Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
StreamDweeler

93 Contributions
65 People Helped
Annual Credit Card Fee
I have seen lots of good things discussed on CK about the Chase Sapphire Blue credit card and I received an offer for it today. I was considering it until I saw that there is a $95 annual fee after the first year. With all of the good cash back and bonus point cards available with no fee, why would anyone get a credit card with an annual fee? Am I missing something?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7362 Contributions
3808 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

I don't think you are missing anything.  Frankly, I avoid cards with annual fees.

Top Contributor
784 Contributions
298 People Helped

It depends

It depends on the amount, where, and what your're spending money on. Chase Sapphire Preferred is great for dining and travel points. Those points can be used on Amazon.com to purchase items or can be redeemed for gift cards.

American Express Blue Cash Preferred charges a $75 annual fee, but earns 6% on groceries up to $6000 annually.  The rewards I've accrued, make up for the annual fee. The Blue Cash Everyday, has no fee and you'll earn 3% on groceries up to $6000 annually.

There are certainly many cards out there without fees. CitiBank Double Cash, Bank of America Cash Rewards card and their Travel Rewards card. Chase offers the Chase Freedom card and Chase Freedom Unlimited are available with no fee.

Many of these rewards are negated if you carry a balance and pay interest.  You should only charge what you can comfortably pay off every month. Live within your means.

5 Contributions
5 People Helped

The main benefit of the Chase sapphire preferred card is that it has no foreign transaction fees.

But what differentiates it from all of the free cards is that the rewards can be transferred to different airlines and also to hotels. For example, The chase UR points can be transferred to United Airlines and then used for a flight. In general a flight anywhere in the US will be under 15,000 points on United. This gives you the ability to make the points worth a lot more than if you just got a 1 cent per point cash back card etc

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.