What is your oldest card with annual Fee and why have you kept it open?

[NaaryalHead]

I'm curious. What is yalls oldest credit card that has an annual fee and what's your reason to keep it open?

I'll go first. I got a secured Bofa card and didn't realize it had an annual fee. It graduated and now is my highest CL card and one of my oldest. I intend to keep it open just because it contributes to my AAoA as well as keep my overall credit util percentage low.

My other card is a Cap one QS1. The one with an annual fee. Made a newbie mistake and signed up for the one variant rather than regular QS. Even though I had no new inquiries for almost a year and good score and could've gotten the non AF one if not for my mistake. I intend to use keep it open for a year or two and close it if cap one doesn't PC it.

My latest card the Citi Premier has a $95 AF. Ima keep it because of the 3.25X points per dollar if you redeem it for airfare and the nice SUB of 50,000 points.

[Anonymous]

I don’t have any cards with an AF and it’s very unlikely that I will get any unless I can easily earn more than the AF and more than I would earn using one of my cash back cards but for your QS1, have you been checking the PC link? It may not have QS but even a PC to Venture One gets you out of the AF and you can PC again in 6 months. 

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

[Shooting-For-800]

Cap One Venture = $59 AF:  12% apr and $30k limit and 2% cash back.  I got grandfathered into lower AF and got a $400 sub.

I also got grandfathered into Savor with no AF so I have no issue paying $59 per year total for two great cards with great credit lines.

Cap One has treated me like a king since I started my rebuild, so I will stay loyal as long as it makes sense.

[Anonymous]

My only card with an AF is the Cap1 QS1. It was a mistake and one that I will only put up with for one year.
While trying to increase my credit scores, I went for the low hanging fruit and was just happy to have something in my wallet.
None of my other cards have an AF.
Have you tried calling BofA to see if they will waive the AF or can PC the card to something without an AF?

[AverageJoesCredit]

Spg/Bonvoy 2 months old, kept open cuz its still a baby

[pinkandgrey]

I have no AF cards. I just don’t like the idea of spending money just to HAVE a credit card. I know I’m not really answering your question lol Sorry about that 

[Anonymous]

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@pinkandgrey wrote:

I have no AF cards. I just don’t like the idea of spending money just to HAVE a credit card. I know I’m not really answering your question lol Sorry about that 

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But....   you are not spending money JUST to have a credit card (unless you have made a very bad choice, like First Premier!)  The fee makes sense if the reward - the fee > net reward of any other card that you could reasonably get.

The BCP is a good example of this for a certain subset, you prepay a fee and, under certain well understood conditions, you get more back than you would on the grocery spend than using another card.   If you don't spend enough, or use different stores, then not.

Like prepaying mortgage points, it makes sense in some situations, not in others.   But I wouldn't say you should never pay points just to get a mortgage.   Sometimes it's the right thing to do.

[kats_rebuild]

My oldest annual fee card is a CSR $450 annual fee. I have had it for 2 years. I will keep it until I no longer get value out of it. I typically only have one annual fee card at a time, but I just applied for and was approved for a Marriott Bonvoy Brilliant. I will likely only keep this card for a year after racking up some points.

[UpperNwGuy]

I have had five cards with annual fees:

-- Citi AAdvantage 1991-2012 (closed because United replaced American as my primary airline)

-- American Express Green Card 2012-2016 (closed because I found little use for MR points)

-- Chase United Club Card 2012-2016 (downgraded to Chase United Explorer)

-- Chase United Explorer 2016-present

-- Chase Sapphire Reserve 2016-present

I've kept the United Explorer and the CSR open because I make one or two trips to Europe each year.  I live in a United hub and always fly United to Europe.  The United Explorer provides several benefits (perks) that I value more than the annual fee.  The CSR earns 3x points for all my travel and dining expenses, and I transfer these points to United miles for award tickets.

[NRB525]

Specific card, oldest continuous card with an AF is Diners Premier. Opened in Oct or Nov 2014. I keep it open because:

1) It is made of Unobtainium, much more exclusive than all these new metal cards that anyone can get.

2) It is Chip+PIN, and Contactless and works with both those features in more advanced countries I visit, outside the behind-the-times US.

3) It has easy lounge access included for only $95 per year.

4) It can contribute points to many frequent flyer and hotel programs, including Alaska Airlines.

As a card family, my oldest AF card is some form of AMEX Delta, starting in March 2013 with the Delta Gold at $2k. Currently evolved (through new apps) to a Delta Reserve because of the included Delta lounge access, free bags, and companion pass.