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

[UpperNwGuy]

---

@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 

---

Nobody should pay a fee just have a credit card.  However, if you pay a fee and earn miles, points, or cash that exceed the fee, then you are spending money to earn even more money.  My rule is that, not only must the card's earnings repay the fee, but they must also exceed what I could earn on a no-fee 2% cash back card.  For example, the no-fee cash back card beats the CSR if annual spending on travel and dining is less than $6,000 a year.  I spend $8000-10,000 a year on travel and dining, so the CSR, despite its annual fee, is a better deal for me than a no-fee 2% cash back card.

[Blackswizz750]

I have a QS1 from Jan 16. Was first card after almost 8 years at the time. I put a few grand enough to break past the 39 AF. Keep it for small purchases now.

[ChargedUp]

Amex Gold card opened in 2017 as a PRG. Feeding a family with 5 kids, I easily overcome the AF with 4X MR's on groceries alone. Cheesecake Factory once a month is another treat.

My CSP (since 2017) is working together with FU for general spend, dining out and when the wife needs a rental car in her travels. I'm currently looking for UR's more than MR's but by the time we can take a vacation I'll have plenty of both

[Revelate]

I don't quite agree with the nobody should pay a fee just to keep a card open theory.

I flippantly talk about my Zync (opened 9/12, closing in on the 7 year mark) and not giving it up till Amex takes it away from me (and it has a $25 AF) as it is basically a unicorn now; however, there's also a coldly rational pragmatism to it:

The odds that Amex ever takes it away from me unless I file for BK is virtually zip / zero / nada, and the $25 is absolutely irrelevant.

I have a few accounts of which I'm hoping to keep one of them open basically forever, a BOFA card opened 10/11, DCU secured card 2/12, and the Zync at 9/12... I want a tradeline anchor, and while I possibly won't need it the fact is a downturn in the credit market is basically inevitable at some point, and actually probably multiple times throughout the rest of my life, so if I can manage to keep one of these cards open throughout it all, it is an absolute win credit wise.

Ultimately the GSE's seem to be in no hurry to change their UW guidelines, and until they do I'm sticking with my plan... more modern algorithms don't need this, but to max out the older mortgage scores, best to have some oldies laying around.

[wasCB14]

I closed PRG and PCed CSP to CFU.

That leaves my $49 IHG for the renewal night.

[Anonymous]

I think my PRG is my oldest AF card, but they are relatively close in age for the most part. That and my Platinum Delta are the only cards I pay $195 yr, everything else is <$100. I really want the CSR but I'm LOL/24 so I've been waiting for the next 100k SUB to pick up the Platinum to have alongside my PRG. I don't use all of them but they all give me perks that I need in my life like preferred boarding, hotel status/nights, etc. The only AF cards I've closed have been the BCE (rewards didn't justify the AF) and the Barclays AAdvantage (because I also have the Citi AAdvantage). 

When all is said and done I would like to try and keep my AF costs below $3k per year in total.

[Watchmann]

I have an AMEX Gold Card that I've had continuously since 1980, that's my oldest trade line.  I also have a platinum Optima card (no longer issued) which has a CL of $64k.  Those two accounts dated 1980 have a huge effect on my AAoA calculation.  No way am I going to dump them at this point.  I've asked AMEX a few times if they could comp me the AF and they almost always refuse but a few years ago they did remove the fee.  But AMEX really likes to hold on to the AF revenue.

[pinkandgrey]

---

@UpperNwGuy wrote:

---

@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 

---

Nobody should pay a fee just have a credit card.  However, if you pay a fee and earn miles, points, or cash that exceed the fee, then you are spending money to earn even more money.  My rule is that, not only must the card's earnings repay the fee, but they must also exceed what I could earn on a no-fee 2% cash back card.  For example, the no-fee cash back card beats the CSR if annual spending on travel and dining is less than $6,000 a year.  I spend $8000-10,000 a year on travel and dining, so the CSR, despite its annual fee, is a better deal for me than a no-fee 2% cash back card.

---

Totally. I just don’t always spend enough on any particular card to make up for high fees. If I had and used only one or two cards, then I would consider it. But for simplicity’s sake I just avoid the fees. 

[Anonymous]

My oldest AF card is probably my Citi Plat that I got back in 2017. I have racked up around 7 since then. It is kinda crazy paying for a credit card but if you actually use all the benefits to get more value you are actually profiting. With that being said, I do plan to get down till 1 or 2 in the near future.

[NaaryalHead]

I've always wondered about what's a good way to ask for the AF waiver when calling the CCC. Anyone for any tips?

I have 2x $40 AF coming up soon._.