I need to cancel the card before the annual fee is posted?
Thanks for any guidance!