V-Flyer

Ok, I just got a letter from MBNA offering to "upgrade"[ii] my existing fee Mastercard to an AMEX. Having just successfully argued my Mastercards annual fee down from £80 to £20 (Due to the loss of benefits after December), I wasn’t considering changing until I read this in the letter:

If you choose to upgrade, your new annual fee will bee £115, but it won't have to be paid until your next fee anniversary.

So the question is if I "upgrade" my card and cancel it before the 1st anniversary do I get charged?