AMEX annual fees

[Anonymous]

So I'm getting my first card ever with an annual fee ($65) and thinking about how much I have to push through this baby just to cancel out the fee, let alone net a profit. I noticed AMEX has some incredibly expensive cards, even the Green card is an astounding $95. I can't imagine forking over the $175 for PR Gold or $450 for Platinum.

Just wondering for people with these high AF cards (Amex or otherwise), do you actually earn enough rewards to offset the cost of carrying the card? Or is the satisfaction of carrying one of these cards enough.

[Anonymous]

IMO, i comes down to needs, benefits, spending habits, and in some cases prestige.

Someone who spends right and (knows what their needs are) gets a great value for their AF on a prime card. 

[-Cain-]

I have Green with first year AF waived and $95 thereafter. I got it for the benefits AmEx offers but also to try and hurry my way into a revolver with cashback where I'd surely make enough rewards to offset the AF. If that doesn't work out, I can always downgrade to Zync and pay less. The backdating that AmEx offers will be a great bonus itself down the line.

[Anonymous]

Purely based on the rewards from the MR points, you'd have to run a lot through the card every year. Which I can see if you're incredibly wealthy, or put a lot of business expenses on your personal card.

But I for most people, it's the other benefits (like the concierge service) that draws them to the card.

That, or it could really just be that people want to brag about having an Amex platinum card.

[Anonymous]

I have the Green card. I was approved for it last year and it backdated to 1987. The first year's fee was waived, but I'll gladly pay the $95 fee when it comes up. There's no other issuer that magically gives me 25 years worth of age to my credit reports. Also, when I factor in statement credits for things like Small Business Saturday and other such promotions, it helps take the sting out of the AF. But more than anything, the backdating feature is just worth it to me.

[Anonymous]

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@Anonymous wrote:

Purely based on the rewards from the MR points, you'd have to run a lot through the card every year. Which I can see if you're incredibly wealthy, or put a lot of business expenses on your personal card.

But I for most people, it's the other benefits (like the concierge service) that draws them to the card.

That, or it could really just be that people want to brag about having an Amex platinum card.

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I have no experience with AF cards, but I agree with this.  If you're paying a $450 AF, $450 is probably pocket change for you and you are more concerned with the non-cash benefits you get. 

[Anonymous]

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@Anonymous wrote:

IMO, i comes down to needs, benefits, spending habits, and in some cases prestige.

Someone who spends right and (knows what their needs are) gets a great value for their AF on a prime card. 

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Great point. For something like the BCP if you're spending habits align with the rewards then it's a good deal. I can also see why someone would want the Platinum for the lounge access and travel perks. I guess I am more curious about Green and Gold (non PR), why someone would pay $95-125 for a charge card with rewards of 1 MR point/dollar spent when there are some great rewards cards out there with no AF. Not judging, just curious.

[Anonymous]

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@Anonymous wrote:

So I'm getting my first card ever with an annual fee ($65) and thinking about how much I have to push through this baby just to cancel out the fee, let alone net a profit. I noticed AMEX has some incredibly expensive cards, even the Green card is an astounding $95. I can't imagine forking over the $175 for PR Gold or $450 for Platinum.

Just wondering for people with these high AF cards (Amex or otherwise), do you actually earn enough rewards to offset the cost of carrying the card? Or is the satisfaction of carrying one of these cards enough.

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Yes 

It's amazing how much money a family of 7 spends  I paid a $59AF with my Orchard for 6 years. Do you know what I got? NOTHING besides 6 years of history on my CR which is worth the AF for someone (like me) who was re-building. Actually HSBC refied an auto loan with me at a lower rate a while back AND gave me a 2nd auto loan when I needed a truck for work! So I'm accustomed to AF's and budget accordingly. This year I will be able to get something out of my spending.

[afbar1114]

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@Anonymous wrote:

So I'm getting my first card ever with an annual fee ($65) and thinking about how much I have to push through this baby just to cancel out the fee, let alone net a profit. I noticed AMEX has some incredibly expensive cards, even the Green card is an astounding $95. I can't imagine forking over the $175 for PR Gold or $450 for Platinum.

Just wondering for people with these high AF cards (Amex or otherwise), do you actually earn enough rewards to offset the cost of carrying the card? Or is the satisfaction of carrying one of these cards enough.

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i think that paying the AF for some cards is worth it. I have the Zync and i pay $65 because i added to packs that i will use alot. i already got $10 back in Gift cards from them  and i only had the card for like 2 weeks. its also the CS. they by far have the best. very very understandable. i plan on staying with amex for a long long time. maybe doing a PC to a green or gold card or getting one of them. in a year or so.

[Anonymous]

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@afbar1114 wrote:

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@Anonymous wrote:

So I'm getting my first card ever with an annual fee ($65) and thinking about how much I have to push through this baby just to cancel out the fee, let alone net a profit. I noticed AMEX has some incredibly expensive cards, even the Green card is an astounding $95. I can't imagine forking over the $175 for PR Gold or $450 for Platinum.

Just wondering for people with these high AF cards (Amex or otherwise), do you actually earn enough rewards to offset the cost of carrying the card? Or is the satisfaction of carrying one of these cards enough.

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i think that paying the AF for some cards is worth it. I have the Zync and i pay $65 because i added to packs that i will use alot. i already got $10 back in Gift cards from them  and i only had the card for like 2 weeks. its also the CS. they by far have the best. very very understandable. i plan on staying with amex for a long long time. maybe doing a PC to a green or gold card or getting one of them. in a year or so.

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I'm not exactly sure if you can PC a Zync. I believe it is its own seperate product. A Green/Gold charge might be a new application, and a new HP.