How to increase the advantages of credit cards to the maximum with high annual fees

Since the two sources pay the annual fees to some excellent credit cards for travel bonuses, experts say it is important for consumers to take into account whether these cards are worth the cost.

Thursday, American Express Declare Consumer and business issues of the platinum credit card now are 895 dollars. This is about 29 % higher From the current cost of $ 695 a year.

in JuneThe Chase Sapphire Reserve has raised the annual fees to $ 795. This is a 45 % jumping From 550 dollars, the previous annual cost. in JulyCiti Citi Stata Elite, a distinguished travel credit card of $ 595 annually.

Other credit cards have changed conditions to reach privileges such as Airport halls. Earlier this year, Capital is one It announced that, starting in February, customers use Venture x rewards and Venture x Business The cards – each containing $ 395 annually – will not be able to bring guests to the halls for free.

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The higher annual fees mean that you have to evaluate whether the cards advantages are worth the cost.

“The annual fees are not bad in nature,” said Ted Rosman, chief industry analyst at Bankra “It is difficult to increase to the maximum.”

It may also be difficult to pay the debts. While the average annual ratio Average of credit cards About 20.13 %, the typical rate on distinguished travel cards can be closer to 25 % to 30 %, according to Russian.

“Generally, reward cards are paid higher,” he said.

Here’s how to determine whether the travel credit card is worth investing, according to experts.

For example, credit card can have a flying company like the free bags that have been examined, Priority ascendingExcellent status levels and sometimes discounts or points of spending in those airlines.

The French said: “They are only free (specific) bags for this airline.” “Your southwestern credit card will not get anything on United.”

Some airlines It belongs to partnership networks such as Star Alliance, OneWorld or SkyTeam. If you are looking for a brand special card, learn if the company has partnerships that allow you to transfer points or miles to allied brands.

On the other hand, public travel credit cards “really good for people who do not want to be married to a specific brand”, where you can earn and use bonuses on a broader scale.

Some of the travel credit cards do not impose annual fees; For those who do it, the cost can range from $ 95 to more than $ 500 a year. according to Nerdwallet. Keep in mind that travel cards with a little fees may not provide the same level of advantages and bonuses as paid cards.

Both types of travel cards tend to a set of similar privileges, including Credits to Za Breikik And other membership before the examination, and Large records on bonuses When you spend a certain amount of money on the card within a short period of opening it. As a repeated traveler, these benefits can help make the card fee worth the cost, as experts say.

To assess the benefits of the card, look at a detailed list of privileges on the source website, said French. The card may receive annual fees, but it says it includes one bag that has been free to you and a certain amount of guests. With only this mile, the card can pay for it on a journey or two for a family.