High annual fee credit cards-Are they worth it?
Several great cards out there are notorious for their hefty annual fees, BUT they come with some stellar benefits. We actually don’t mind paying annual fees….here are some reasons why.
Premium Travel Credit Cards
Ok, so let’s break this down! Here at Traveling Tribu we love our Amex Platinum cards! The annual fees on these cards are very high (both the Platinum personal and the Amex Platinum Business is $695😬) BUT, please hear me out y’all…
Benefits we use all the time- the Business Platinum comes with:
Over $1,000 in value per year for statement credits on select purchases, including tech, recruiting and wireless (enrollment required)
$189 CLEAR(R) Credit: statement credit back each calendar year on your CLEAR® membership
$200 Airline Fee Credit: select an airline and receive up to $200 in statement credits per calendar year for incidental fees (enrollment required)
Up to $100 back for TSA PreCheck or Global Entry membership
Airport lounge benefits
Rental car elite status
Marriott Bonvoy Gold status
Hilton Gold status
No foreign transaction fees
So, one of the statement credits offered is a $ 400 per year credit to Dell. Babes always takes advantage of this and has picked up some sweet deals…(ie a sound bar, blink cameras, Bose Noise canceling headphones and more!)
So if you use this it reduces the annual fee:
$695-$400 Dell Credit= $295
Another valuable credit we use monthly is a $10 per month statement credit toward your cell phone bill. Just enroll and then pay your monthly bill with the Amex Business Platinum and the credit hits monthly. That’s $120 per year!
So let’s subtract some more…
$295-$120 cellular credit=$175
Let’s keep going shall we? We here at Traveling Tribu love our TSA pre check and Clear! TSA PreCheck allows you to go through an expedited security screening. You get to go through a shorter line, don't have to remove your shoes, and can leave your liquids and laptop in your bag.
CLEAR uses biometric identity verification that allows you to skip the line to have your I.D. checked.
Want to make it through security in record time?
TSA PreCheck with CLEAR is a winning combo!
More Math 😬…
$175-$100 TSA pre check =$75
Now if we subtract $189 Clear credit we drop into negative numbers and I just can’t even do that kind of math so we will stop subtracting now 😅😅😅😅😅
There is also a yearly airline fee credit that that covers incidentals- like baggage fees, taxes and food & drinks. Choose your airline and receive up to $200 in credit on these charges.
Now we have come to my absolute favorite premium card perk: Airport Longe Access! If you really want to take your airport experience up a notch, then you need a credit card that comes with airport lounge access. Having a comfy place to sit away from the crowds, a bite to eat, and a nice drink (all of which you don't have to pay for) is so nice!
We have saved tons of money in costly airport food and drinks using this perk!
Now - the Amex Platinum personal has many of these same benefits (not the Dell credit) and comes with a Saks $100 per year credit. You also get a $15 Uber credit each month that we use on Uber eats. 😋🍔🍟🍕🌮We also make great use of the $240 per year digital credit to use for things like Disney+, Peacock, Hulu and more! 😅😅😅OH! I almost forgot about the monthly Walmart+ credit making it FREE!!! I love Walmart+!
Bottom Line
If you enroll and take advantage of these and other VERY valuable benefits, the high annual fees can definitely be worth it! We know these cards aren’t for everyone- but if you plan on a lot of upcoming travel- consider one of the Amex Platinum options. They make for HAPPY travel!
(P.S. If you can’t fathom spending this much in fees, stay tuned for our next Blog! Spoiler Alert: It’s about a premium travel card with a substantially lower annual fee!)
