How much do you spend on CC annual fees? (total)

[K-in-Boston]

One important delineation to make here would be how much someone pays for true travel rewards cards vs non-rewards cards (esp. CapOne, Credit One, etc. since those seem to offer no or small rewards).  I'm sure everyone else here who has chimed in for the $1000+ club has done the math to make sure that they are getting more value out of their cards than the annual fee.  I'm conservatively getting 4-5x my investment back on the AFs without even taking into account any signup bonuses.  ANY annual fee can be well worth it if the return is right and it fits your spending.

[Anonymous]

$0.00

I'm all for the anti-fee. From what I've seen, AMEX BCP is only one worthwhile for me someday for 6% groceries. That is, if you don't travel. And I do not travel.

[wasCB14]

If you are someone who avoids AF cards (including cards with the first year's fee waived), how much do you spend on travel?

[BronzeTrader]

I spent $1,979 on card AFs, CSR, Chase Ritz and AmEx Plat (not counting Costco AF).  Add $580 and $190 for two other family members.  

I've already cut down some of the travel cards, such as Southwest, AAA and personal Marriott.  Look to chop down PRG and downgrade Aviator Red and possibly Gold Delta.

[Anonymous]

DW    Amex BCP $95  also $48 for an old rebuilder she has a 4 or 5 year old merrick card with over a $3K limit she pays $48 

She keeps it for the age. Not a bad rebuilder limit.  It should go next year.   

[Anonymous]

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@Anonymous wrote:

$0.00

I'm all for the anti-fee. From what I've seen, AMEX BCP is only one worthwhile for me someday for 6% groceries. That is, if you don't travel. And I do not travel.

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Yup, the math on BCP works for me too.  Get gas 3% as well.  Once zero APR ends on my AMEX Everyday, I will be adding 95$ to my current AF total of Zero for this card.

I may consider Delta Platinum as well, depending how my travel looks.  Currently I don't travel enough to make that one worth while.

[arkane]

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@wasCB14 wrote:

If you are someone who avoids AF cards (including cards with the first year's fee waived), how much do you spend on travel?

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Good question, and you might be onto something here. I travel once a year, maybe twice if the situation necessitates, but overall I'd say I don't really do much travelling. So any AF cards have very little use to me. And given that most AF cards are travel cards (with the exception of Amex BCP and maybe some others I can't think of right now), it's no surprise I find them unappealing.

@Anonymous wrote:

@Anonymous wrote:

$0.00

I'm all for the anti-fee. From what I've seen, AMEX BCP is only one worthwhile for me someday for 6% groceries. That is, if you don't travel. And I do not travel.

Yup, the math on BCP works for me too.  Get gas 3% as well.  Once zero APR ends on my AMEX Everyday, I will be adding 95$ to my current AF total of Zero for this card.

I may consider Delta Platinum as well, depending how my travel looks.  Currently I don't travel enough to make that one worth while.

 If you absolutely despise fees, then Amex BCE + FNBO Ducks Unlimited (or NRA card) gives the best groceries (3%) +gas (5%) combo.

Unless you have lots of cash kicking around (I'm talking $100,000+), then BoA Cash Rewards + highest tier preferred rewards will get you 5.25% on gas and 3.5% on groceries for 0 AF. (although capped at $2500 combined gas/groceries per quarter)

[K-in-Boston]

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@arkane wrote:

Unless you have lots of cash kicking around (I'm talking $100,000+), then BoA Cash Rewards + highest tier preferred rewards will get you 5.25% on gas and 3.5% on groceries for 0 AF. (although capped at $2500 combined gas/groceries per quarter) 

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That could also be IRAs and other accounts in addition to the usual deposit accounts.  Honestly, unless someone is heavily invested in maximizing points/miles it would almost be inexcusable for anyone with Platinum Preferred Honors to not pay the $95 AF for the Premium Rewards card, which would be completely uncapped 3.5% travel and dining, and 2.625% on everything else.  The AF would be break-even at just over $300 a month in spending on solely non-category purchases and there are also those $100 credits to consider.

[UpperNwGuy]

Moving one's investment accounts to Merrill just to get better credit card rewards at BoA would be an example of the tail wagging the dog.  Please invest your money where you can get the best total return on your portfolio.  If you've decided upon Merrill, then enjoy the credit card rewards at BoA.  Otherwise ignore this temptation.  The credit card rewards will likely turn out to be small potatoes next to investment returns.

[Anonymous]

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@K-in-Boston wrote:

One important delineation to make here would be how much someone pays for true travel rewards cards vs non-rewards cards (esp. CapOne, Credit One, etc. since those seem to offer no or small rewards).  I

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Yes, and also applies to an extent to non-travel "true" reward cards like BCP, where paying a fee can be clearly worthwhile (with appropriate assumptions).

To channel yfan though, sometimes the "justify annual fee" calculations can be too simplistic.   For example, at a certain spending level, the BCP is better than the BCE, but if you can get the same stuff for cheaper at a store that Amex doesn't consider a supermarket, a 2% V/M might be better.   And for travel, cheaper flights through consolidators may save you more (less likely on aspirational reward travel, premium cabin international).

But if you have a fairly good picture of your likely future spending, it makes little sense to go out of your way to avoid AFs, it's just part of the value proposition for choosing a card, using the famous LongTimeLurker criterion: "Will this card, given my spending patterns, net me as least as much rewards (by whichever way I choose to value) as any other card I can reasonably expect to get?"    

Those against AF, would you pay $10 AF for a card that gives you 50% back on every purchase?   Hope so!

IMO, the only reason to avoid, as some earlier poster said, is if you are not sure you will meet the needed spend and don't want to feel pressured.   Otherwise, evaluate on the total reward and cost vs alternatives.