Top 7 Credit Cards With Annual Fees Worth Paying

Capital One® Venture® Rewards Credit Card

33-capital_one_venture_credit_cardPay no annual fee the first year you open the Capital One® Venture® Rewards Credit Card. Each year after that, the annual membership fee is $59. The card offers perks such as no foreign transaction or transfer fees. There is also no fee for going over your credit. The current promotion offers a one-time bonus of 40,000 miles when $3,000 is spent on purchases within first 3 months of opening the card.

Card highlights (Updated 7/18/14):

  • Earn unlimited 2X miles on every purchase, every day
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Fly any airline, stay at any hotel, anytime
  • Miles don’t expire
  • No limit to the miles you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that

Citi Platinum Select / AAdvantage World MasterCard Credit Card

Citi Platinum Select MasterCardSigning up for the Citi Platinum Select/AAdvantage World MasterCard Credit Card provides a variety of instant perks. Get an eligible first bag checked for you along with four travel companions for free on your first flight. You also get to earn savings every time you use your card for in-flight food and beverage purchases. The card offers the ability to use the new Citi Card with Chip Technology to enjoy being accepted anywhere around the world.

Card highlights:

  • $95 annual fee
  • Earn 2 AAdvantage miles for every $1 spent on eligible American Airlines purchases
  • Earn 1 mile for every $1 spent on all purchases
  • Receive 25% savings for in-flight food and/or beverage purchases
  • Enjoy group 1 boarding to save time preparing for a flight

Platinum Card from American Express

american-express-platinum-credit-cardAn annual fee of $450 may seem outrageous, but the American Express Platinum Card definitely pays for itself for those that take advantage of all the perks. This card is designed for frequent travelers. With no interest charge or foreign transaction fees, this card can prove very valuable.

Card highlights (Updated 3/11/14):

  • $450 annual fee
  • Earn 40,000 points after you spend $3,000 on purchases on your new Card in your first 3 months.
  • With the Platinum Card, you can receive up to $200 a year in statement credits for airline incidental fees like checked bags fees, flight-change fees, and snacks.
  • To receive the statement credit, you need to enroll and select a qualifying airline.
  • There are no foreign transaction fees with purchases made on your Platinum Card.
  • Platinum Card Concierge is your personal resource to help secure a last minute restaurant reservation, or shop for a hard-to-find gift.
  • Terms & restrictions apply.

The $200 incidental fee reimbursement is from incidental charges made by airlines. Fees like baggage claim, flight-change, in-flight food, and beverages are reimbursed for an amount up to $200. Half of the card can almost pay for itself for frequent travelers.

Barclaycard Arrival World MasterCard

barclaycard arrival plus world elite mastercard(Update 5/14/14: The card has been rebranded as the Barclaycard Arrival Plus World Elite MasterCard.)

If you like to travel but an annual fee of $450 is too much for you, then look at the Barclaycard Arrival World MasterCard. This card has an annual fee of $89. It also has no foreign transaction fee. It may benefit those who travel internationally a couple of times or more a year.

Card highlights:

  • $89 annual fee, waived first year
  • 10% miles back to use toward your next redemption every time you redeem for travel statement credits
  • Earn 2x miles on all purchases with no cap

A unique feature this card has to offer is the ability to redeem 10% miles back. So if you travel 20,000 miles you can redeem up to 2,000 miles back in in statement credit.

First Progress Platinum Elite MasterCard Secured Credit Card

First Progress Platinum Credit CardNeed helping working your way out of debt? For an annual fee of $29, you can open the First Progress Platinum Elite MasterCard Secured Credit Card. This credit card is designed for people that want to open a new line of credit. Reestablish your reliability as a borrower with this credit card if you are having a hard time opening an account elsewhere. Your credit history or score won't be checked for approval.

Card highlights:

  • $29 annual fee
  • 19.99% APR
  • No credit history or minimum credit score required for approval
  • Secured by your refundable deposit of $300 - $2,000
  • Monthly reporting to all three major credit bureaus to help build credit history

Capital One Spark Cash Business Credit Card

Capital-One-Spark-Cash-Select-for-BusinessThe Capital One Spark Cash Business Credit Card lets you earn an unlimited 2% cash back on all purchases for your business. The cash rewards you earn don't expire and can be redeemed at anytime. The annual fee is $59.

Card highlights (Updated 7/18/14):

  • $59 annual fee
  • 2% unlimited cash back on all purchases
  • Earn one-time $200 bonus when $3,000 on purchases is made within 3 months of approval.
  • Earn one-time $50 bonus when an additional employee card is signed up within first 60 days

Chase Sapphire Preferred Credit Card

chase_sapphire_preferredA card that can reward you for opening an account right away is the Chase Sapphire Preferred Credit Card. Earn 40,000 points that can be redeemed for travel if you spend $3,000 within the first 3 months of opening the card. It may be a good idea to open this card just before you book an international trip and you could earn instant rewards.

  • $0 annual fee first year, $95 annual fee after
  • 15.99% APR
  • Earn 40,000 bonus points in travel when $3,000 or more is spent on purchases within first 3 months
  • Earn additional 5,000 bonus points when first authorized user signs up and completes a purchase within first 3 months
  • 20% off travel, can be redeemed for hotel stays, airfare, car rentals, and cruises through Chase Ultimate Rewards
  • No foreign transaction fee
  • Automatic 7% points dividend on new points earned all throughout the year