We get a lot of comments from our readers that they don’t want to pay a high annual fee for their credit cards. It’s important to understand that it is ALWAYS worth paying an annual fee the first year when you get the high welcome offer. It’s kind of like paying a discount for free money. For instance, our favorite beginner card, the card_name, has a usual welcome offer of 60K Chase Ultimate Rewards®. Those 60k points are worth 1.25 cents or $750 at a minimum when redeemed through Chase Travel℠ but much more than that through transfer partners. That is totally worth paying the annual $95 fee. Let’s talk about some cards we keep that have higher annual fees. Here are 5 credit cards worth paying a high annual fee for each year:

 

American Express® Gold Card

The American Express® Gold Card comes with an annual fee of $325. At first glance, you may think that is a card you would only keep for the first year. However, the card nearly pays for the annual fee with its benefits. 

For rates and fees of [American Express® Gold Card], See Rates and Fees; terms apply. Enrollment is required for select benefits.

All information about the American Express® Gold Card has been collected independently by Travel Mom Squad. The American Express® Gold Card is no longer available through Travel Mom Squad.

• $10 Uber Cash each month (up to $120 yearly). I use this each month to pick up food at a restaurant for lunch. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $10 dining credit. This can be used at select locations.
• $84 Dunkin’ credit. This is a $7/mo credit up to $84 annually.
• The top benefit is that you earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 and 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year. I typically spend about $600 a month on groceries and $200 at restaurants. That means I am spending $9,600 a year in those categories. Multiply that by four, and I get 38,400 American Express Membership Rewards®.

The first three benefits pay for all but $1 of the card’s annual fee, and those 38,400 Membership Rewards are worth way more than $10, so it is a keeper despite that annual fee of $325.

 

 

 

The Platinum Card® from American Express

The The Platinum Card® from American Express has a huge $695 annual fee and that certainly scares most people off. I keep it year after year because I take full advantage of its benefits to more than pay my annual fee. This card is my favorite of the 5 credit cards worth paying a high annual fee. 

For rates and fees of The Platinum Card® from American Express; See Rates and Fees; terms apply. Enrollment is required for select benefits.

All information about the The Platinum Card® from American Express has been collected independently by Travel Mom Squad. The The Platinum Card® from American Express is no longer available through Travel Mom Squad.

• $200 airline incidental credit. I use this for airport lounge day passes for friends.
• $240 annual credit ($20/month) for select streaming services.
• $100 Saks Fifth Avenue or saks.com. Credit is $50 semi-annually.
• $189 CLEAR credit
• $200 credit for prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel. This is really a nice benefit because you also get a $100 amenity and free breakfast for two. The Hotel Collection requires a minimum two-night stay.
• Up to $120 yearly benefit for Uber Cash ($10 monthly credit). Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• Up to $100 credit for TSA PreCheck® or Global Entry credit every 4 years.
• Cell phone protection
• Global Lounge Collection access-the best airport lounge access

Add up the dollar amount of the benefits without the last three, and the total is over $1000 – definitely more than the $695 I pay. The airport lounge access is priceless to me – I use it every single time I travel. Most airport lounge access costs $50+, so this makes my benefits over the top. I will always keep this card in my wallet.

 

 

 

Capital One Venture X Credit Card

card_name has an annual fee of $395/year. People freak out when we tell them to get this card. They don’t realize that you get a $300 annual credit when you book through their travel portal and 10K Venture miles each year that you renew the card. This completely pays for the annual fee.

This card earns 2x miles on every purchase making it an “use it and forget about it” card. Instead of worrying whether you are using the right card, you can just use it for everyday spending when you are not meeting the minimum spend on a credit card.

 

 

Marriott Bonvoy Brilliant® American Express® Card

The Marriott Bonvoy Brilliant® American Express® Card is one of the 5 credit cards worth paying a high annual fee for. It has an annual fee of $650 but comes with these benefits:

• $300 yearly dining statement. ($25/month)
• 85K annual free night certificate yearly. I routinely use this for stays at hotels that cost $500+/night.
• Priority Pass airport lounge membership – I love my airport lounges!
• Up to $100 credit for TSA PreCheck® or Global Entry once every four years

All information about the [American Express® Marriott Bonvoy Brilliant® Card] has been collected independently by Travel Mom Squad. The [American Express® Marriott Bonvoy Brilliant® Card] is no longer available through Travel Mom Squad’s affiliate network.

For rates and fees of {American Express® Marriott Bonvoy Brilliant® Card}, See Rates and Fees; terms apply. Enrollment is required for select benefits.

These benefits clearly pay for my annual fee and more!

 

 

 

American Express Hilton Honors Aspire Card

The American Express Hilton Honors Aspire card is the last of our 5 credit cards worth paying a high annual fee. The annual fee is $550 on this card. Ouch- at first glance. The benefits include:

• Up to $400 credit at Hilton Resorts and Hotels
• $200 Airline Fee Credit – this is similar to the Platinum Card credit. Use for incidental fees such as checked baggage, in-flight refreshments, and flight change fees.
• Up to $189 credit for CLEAR Membership
• Diamond status – free breakfasts and other amenities.
• One weekend night reward stay – this can be used at top properties making it very valuable. You could easily use it for a room that would cost $500+
• Priority Pass Lounge access upon enrollment

All information about the [American Express Hilton Honors Aspire Card] has been collected independently by Travel Mom Squad. The [American Express Hilton Honors Aspire Card] is no longer available through Travel Mom Squad.

For rates and fees of [American Express Hilton Honors Aspire Card], See Rates and Fees; terms apply. Enrollment is required for select benefits.

Again, this card gives way more value than the price of the annual fee. The free weekend night stay alone could be worth more than the annual fee.

 

 

Bottom Line

Before you say, “I’d never pay a high annual fee for a card”, do a cost versus benefits analysis. You will find that there are many credit cards with high annual fees that are worth getting for the welcome offer AND worth keeping year after year. What other cards do you think are worth paying a high annual fee for?