Random question: do your credit cards have annual fees?

posted 3 years ago in Money
  • poll: Do your credit cards have annual fees?
    Yes, and it is worth it : (24 votes)
    17 %
    Yes, and I wish they didn't - not worth it : (12 votes)
    8 %
    No, I would never pay a fee for a credit card : (86 votes)
    60 %
    No, because I am not sure if there is a benefit to paying a fee : (22 votes)
    15 %
  • Post # 3
    Member
    9137 posts
    Buzzing Beekeeper
    • Wedding: November 2013 - St. Augustine Beach, FL

    @MrsPanda99:  Nope, but that’s because I don’t have any CCs.  When I did have one it was a platinum with no interest or fees so long as I made payments on time every month.

    Post # 4
    Member
    8418 posts
    Bumble Beekeeper
    • Wedding: April 2013

    @MrsPanda99:  I voted no, but I do have a fee for my Costco membership card so not sure if that counts.

    Post # 5
    Member
    2675 posts
    Sugar bee
    • Wedding: May 2014 - Madison, WI

    My CC has no fees, as long as you use it once a year. There is an annual fee only if you don’t make any purchases on it during the year. Basically they’re encouraging you to use it.

    Post # 6
    Member
    4441 posts
    Honey bee
    • Wedding: January 2013 - Harbourfront Grand Hall

    @MrsPanda99:  I have a Chase Freedom Card and when I first got it (6 years ago) there was I believe a $25-50 fee.  I think the fee went away after 5 years because I don’t remember paying it this year.  Either way I wouldn’t care because I get much more than that back in rewards.

    Post # 8
    Member
    4441 posts
    Honey bee
    • Wedding: January 2013 - Harbourfront Grand Hall

    @MrsPanda99:  I get about $40/month in rewards so for me, it’s well worth it!  It’s 1% back on everything and 5% back on categories that change every 3 months.  Right now it’s department stores, Amazon and something else.  It’s usually at least one good cateogry each time it changes like grocery stores, gas, etc.

    Post # 9
    Member
    84 posts
    Worker bee
    • Wedding: December 2013

    Mine does. I don’t know how much because I just got it in February and the first year was free. But I do get a mile for every dollar so they’ve been racking up 🙂  I always pay it off every month so it’s not a problem. But it’s nice that I can pay my DJ and florist with it and that’s about 5K in miles! Which I can use towards my honeymoon!!

     

    Post # 10
    Member
    2358 posts
    Buzzing bee
    • Wedding: November 1999

    No fees. Personally, I would close my accounts if they started imposing annual fees.

    Post # 11
    Member
    4043 posts
    Honey bee

    @mchitt329:  But there are lots of cards with rewards that have no fees. 

    I have a Chase Freedom Card that gives between 1% and 5% cash back. No yearly fees and 10% APR interest rate (though I always pay off the balance each month).

    Post # 12
    Member
    624 posts
    Busy bee
    • Wedding: January 2015

    No. But I used to have a Visa that would boast of its “rewards”… and it turned out to have a membership fee. Never again.

    Post # 13
    Member
    3635 posts
    Sugar bee
    • Wedding: May 2012

    There are cards that are worth the fees out there, but we just don’t want to mess with it.  If your spending is predictable, you can easily calculate what your rewards would be on the free card vs. the annual fee card.  Our spending varies, as does what we put on each card depending on the rewards offered on each that quarter.  So… it doesn’t make sense for us.

    Post # 14
    Member
    4441 posts
    Honey bee
    • Wedding: January 2013 - Harbourfront Grand Hall

    @bmo88:  …ok.

    Post # 15
    Member
    477 posts
    Helper bee
    • Wedding: July 2013

    All but one of my cards have no fees. 

    For the one that has an annual fee, the rewards and benefits are totally worth it!

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