- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
If you opt for a rewards card with no annual fee -- there are many -- and take the $125/year you would have spent on Amex gold and add it to your retirement savings account -- which you should have -- after 30 years that portion of your savings -- the amount that accrued from the $125/year -- would be worth more than $12,000 if you made a nominal rate of return of 7% per year -- which should be relatively easy. You would also have whatever rewards you would have earned from the card.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.