Cards with Annual Fees

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solomon
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Cards with Annual Fees

Postby solomon » Sun Nov 23, 2014 9:27 pm

I have a humble staple of credits cards early in my financial history including the MC Dividends 5% and Visa US Bank Cash+.

My question regards AFs. These two cards (Dividends and Cash+) have no annual fee and I am interested in the AMEX Green and Blue Cash Preferred, which DO have AFs.

The reason I like the Green is because of the sole reason of building a relationship with AMEX and the BCP because of the 6% on groceries but I already get 5% at restaurants and 2% on groceries with the Cash+.

Is it worth paying the annual fee when there are other excellent cards out there with other financial institutions like MC and Visa?

Thanks in advance for your input.
MC Citi Dividends WE - CLI 4/31/16
V US Bank Cash+ - CLI 05/31/16
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 5/31/16
MC Sam's Club - 03/04/15
DFS It - CLI 05/31/16
V Chase Freedom - CLI 6/17/15
CSP - 06/02/16
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16


popamode72
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Postby popamode72 » Sun Nov 23, 2014 9:57 pm

The requirements and underwriting on the Amex charge cards are pretty much the same. You could even get a PRG or Platinum if you wanted instead of the Green if you wanted something with more benefits, albeit a much higher annual fee.

Did you also look at the Sallie Mae MC from Barclays? That card has no annual fee but you get 5% cashback on the first 250 dollars of gas and groceries and the first 750 dollars of book and Amazon purchases you spend each month. I think that card might be a worthy alternative.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

takeshi
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Location: US

Postby takeshi » Mon Nov 24, 2014 8:03 am

solomon wrote:Is it worth paying the annual fee when there are other excellent cards out there with other financial institutions like MC and Visa?

First of all, worth is always highly subjective regardless of topic so there isn't just one answer to your question. Even if you don't know the answer to your question with some logic you can reason that many of people do find AmEx cards worthwhile or else AmEx wouldn't be in business.

Second, crunch the numbers to help you determine if it's worth it to you. You should have an idea of what your category spend is and what rewards you stand to earn. Spend varies from person to person. The Sallie Mae suggested above is better suited for certain levels of category spend. For very high levels of category spend the old Blue Cash may be a better fit.

I don't see how you've narrowed it down to "AF versus MC/Visa". There are plenty of MC's and Visas with AF's as well. Again, plenty of people do find AmEx's with (and without) AF's to be worthwhile. We can't tell you where you stand on the matter unless you can give us more details such as your spend levels in the relevant categories.

If you still can't be bothered to do the math then dig around on myFICO. There's a comparison chart posted to a number of threads that you can reference.

solomon wrote:but I already get 5% at restaurants and 2% on groceries with the Cash+.

That 5% on restaurants will not be an option starting in 2015.

hockeyplayr
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Postby hockeyplayr » Tue Nov 25, 2014 9:44 am

If you can spend enough to offset the annual fee and come ahead in rewards as compared to the no AF version then it's a no brainer. Also if you think $95 for a relationship with amex is worth it that is a very valid reason. I'm paying $95 for a diners club card that I don't really need but think I will need in a the future. Since they tend to pull the ability to app for it (and have already) I hopped on it the moment I could.
Credit Scores: Equifax - 736 (October Fico) | Experian 726 (October Fico) | TU - 758 (October Fico)

Credit Lines: Diners Club 20k | Citi DC 9.1k | SDFCU 5k | Penfed 7k | Amex BCE - 10.5k | Chase Marriot - 5.2k | CSP - 6.5k |Discover IT - 9k | Sallie Mae 3.8k | Citi TYP - 3.5k | BOA 123 - 4.9k | Total Rewards 3.25k|

yfan
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Location: San Jose CA

Postby yfan » Tue Nov 25, 2014 3:03 pm

solomon wrote:The reason I like the Green is because of the sole reason of building a relationship with AMEX and the BCP because of the 6% on groceries but I already get 5% at restaurants and 2% on groceries with the Cash+.

Why would you want the Green just to build relationship with Amex if you are already getting another Amex (BCP)?

solomon
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Joined: Sat Aug 17, 2013 6:31 pm
Location: USA

Postby solomon » Sun Dec 28, 2014 2:20 pm

I ended up getting approved for Blue Cash Everyday. I didn't think I'd get it, so is there a point in even applying for a Green Charge Card?
MC Citi Dividends WE - CLI 4/31/16
V US Bank Cash+ - CLI 05/31/16
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 5/31/16
MC Sam's Club - 03/04/15
DFS It - CLI 05/31/16
V Chase Freedom - CLI 6/17/15
CSP - 06/02/16
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

popamode72
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Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Sun Dec 28, 2014 5:16 pm

solomon wrote:I ended up getting approved for Blue Cash Everyday. I didn't think I'd get it, so is there a point in even applying for a Green Charge Card?


Not really. I'd rather have a PRG mainly for the sign up bonus if I needed a charge card.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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