Credit Card eZine - News and Articles about Credit Cards
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Why Paying An Annual Fee For Your Credit Card Is A Good Idea
[November 29th, 2016]
If there’s one thing that’s almost a universal truth among credit card customers, it’s that they hate paying fees. That’s why so many credit cards advertise their no-annual-fee credit cards, hoping to entice folks who are reluctant to pay anything more than they absolutely have to.
But in fact, if you are against paying an annual fee under any circumstances, you could really be missing out. Credit cards that charge annual fees are almost always worth the money. Here’s why: they offer benefits and perks that are worth far more than the measly fee you pay per year for membership.
Here are a few of them:
• Signup bonuses. This is perhaps the biggest perk of a credit card with an annual fee. The signup bonuses are often worth more than the annual fee itself, and can amount to hundreds of dollars in gift cards, round-trip airline tickets, or a weekend in a luxury hotel suite.
• More ways to earn rewards. The higher the annual fee, the more rewards you can earn. Triple points on purchases are not unheard of, and it’s generally much easier to redeem and transfer rewards to get things you really want and can use, like airline miles.
• 24/7 concierge service. You can get help with trip planning, shopping, merchant disputes, or pretty much anything you can think of with this swanky service, available to elite customers at any hour of the day or night. Just call them up with your request, and you’ll be put through to a dedicated concierge line and a specialist who can answer your questions.
• Purchase protection. If you buy something and it’s lost or stolen, or it breaks, or it just doesn’t work, you can have recourse under the terms of your credit card agreement. They will advocate for you and make sure your complaint or problem is handled appropriately.
• Trip insurance. If you plan a trip and something goes amiss, you may be covered if you have travel insurance through your credit card. This gives you peace of mind, particularly if you’re a frequent traveler.
Annual fees may be as low as $35 or as high as $450, but don’t rule out a card just because it has a fee. First, find out what you’ll get. It just may be more than you bargained for.
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[October 23, 2018]
Credit card fraud is an ongoing problem for merchants, consumers and financial institutions alike. According to a wide-ranging Lexis Nexis study, merchants in the United States lose nearly $200 billion a year to credit card fraud, while banks lose about $11 billion and customers lose $5 billion annu...
[September 23, 2018]
Rotating rewards credit cards are popular with consumers because every quarter, they offer bonus cash back in a different set of spending categories. Usually, this means extra rewards when spending on gas, at department stores, or when they go to the movies. But this season, Chase Freedom cardholder...
[September 01, 2018]
A new partnership between Chase Card Services and Expedia Group will allow Chase Ultimate Rewards members to enjoy more choices, more flexible rewards redemptions, and enhanced capabilities when using their reward points.
Under the Expedia/Chase alliance, Expedia’s network of flights, hotels, v... |
