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That time of year. Annual fees.

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wasCB14
Super Contributor

Re: That time of year. Annual fees.


@Adidas wrote:

I tend to avoid annual fees unless I'm certain they are worth it. Can a few people write out why they think their AF's are worth it?

 

Not trying to critisize, genuinely curious. I imagine you must spend a lot every month to make it worth it? Anyone have a breakeven spreadsheet where they've calculated how much they need to spend each month on their cards to make it worth it? For example my BCP requires me to spend $2500 per year in groceries or I'm better off with the BCE.


IHG is pretty easy. $49 for a hotel room anywhere in the world.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 31 of 45
Adidas
New Contributor

Re: That time of year. Annual fees.

I hadn't noticed that! That is a pretty good deal. However that's probably on the lower end of most of th AF's I've seen here...

FICO 08:743 EQ Bankcard from Citi, 764 EX from AmEx, 747 TU from Disc all updated 8/2017

Discover It $8,600 Since 08/2014 // AmEx BCE $23,100 Since 10/2015 // Citi DC $7,000 Since 06/2016 // BoA BBR $1,800 Since 11/2016 // US Bank Cash+ $3,000 Since 11/2016
Message 32 of 45
Anonymous
Not applicable

Re: That time of year. Annual fees.

Saleen.. You did the math and pay $3K in annual fees. Can you do the math and show us how you're getting your money's worth?
Message 33 of 45
CreditCuriosity
Moderator Emeritus

Re: That time of year. Annual fees.


@Anonymous wrote:
Saleen.. You did the math and pay $3K in annual fees. Can you do the math and show us how you're getting your money's worth?
Honesly it really isnt your business untless he wants to answer.  He is blessed beyond what your or I will ever make in our lifes.  Have a happy holidays.  This thread probably needs to be closed
Message 34 of 45
Anonymous
Not applicable

Re: That time of year. Annual fees.


@Anonymous wrote:
Saleen.. You did the math and pay $3K in annual fees. Can you do the math and show us how you're getting your money's worth?

If he's getting his moneys worth then it's all good. If he's not getting his money's worth and he's deciding on keeping the cards then it's still all good. I was not coming out "positive" on my AmEx Platinum when I first got it and I knew that was the case, but I enjoyed the perks. Now that it has 5x airfare, I am positive on the return (I would have kept it either way).

 

Just gotta open Excel, juggle some numbers, and see what fits you the best! Smiley Happy Only YOU know what's best or worst for YOU!

 

@Anonymous Happy Holidays to you too Smiley Tongue

Message 35 of 45
BronzeTrader
Valued Contributor

Re: That time of year. Annual fees.

I guess whenever someone asks something differ, folks throw flames at him. The same happens to me once. 

 

It's alright folks. At least he is an honest person, paying all the AFs due on him. 

Message 36 of 45
redpat
Senior Contributor

Re: That time of year. Annual fees.

They are not annual fees but the right of passage or dues to get benefits and perks that cards have to offer.

 

 

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 37 of 45
BronzeTrader
Valued Contributor

Re: That time of year. Annual fees.


@redpat wrote:

They are not annual fees but the right of passage or dues to get benefits and perks that cards have to offer.

 

 

It's the same thing with the Centurion card. How many people get the full benefits of it? We never know. It's more social status. The card holders probably don't even have time to churn on CC companies. 
This brings the questions of the folks who applied and received the CSR. Tons of people applied, with many many people declined. With the approved, a lot people want to churn Chase and have no intention of max the card benefits. And a lot folks don't even have that much travel. 
But folks are happy to show off the heavy shinny cards to friends and merchants. Folks are happy. That is all this forum is for....

 

Message 38 of 45
redpat
Senior Contributor

Re: That time of year. Annual fees.


@BronzeTrader wrote:

@redpat wrote:

They are not annual fees but the right of passage or dues to get benefits and perks that cards have to offer.

 

 

It's the same thing with the Centurion card. How many people get the full benefits of it? We never know. It's more social status. The card holders probably don't even have time to churn on CC companies. 
This brings the questions of the folks who applied and received the CSR. Tons of people applied, with many many people declined. With the approved, a lot people want to churn Chase and have no intention of max the card benefits. And a lot folks don't even have that much travel. 
But folks are happy to show off the heavy shinny cards to friends and merchants. Folks are happy. That is all this forum is for....

 


I would tend to disagree.  Most want the benefits and the CSR is huge I'm finding out w/ 1.50x on redemption and 3x travel and dining.  I had CSP and PC'd to FU so with my FU 1.5x and ink plus 5x makes CSR one of my most valuable card.  The same could be said for EDP and PRG for MR accumulation and Plat for travel perks.

 

Some may churn but few would blow $$$ for social status, flash and merchants could care less, most on these forums understand point value and rewards.  

 

As for the Centurion card, that's another league and you just can't app for that one.  

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 39 of 45
BronzeTrader
Valued Contributor

Re: That time of year. Annual fees.

A lot people applied the CSR with 600 level FICO. And a lot people carry balances. The APR on the CSR is not low. And the 1.5x is good for travel. The more you spend, the more you get out of the CSR. I am sure the folks with 600 FICO can't max the benefits. 

 

This is the question of the card clientele. A lot people stretch it. I bet we will see a lot folks cancelling the card after the first year. Chase will be churned. Its cost on CSR now is about $200 MM. 

Message 40 of 45
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