I remember seeing a bunch of people asking this in a few palces and websites. I am happy to report that I was able to cancel my USBAR card after the annual fee posted, used the $325 and got the annual fee refunded, as I was in the 30 day cancellation window.
Like most, I am looking to move to use another card full time now that the USBAR got nerfed. Here was my timeline:
Sep 26: AF posted
Sep 30: all $325 of the benefit used
Sep 30: Did RTR “hack” to use up a lot of my left over points and get it back as statement/cash at the optimal return rate.
Oct 5: requested cancellation of USBAR card, and refund of the annual fee. Customer service rep said they would put in a ticket/request for the refund and it should post in 10 business days. Card now cancelled.
Oct 10: AF refund posted, called back to request a chain for the negative amount, and all good and check mailed.
One note, make sure you use up all of your reward points before you call to cancel. I don’t know if it matters, i’ve had a USBank account for 20+ years, move a decent amount of money through it, even before USBAR. But that was my experience.