Elite Credit Card Fees Pay Off For Frequent Travelers
Paying a yearly fee of $450 or even more for a credit card might sound crazy to some people. After all, there are so many credit cards available with no annual fee: why would anyone pay hundreds of dollars just for a credit card?
The answer might surprise you, if you’ve never looked into the benefits of having an elite travel rewards credit card. These cards have multiple benefits that are worth the fee, and on top of that, they offer signup bonuses and other rewards that easily outweigh the cost of the annual fee.
Most of these cards are geared towards travel enthusiasts, or business travelers. The best benefits have to do with travel, such as round-the-clock concierge service, free bag check, discounts on in-flight food and drink, hotel upgrades, and even free flights. Elite credit cards with hefty annual fees almost never charge a foreign transaction fee, so anything you buy overseas with your credit card won’t cost extra.
Perks worth more than fees
Another great perk of these cards is travel insurance, which protects you in case something arises before or during your trip, causing you to need to change your itinerary. You can use the concierge service to assist you with any changes you need to make to your tickets or reservations, and rest assured that you’ll be able to make those changes without being charged extra.
Access to exclusive airport lounges is one more VIP benefit that most elite travel rewards credit cards offer. You can recharge your phone, enjoy a complimentary meal and beverage, even take a shower and get a massage at these swanky lounges, which are not open to the general public.
Travel with ease when you have TSA Pre-check, allowing you to sail through the security line without taking off your shoes: membership is often discounted, or entirely covered, when you have an elite travel credit card. This perk is worth nearly $100 a year alone. When you do the math on all the benefits of these cards, you’ll find that paying several hundred dollars a year for them is still a bargain.
Latest Credit Card Fees Guides
What is a credit limit? A credit limit is the total amount you are allowed to charge to your credit card. This includes not only approved credit card purchases, but also the entire balance owed, as well as balance transfers, interest charges, and fees such as annual fees and late fees. With most credit cards, […]Continue »
Credit cards may be fraught with a dozen of different fees. Certainly, you may know what annual fee is, but if you are not used to thoroughly read card agreements, you probably have never paid attention to some other kinds of fees. Still, it is very important to be well-informed about all the fees that […]Continue »
After you make purchases with your credit card, there always comes a time when you have to foot the bill. A monthly credit card statement usually contains a lot of numbers that taken together make up your payments. Of course, you’d better understand and monitor them all, but there is one number that just calls for attention – the minimum credit card payment.Continue »
The annual fee is a fee that you pay once a year just for using a credit card. Not all credit cards have an annual fee. As a rule, this fee is charged on travel credit cards, premium credit cards, and credit cards for bad or limited credit history.Continue »
A late payment fee is a fee charged by the credit issuer when cardholders fail to pay on time. It applies to both situations: when you didn’t manage to pay before the due date at all and when you did pay but less than the required minimum.Continue »