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any credit cards with annual fees worth it

tag
Weights
Regular Contributor

any credit cards with annual fees worth it

I haven't see any other posts similar to this, so I thought this would be a worthile forum for many.  Like many consumers, I tend to shy away from cards which have an annual fee tied into them.  I'm not sure that I really have an answer to this question, but if hard pressed, I would say chase sapphire preferred if you spend enough each year without carrying a balance, due to 1:1 transfer point ability, no foreign transaction fees, and the bonus redemption.  

Message 1 of 16
15 REPLIES 15
longtime_lurker
Valued Contributor

Re: any credit cards with annual fees worth it

Absolutely the CSP if you eat out and travel - ESPECIALLY in foreign countries. I'd also say that the BCP is worth it- IF you have a family to spend for, or are willing to partake in MS. I have neither, so I use the BCE. Smiley Happy

Current cards: MSUFCU Platinum, Amex PRG, Amex Surpass, Amex BCE, Citi Prestige, Citi Double Cash, Citi Premier, US Bank Cash +, Huntington Voice, AAviator, Sallie Mae, Discover IT, Chase Freedom TU:753 EQ Enhanced: 758
Message 2 of 16
enharu
Super Contributor

Re: any credit cards with annual fees worth it


@Weights wrote:

I haven't see any other posts similar to this, so I thought this would be a worthile forum for many.  Like many consumers, I tend to shy away from cards which have an annual fee tied into them.  I'm not sure that I really have an answer to this question, but if hard pressed, I would say chase sapphire preferred if you spend enough each year without carrying a balance, due to 1:1 transfer point ability, no foreign transaction fees, and the bonus redemption.  


there are many cards with AFs that can be well worth it's value.

It all depends on what you are spending on, how much you are spending, and what you need.

There's no 1 size fit all solution / answer.

 

A lot rewards card are well worth it if you spend enough, but not everyone has the ability to spend "enough" on a credit card.

 

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 3 of 16
chwebb1
Established Contributor

Re: any credit cards with annual fees worth it

The two AF cards that I'd pay for are BCP and Barclaycard Arrival.

 

I know there's a lot of Chase love on here, but I have no interest in getting another Chase card at the moment and for the foreseeable future, so the CSP doesn't interest me at all right now.

 photo NUS000000180_160X101_STRAIGHT.gif photo DISCOVER_IT_LG.gif photo card_1.png photo night-launch.png photo NUS000000012_160X101_STRAIGHT.gif photo bankamericard-better-balance-rewards-credit-card-small.png
$15000 ........... $12500 ............ $11750 ............ $10000 ........... $9400 ............ $5000 ............. $5000
In the Garden until at least November 2015
Message 4 of 16
longtimelurker
Epic Contributor

Re: any credit cards with annual fees worth it

The annual fee gets far too much weight in some peoples decisions.  Stripped of more  subjective matters (I want to get in with issuer X, this card is METALLLLL etc) for any card the decision should be:

 

Given my spending patterns, is the value (evaluated however you like) I will get from this card after expenses, equal to or greater than other cards  that cover a similar space that I can reasonably expect to get.

 

i.e. AF is just part of the reward structure calculation.

 

To be fair, there are some cards with AFs that are no better than free cards, so those are clearly (absent the subjective factors) not worthwhile.  But for many, again depending on spending patterns and reward valuation, a particular AF card is the way to go.

Message 5 of 16
megaman1
Regular Contributor

Re: any credit cards with annual fees worth it


@longtime_lurker wrote:

Absolutely the CSP if you eat out and travel - ESPECIALLY in foreign countries. I'd also say that the BCP is worth it- IF you have a family to spend for, or are willing to partake in MS. I have neither, so I use the BCE. Smiley Happy


What is MS? I always see this..

Message 6 of 16
longtimelurker
Epic Contributor

Re: any credit cards with annual fees worth it

Manufactured Spend, buying of (near) cash equivalents to get rewards, using the proceeds to pay off the card and repeat.

 

(The BCP ISN'T a good card for this)

Message 7 of 16
enharu
Super Contributor

Re: any credit cards with annual fees worth it


@megaman1 wrote:

@longtime_lurker wrote:

Absolutely the CSP if you eat out and travel - ESPECIALLY in foreign countries. I'd also say that the BCP is worth it- IF you have a family to spend for, or are willing to partake in MS. I have neither, so I use the BCE. Smiley Happy


What is MS? I always see this..


manufactured spending.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 8 of 16
09Lexie
Moderator Emerita

Re: any credit cards with annual fees worth it


@longtimelurker wrote:

The annual fee gets far too much weight in some peoples decisions.  Stripped of more  subjective matters (I want to get in with issuer X, this card is METALLLLL etc) for any card the decision should be:

 

Given my spending patterns, is the value (evaluated however you like) I will get from this card after expenses, equal to or greater than other cards  that cover a similar space that I can reasonably expect to get.

 

i.e. AF is just part of the reward structure calculation.

 

To be fair, there are some cards with AFs that are no better than free cards, so those are clearly (absent the subjective factors) not worthwhile.  But for many, again depending on spending patterns and reward valuation, a particular AF card is the way to go.


Well said!

Message 9 of 16
kkapdolee
Frequent Contributor

Re: any credit cards with annual fees worth it


@longtimelurker wrote:

Manufactured Spend, buying of (near) cash equivalents to get rewards, using the proceeds to pay off the card and repeat.

 

(The BCP ISN'T a good card for this)


longtimelurker,

why do you say bcp is not a good ms card? Is the cap too small?

do you consider PenFed platinum a good ms card?

[10%+] Internet, Cable, Cell phone
[5%] Gas, Grocery, Amazon, Airline tickets, Drug Stores, Dept. Stores, Target, MyHabit
[3%] Restaurants
[2%] Everything Else
Message 10 of 16
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