Let’s face it—many of the best reward credit cards come with an annual fee.  While many cards hover around a manageable $95 annual fee, there’s a whole other class of “high-roller” cards with fees ranging from $325 to $695 a year. So, the real question is: are they worth it? My answer: a resounding YES—especially in the first year when you can cash in on the massive welcome bonuses and explore all the perks of high-annual-fee credit cards.

They might not be for everyone, but if you can maximize the benefits, the value is hard to beat. Let’s dive into why I’ve made some of these high-fee cards a permanent fixture in my wallet.

 

The Platinum Card® from American Express

One of my favorite cards is The Platinum Card® from American Express.  With an annual fee of annual_fees, you may think I’m crazy, but I will always keep it in my wallet. Here are seven reasons why I do.

For rates and fees of The Platinum Card® from American Express, see Rates and Fees; terms apply.

All information about 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 Credit

$200 annual airline credit on one airline you choose. You can use it for airlines you have to pay a baggage fee for, in-flight purchases, change fees, airport-lounge day passes, seat-assignment fees, and several other items. You must enroll in this benefit, pick one airline, and stick with it for a year. You can change your airline every January.   If you use this every year, your annual fee is now effectively down to $495.

Saks Fifth Avenue Credit

You get a $50 Saks Fifth Avenue credit every six months. I set a reminder in my calendar to go online twice a year (right after the new year and once in July) to use this credit. I buy my expensive face creams or a nice necklace on my card, and they credit me $50 each time. Now the cost of the card is down to $395 for me.

Uber Cash

Uber Cash of $15 a month and $35 in December equal up to $200 each year. 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. If you can take advantage of this, the annual card cost is now down to $195.

$200 Luxury Hotel Credit

You can get a $200 credit after booking a prepaid hotel stay at an eligible Fine Hotels + Resorts® or The Hotel Collection property through American Express Travel. Read more about this here. This is also something that I take advantage of every year and now my annual fee is down to free.  (Well, even better than free.) But wait, there are more perks!

Global Entry or TSA PreCheck® Credit

This credit is worth up to $120 once every four years for Global Entry or every four and a half years for TSA PreCheck®. If you choose to get Global Entry you will automatically also get TSA PreCheck®. Having both of these makes my travel so much faster.

CLEAR® Plus Credit

This $199 credit can get you through the airport quicker. Read more about CLEAR® Plus. (Be aware that the annual fee for CLEAR®  Plus is increasing on July 1, 2025 to $209, but card issuers are also expected to raise the annual credit to match that new price.)

$240 Select Streaming Services

Use your Platinum Card to subscribe to one or more services on Disney+, a Disney+ Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal, and get a monthly $20 statement credit.

Other Benefits

• Five Membership Rewards® on airfare purchases booked directly with the airline or through AmEx Travel. This lets me earn more points faster when I travel. I like to put my airline ticket purchases on this card.
• Elite status at Marriott and Hilton hotels. This benefit has provided upgrades to nicer rooms and free breakfasts for me and who doesn’t like that?
• $800 in cell phone protection. You can be reimbursed for your costs to repair or replace your damaged or stolen cell phone up to $800.
• Priority Pass Airport Lounge Access and even better, Centurion Lounge access.  If traveling on certain Delta flights, you can even access the Delta Sky Club with the Platinum Card® from American Express.

Once you use the airport lounges this card allows you to enter, it’s hard to go back to sitting in the crowded airport. I love to check out airport lounges and save a lot of money on meals and drinks. I have even showered after a long flight before my next departure and this makes travel so much nicer!  This is my favorite benefit and makes the high annual fee on this credit card worth it!

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

 

The Business Platinum Card® from American Express

The Business Platinum Card® from American Express is the card for which people often receive targeted offers without “lifetime language.” This card lets you earn generous welcome offers more than once. The annual fee of annual_fees may make some people hesitate, but between the welcome offers and the additional benefits, it’s a no-brainer as long as you can meet the spending requirements. 

• $200 annual travel credit (enrollment required). I use this on United Airlines for a TravelBank credit.
• $200 annual Hilton Hotel credit (enrollment required). This is a $50 quarterly credit and is worth using if you travel and stay at Hilton’s frequently. It is harder for me to use as Hyatt is my usual hotel of choice. However, on a recent trip to the Conrad Koh Samui, I charged $50 on multiple cards that my husband and I had, and it paid for our food. (Rooms were booked with free-night certificates.) 
• $200 Dell store credit every six months (though this benefit is changing after June 30, 2025)
• $120 ($10/month) wireless credit
• $199 CLEAR® Plus Credit
• Access to 1,400+ airport lounges worldwide with American Express Global Lounge Collection®

For rates and fees of The Business Platinum Card® from American Express, see Rates and Fees; terms apply.

