Most people don't like the idea of carrying debt and some will avoid credit cards all together over concerns relating to it. That said, some cards offer some great rewards such as 2% cashback, travel perks, insurance, and so fourth. Then there are cards that take it a step further, but require an annual fee of $xx. What are your thoughts on credit cards that charge annual fees? Do you have any? Speaking for myself, I was dead set against annual fees until I started travelling more. Now, I get as much as 4% cashback on gas/groceries towards my travel expenses. In addition, my family and I get 15 days medical insurance whenever we travel -- a savings that really adds up.
If you're using it so much that you're still saving more overall like you are, then I don't think it's quite as bad. I usually only recommend them for people who are just starting out and can't get a card without the annual fee. Also, don't hesitate to call them sand say you're considering closing the card because the annual fee is just too much and "such n such card" doesn't charge an annual fee. You can often get them to waive the fee for you and save even more.
I agree with the original poster that the fees associated with some credit cards are worth it for either the cash back or travel or other rewards. A year ago, I got a secured credit card at a local credit union to establish a credit history and now that my credit is hi, I want to get a card with an airline company. My father hates credit cards and does not see the vale in the rewards prorams...
I do not like annual fees. I have only one credit card that does have some rewards, but no annual fee. I personally do not spend enough for it to be worth while. I almost didn't get the credit card I have now until I realized I could pay by phone because I figured if my monthly reward points were only about 2-3 dollars or less, I'm losing quite a bit of that on a stamp, envelope and check.
This is true. A few years back I tried to cancel two of my credit cards, because I already have several and I want to slowly eliminate it one by one. Anyway, I called the credit card companies requesting to close/cancel my account and they offer to waive the annual fees. Though they did mention that they are only offering that kind of waiver to cardholders with good paying record. Anyway (again) to answer the topic regarding annual fees, I think these credit card companies are earning enough from monthly interests and surcharges alone so they should stop charging annual fees.
