Good afternoon everyone, I hope your holiday season is going well. With the end of the year right around the corner, I decided to publish my 2024 version of credit card annual fees I paid this year. For comparison, here are my previous credit card annual fee posts:
- I Paid $4,588 in Credit Card Annual Fees in 2019 – Was it Worth it?
- I Paid $3,820 in Credit Card Annual Fees in 2020 – Was it Worth it?
- I Paid $3,009 in Credit Card Annual Fees in 2021 – Was it Worth it?
- I Paid $4,043 in Credit Card Annual Fees in 2022 – Was it Worth it?
- I Paid $4,807 in Credit Card Annual Fees in 2023 – Was it Worth it?
For this year’s post, I decided to break up the list of credit cards into 5 sections:
- Credit cards with sign up bonuses
- Credit cards with retention offers
- Credit cards with product changes
- Credit cards that were closed this year
- All other credit cards
For simplicity, I did not include the value of miles or points earned from credit card spend, but I did include the value of miles and points earned from sign up bonuses, referral bonuses, anniversary points, discounted points, and rebated points. I counted all credits, reimbursements, and retention offers at face value. I list the value of all tangible and intangible benefits below too.
I went through all of my credit card statements and online accounts to see which Credit Card Benefits I used in 2024 and those values are in the CCB $ column. If I received a retention offer, that is listed in the RO $ column. I listed the credit card annual fees in the AF $ column. Lastly, I used this formula to calculate the Profit or Loss (P/L column) for each credit card: CCB $ + RO $ – AF $ = P/L. Laura’s card are included as well.
Credit cards with sign up bonuses:
- Laura and I took advantage of 8 new credit card sign up bonuses and pocketed $10,765 after paying $1,732 in annual fees. If we stopped here, it would be been a very successful year!
- I was able to use several AMEX Offers throughout the year which saved us a few dollars and helped meet the minimum spending requirements.
- I should have waited for a better Air France / KLM offer to come around, but I was impatient and applied too soon.
- The 70K Hawaiian Airlines CC sign up bonus after first purchase was awesome and soon became 70K Alaska Airlines Miles.
| Credit Card Name | Credit Card Benefits | CCB $ | RO $ | AF $ | P/L |
| AMEX Blue Business Plus 1 | 75K AMEX MR Points sign up bonus ($1,125 value), $20 Peet’s Coffee AMEX Offer, & $6 Peacock AMEX Offer | $1,151 | $0 | $0 | $1,151 |
| AMEX Business Gold 3 | 125K AMEX MR Points sign up bonus ($1,875 value), $80 Klook AMEX Offer, $40 Staples Credit, $25 Zappos AMEX Offer, & $14 Walmart+ Credit | $2,034 | $0 | $375 | $1,659 |
| AMEX Business Platinum 3 | 120K AMEX MR Points sign up bonus ($1,800 value), 25K AMEX MR Points referral bonus ($375 value), $200 Dell Credit, $200 Airline Credit, $199 CLEAR Credit, $30 Wireless Credit, $30 Cole Haan AMEX Offer, $21 Dell AMEX Offer, $15 Sur La Table AMEX Offer, $15 Lego AMEX Offer, $10 Discovery+ AMEX Offer, & $5 Mobile Gas AMEX Offer | $2,900 | $0 | $695 | $2,205 |
| AMEX Gold (Laura) | 90K AMEX MR Points sign up bonus ($1,350 value), $120 Dining Credit, $50 Resy Credit, $45 AT&T AMEX Offer, $42 Dunkin Credit, $20 Comcast AMEX Offer, & $10 UPS My Choice AMEX Offer | $1,637 | $0 | $250 | $1,387 |
| AMEX Marriott Bonvoy Business | 5 x 50K Marriott Free Night Certificates sign up bonus ($1,000 value), $30 Patagonia AMEX Offer, $25 Joseph A Banks AMEX Offer, & $20 Zappos Offer | $1,075 | $0 | $125 | $950 |
| Bank of America Air France / KLM | 50K Air France / KLM Miles sign up bonus ($750 value) & $100 Statement Credit | $850 | $0 | $89 | $761 |
| Barclays Hawaiian Airlines (Laura) | 70K Hawaiian Airlines Miles sign up bonus ($1,050 value) | $1,050 | $0 | $99 | $951 |
| Barclays JetBlue Plus | 70K JetBlue Points sign up bonus ($1,050 value) & 50K JetBlue Points referral bonus ($750 value) | $1,800 | $0 | $99 | $1,701 |
| $12,497 | $0 | $1,732 | $10,765 |
Credit cards with retention offers:
- Every time a credit card annual fee posts, I call the credit card company to see if they will waive the annual fee or provide a retention offer. My success rate this year was not as good as previous years (2020 was my best year by far), but $360 for minimal work was not a bad return.