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

 

The American Express® Gold Card

The American Express® Gold Card has an annual fee of annual_fees. This is a card that I keep in my wallet, too. Here are the reasons I keep it.

• $120 per year statement credit ($10/mo) at participating restaurants, which include GrubHub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. I use this with a pickup order for GrubHub monthly
• $10/month in Uber Cash (up to $120/year).  I use mine for $10/month with Uber Eats. 
• 4 points per dollar spent at U.S. restaurants and supermarkets—this is a great way to keep earning Membership Rewards®, especially if you have a big family and are always at the grocery store. I spend about $600/month on groceries, so that earns me almost 30,000 Membership Rewards® a year just on groceries. With this, I can get a round-trip domestic ticket through an airline partner, like Delta. That in and of itself makes this card worth keeping!

For rates and fees of The American Express® Gold Card, see Rates and Fees; terms apply.

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.

 

Marriott Bonvoy Brilliant® American Express® Card

The Marriott Bonvoy Brilliant® American Express® Card is another high-annual-fee card (annual_fees) that works for me. Here is why:

• $25 per month restaurant credit when charged to this card. This is worth $300 a year, so make sure you use this credit monthly!
• Annual free-night certificate that can be used at a hotel that charges up to 85K points per night (and I can top this up with extra Bonvoy points, too). I always use this to stay at a hotel that has a high nightly cash rate so I get a huge value out of this. 
• Gold Elite status at Marriott Hotels. This gets me late checkouts and a room upgrade. I love hotel status!
• Priority Pass airport lounge membership. You know I love my airport lounges!
• TSA PreCheck® or Global Entry once every four years.

As you can see, this card is worth much more than the annual_fees I spend on it. I have no intention of discarding it. 

For rates and fees of the Marriott Bonvoy Brilliant® American Express® Card, see Rates and Fees; terms apply.

 

 

 

Chase Sapphire Reserve®

The card_name offers a welcome offer of 60,000 Ultimate Rewards® after spending $5,000 in 3 months. Although it has a hefty annual fee, this card offers some great perks.

1. $300 Annual Travel Credit. You’re automatically reimbursed for up to $300 worth of travel expenses, reducing your annual fee to $250. And the great part about this is that you don’t have to do anything to claim the $300; it’s applied for you.
2. Earn three points per dollar spent on all travel and dining purchases after your $300 travel credit.
3. Points redeemed through Chase Travel℠ are worth 1.5 cents each, compared to just 1.25 cents with the Chase Sapphire Preferred® and Chase Ink Business Preferred® Credit Cards.
4. Includes Priority Pass Lounge membership. You know how we love our airport lounges! Also unlimited entry into Chase Sapphire Lounges®, which are really nice. This card makes sense if you have one in your airport!
5. This card also comes with great travel insurance coverage, because even if you book travel with points and just pay the taxes and fees on this card, you will be covered. One of these benefits is lost/delayed/damaged luggage. This happened to me a couple of years ago.  The airline lost my baggage for four days on a trip to Greece and had to buy new clothes and beauty products to get me through. I was reimbursed $500! Gotta tell ya, it was a pain not to have my clothes for a bit, but getting some new, free items was pretty nice in the end.

 

American Express Hilton Honors Aspire

The American Express Hilton Honors Aspire card comes with a high annual fee of $550. If you regularly stay at Hilton properties this card is well worth adding to your wallet despite the high annual fee. Here is what we love about this card:

• $400 Hilton Resort Credit. Get $200 in statement credits semi-annually when you make purchases at Hilton resorts (not all properties).
• $200 Airline Fee Credit. This works just like the airline credit with the Platinum Card® from American Express. Choose one airline and get reimbursed for things like baggage fees, onboard snacks, flight change fees, etc.
• Complimentary Diamond status with Hilton. Think free breakfasts for two, room upgrades, and more!
• Get an annual free-night certificate each year on your account anniversary. You can get a ton of value out of this free night! Unlike Marriott’s free night, there are no caps with this. You use it to visit the Maldives, Grand Wailea in Maui, Bora Bora, and much more. This is the best feature of this card and worth the annual fee year after year!

For rates and fees of the American Express Hilton Honors Aspire, see Rates and Fees; terms apply.

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

 

 

Bottom Line

Do the perks of high-annual-fee credit cards make the annual fee worth it? Absolutely—if you’re using them.  When you stack the statement credits, travel benefits, and rewards points, these cards’ actual “cost” is often far less than that annual fee. Do the math and decide if it’s worth it for you. And if you can’t utilize the benefits, you can always cancel or downgrade your card in the second year.

 

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