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Annual Fees on cards!!

Valued Contributor

Re: Annual Fees on cards!!


ilovelisa wrote:

chnceit wrote:

Most AF's are associated with rewards and some AF's are worth it IMO


Some, but certainly not cards like CapOne platinum, no rewards, with a $19 AF, and other cards like that.


Yes, but a AF is associated with CapOne because its a rebuilder cards. Gotta say CapOne is way better than Merrick's monthly AF. Its what you pay for when you need it


Last Pulled EQ: 809
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Message 11 of 56
Valued Contributor

Re: Annual Fees on cards!!


VWTUNER wrote:

really $1200? 


Yes, just checked.  My year end statement (from Feb) lists $1100 back, this doesn't include the stuff from Dec.  This includes $150 sign up, about $50 from gas and others, and the rest from $19K grocery spending (so for the Feb-Jan it will be more like $1400).  Now some of the groceries might have been those thin plastic groceries that you can take to other stores, not a lot but as the cap approaches, we did get some more of those.   But this is mainly our family spend at Whole Foods, so we need all that cash back!

 

So the cap that allows only $6K of groceries at 6% is really annoying....

Message 12 of 56
Established Contributor

Re: Annual Fees on cards!!

I thought Amex capped grocery spending.?.

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 13 of 56
Valued Contributor

Re: Annual Fees on cards!!


ilovelisa wrote:

I thought Amex capped grocery spending.?.


Starting when your card renews.  So starting Feb, only on 6K.   Once that is exhausted, I will switch to Penfed for 3% uncapped, but the glory days of BCP are gone.

Message 14 of 56
Established Contributor

Re: Annual Fees on cards!!


bs6054 wrote:

ilovelisa wrote:

I thought Amex capped grocery spending.?.


Starting when your card renews.  So starting Feb, only on 6K.   Once that is exhausted, I will switch to Penfed for 3% uncapped, but the glory days of BCP are gone.


Ohh ok.

 

Do you own a restaurant or something, because still, 19k is a alot on groceries lol

EDIT: I just read about your small plastic groceries lol

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 15 of 56
Valued Contributor

Re: Annual Fees on cards!!


ilovelisa wrote:

bs6054 wrote:

ilovelisa wrote:

I thought Amex capped grocery spending.?.


Starting when your card renews.  So starting Feb, only on 6K.   Once that is exhausted, I will switch to Penfed for 3% uncapped, but the glory days of BCP are gone.


Ohh ok.

 

Do you own a restaurant or something, because still, 19k is a alot on groceries lol


No, we work in drug and gun smuggling, hide them in groceries and send them to the destination.  Oops, probably shouldn't have said that.

 

 

Message 16 of 56
Valued Contributor

Re: Annual Fees on cards!!


ilovelisa wrote:

bs6054 wrote:

ilovelisa wrote:

I thought Amex capped grocery spending.?.


Starting when your card renews.  So starting Feb, only on 6K.   Once that is exhausted, I will switch to Penfed for 3% uncapped, but the glory days of BCP are gone.


Ohh ok.

 

Do you own a restaurant or something, because still, 19k is a alot on groceries lol

EDIT: I just read about your small plastic groceries lol


My fiancee and I spent 15k on groceries last year, and there's only 2 of us plus a dog. It's possible.

 

AF cards are primarily geared towards high-spenders. If you don't spend very much, they probably won't work for you.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
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Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 17 of 56
Moderator

Re: Annual Fees on cards!!


bs6054 wrote:

No, we work in drug and gun smuggling, hide them in groceries and send them to the destination.  Oops, probably shouldn't have said that.

 

 


Cat Tongue

 

I don't have a problem paying an AF on rebuilders either; the 120 or so I'm spending in AF's this year is absurdly trivial if it even knocks off a fraction of a percentage point in my eventual mortgage interest rate.

 

AF's much like subprime interest rates on loans don't last forever if you don't fall into a spend category which justifies an AF, and access to cheaper money is very much worth a comparitively small investment in annual fees.

 

Edits: fun with the lithium quote function!

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
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Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 18 of 56
New Contributor

Re: Annual Fees on cards!!

15K for 2 people seems a little on the high side, but 20K for a family of 4 or even 3 is totally normal.

Message 19 of 56
Valued Contributor

Re: Annual Fees on cards!!

I have earned 90,000 points ($1800) on my flexperks card since I opened it in June. I find that worth the $49 AF that is waived with $2k monthly spend.

 

I also find the $450 AF on the AMEX plat worth it with the 100k MR point bonus, lounge access, and $200 incidental credit.

 

Generally, I find AF's on starter cards a bad idea. Most of the time somebody can find a way around that if they build a relationship with a bank. Although, the AeroMexico secured card from US Bank seems worthly of its terms for somebody with no/bad credit and no relationship with a bank.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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Message 20 of 56