- If I didn’t receive a retention offer on any of these cards, I would have kept the JPMorgan Ritz Carlton and US Bank Altitude Reserve. Those CCs are well worth the annual fee.
| Credit Card Name | Credit Card Benefits | CCB $ | RO $ | AF $ | P/L | Notes |
| AMEX Business Gold 2 | $180 Staples Credit & $126 Walmart+ Credit | $306 | $150 | $295 | $161 | 10,000 point retention offer after spending $5,000 in 3 months |
| Chase JPMorgan Ritz Carlton (Laura) | $300 Airline Incidental Credit & 85K Marriott Free Night Certificate ($300 value) | $600 | $150 | $450 | $300 | $150 retention offer, no spend required |
| US Bank Altitude Reserve | $325 Travel / Dining Credit & 8 Priority Pass Restaurant Visits ($160 value) | $485 | $60 | $400 | $145 | 4,000 points retention offer, no spend required |
| $1,391 | $360 | $1,145 | $606 |
Credit cards with product changes:
- The only reason I converted my second US Bank Cash Plus to a US Bank Altitude Connect was for the 4 free Priority Pass restaurants visits each year.
| Credit Card Name | Credit Card Benefits | CCB $ | RO $ | AF $ | P/L | Notes |
| US Bank Altitude Connect | 4 Priority Pass Restaurant Visits ($80 value) | $80 | $0 | $0 | $80 | Converted from US Bank Cash Plus |
| $80 | $0 | $0 | $80 |
Credit cards that were closed this year:
- The first 2 AMEX CCs on the list were closed to free up slots for future AMEX CCs.
- Even though I closed my US Bank Business Altitude Connect, I still have 4 Priority Pass restaurant visits remaining. I need to use these up before that Priority Pass membership expires.
- I closed the Chase Marriott Bonvoy Premier Plus Business in order to get the AMEX Marriott Bonvoy Business (see the first section above).
| Credit Card Name | Credit Card Benefits | CCB $ | RO $ | AF $ | P/L | Notes |
| AMEX Blue Business Plus 2 | None | $0 | $0 | $0 | $0 | No retention offer, closed card on 11/6 |
| AMEX Blue Cash Everyday | $50 Motley Fool AMEX Offer & $20 Comcast AMEX Offer | $70 | $0 | $0 | $70 | No retention offer, closed card on 7/5 |
| AMEX Business Platinum 2 | $200 Dell Credit, $200 Airline Credit, $40 Wireless Credit, & $13 Dell AMEX Offer | $453 | $0 | $453 | No retention offer, closed card on 4/17 | |
| Barclays AAdvantage Aviator Red | 50K American Airlines Miles referral bonus ($750 value) | $750 | $0 | $750 | No retention offer, closed card on 11/1 | |
| Chase Ink Preferred (Travel with Grant) | $45 Alaska Airlines Chase Offer, $17 Staples Chase Offer, $11 Office Depot Chase Offer, & $5 Starbucks Chase Offer | $78 | $0 | $78 | No retention offer, closed card on 8/6 | |
| Chase Marriott Bonvoy Premier Plus Business | $11 Office Depot Chase Offer | $11 | $0 | $11 | No retention offer, closed card on 4/17 | |
| Synchrony Premier | None | $0 | $0 | $0 | $0 | No retention offer, closed card on 8/30 |
| US Bank Business Altitude Connect | 4 Priority Pass Restaurant Visits ($80 value) | $80 | $0 | $80 | No retention offer, closed card on 8/5 | |
| $1,442 | $0 | $0 | $1,442 |
All other credit cards:
- Some of the most profitable CCs come from referral bonuses, but I will need to pay taxes on those bonuses.
- I was able to get some great itineraries booked with my multiple Alaska Airlines Companion Fares. If you think outside the box and combine multiple Companion Fares, you can get several discounted trips.
- I was able to use the free night certificates this year to book some great hotels. It is hard to put a value on those FNCs, but that is the price I would pay if the hotel or credit card offered me an additional FNC.
- The Citi ThankYou Point earning credit cards are great and almost all have no annual fee
| Credit Card Name | Credit Card Benefits | CCB $ | RO $ | AF $ | P/L |
| AMEX Delta Platinum Business | $194 Delta Stays Credit, $60 Rideshare Credit, & $10 Resy Credit | $264 | $0 | $250 | $14 |
| AMEX Hilton Surpass | $200 Hilton Credit | $200 | $0 | $150 | $50 |
| Bank of America Alaska Airlines | Alaska Airlines Companion Fare ($100 value) | $100 | $0 | $95 | $5 |
| Bank of America Alaska Airlines (Laura) | Alaska Airlines Companion Fare ($100 value) | $100 | $0 | $95 | $5 |
| Bank of America Alaska Airlines Business | Alaska Airlines Companion Fare ($100 value) | $100 | $0 | $95 | $5 |
| Bank of America Business Advantage UCR | None | $0 | $0 | $0 | $0 |
| Barclays Wyndham Rewards Earner Business | 15K Wyndham Rewards Points anniversary bonus ($150 value) | $150 | $0 | $95 | $55 |
| Capital One Venture Rewards (Laura) | 20K Capital One Miles referral bonus ($300 value) | $300 | $0 | $59 | $241 |
| Capital One Venture X | $300 Travel Credit, 10,000 Capital One Miles anniversary bonus ($150 value), & 3-4 Capital One Lounge visits ($60 value) | $510 | $0 | $395 | $115 |
| Chase Freedom (Laura) | $17 Staples Chase Offer, $15 Comcast Chase Offer, & $11 Office Depot Chase Offer | $43 | $0 | $0 | $43 |
| Chase Freedom Flex 1 | $17 Staples Chase Offer, $12 GiftCards.com Chase Offer, $11 Office Depot Chase Offer, & $5 Starbucks Chase Offer | $45 | $0 | $0 | $45 |
| Chase Freedom Flex 2 | $17 Staples Chase Offer, $15 Chewy Chase Offer, $11 Office Depot Chase Offer, & $5 Starbucks Chase Offer | $48 | $0 | $0 | $48 |
| Chase IHG Rewards Business | IHG Free Night Certificate ($100 value), $100 Global Entry Credit, & $17 Staples Chase Offer | $217 | $0 | $99 | $118 |
| Chase IHG Rewards Premier | IHG Free Night Certificate ($100 value) & $50 United Airlines Travel Funds | $150 | $0 | $99 | $51 |
| Chase IHG Rewards Premier (Laura) | IHG Free Night Certificate ($100 value), $50 United Airlines Travel Funds, & $15 Comcast Chase Offer | $165 | $0 | $99 | $66 |
| Chase IHG Rewards Select | 16,900 rebated IHG Points (worth $85), capped IHG Free Night Certificate ($80 value), & $15 Comcast Chase Offer | $180 | $0 | $49 | $131 |
| Chase Ink Cash (Travel with Grant) | $31 Quill Chase Offer, $15 Chewy Chase Offer, & $8 Staples Chase Offer | $54 | $0 | $0 | $54 |
| Chase Ink Plus (Travel with Grant) | 40K Chase UR Points referral bonus $600 value), Access to Chase UR Transfer partners ($50 value), $43 Alaska Airlines Chase Offer, $31 Quill Chase Offer, $15 Chewy Chase Offer, & $11 Office Depot Chase Offer | $750 | $0 | $95 | $655 |
| Chase JPMorgan Ritz Carlton | $300 Airline Incidental Credit, 85K Marriott Free Night Certificate ($300 value), unlimited Priority Pass Lounge visits + unlimited guests ($100 value) & $5 Starbucks Chase Offer | $705 | $0 | $450 | $255 |
| Chase Southwest Airlines Priority (Laura) | 20K Southwest Airlines Points referral bonus ($270 value), 7,500 Southwest Airlines Points anniversary bonus ($100 value), 4 Upgraded Boardings ($100 value), $75 Southwest Airlines Travel Credit, $15 Comcast Chase Offer, $11 Southwest Chase Offer, & $5 Starbucks Chase Offer | $576 | $0 | $149 | $427 |
| Chase World of Hyatt (Laura) | Hyatt Free Night Certificate ($100 value) & $15 Comcast Chase Offer | $115 | $0 | $95 | $20 |
| Citi Costco Anywhere (Laura) | None (access to Costco) | $0 | $0 | $0 | $0 |
| Citi Custom Cash 1 | $40 AT&T Citi Offer, $25 InKind Citi Offer, $25 Stitch Fix Citi Offer, & $5 Amazon Citi Offer | $95 | $0 | $0 | $95 |
| Citi Custom Cash 2 | $40 AT&T Citi Offer, $25 InKind Citi Offer, $5 Amazon Citi Offer, & $1 eBay Citi Offer | $71 | $0 | $0 | $71 |
| Citi Custom Cash 3 | $40 AT&T Citi Offer, $25 InKind Citi Offer, $5 Amazon Citi Offer, & $2 Shell Citi Offer | $72 | $0 | $0 | $72 |
| Citi Double Cash | $40 AT&T Citi Offer, $25 InKind Citi Offer, $25 Blue Apron Citi Offer, & $25 Stitch Fix Citi Offer | $115 | $0 | $0 | $115 |
| Citi Premier | Access to Citi ThankYou Point Transfers ($50 value), $40 AT&T Citi Offer, & $25 InKind Citi Offer | $115 | $0 | $95 | $20 |
| Citi Rewards+ | 10K rebated Citi ThankYou Points ($150 value), $40 AT&T Citi Offer, $25 InKind Citi Offer, $25 Stitch Fix Citi Offer, $5 Amazon Citi Offer | $245 | $0 | $0 | $245 |
| Discover It 1 | None (5% cash back categories) | $0 | $0 | $0 | $0 |
| Discover It 2 | None (5% cash back categories) | $0 | $0 | $0 | $0 |
| US Bank Cash Plus | None (5% cash back categories) | $0 | $0 | $0 | $0 |
| $5,485 | $0 | $2,464 | $3,021 |
Across 51 credit cards, I paid a total of $5,341 in annual fees, but I received a total of $20,895 in credit card benefits and $360 in retention offers for a net profit of $15,914. I find it funny when I hear people say they hate paying annual fees or avoid credit cards with annual fees like the plague. Most credit cards that have annual fees provide benefits that offset or exceed the annual fee, if you are able to jump through some hoops to get the benefits.
If you have any questions about any of these credit cards, please leave a comment below. Have a great day and happy holidays everyone!