Would you pay for a credit card?

[paddyhasneeds]

I've had an amex credit card for a few years now and have never had to pay a fee for having it. It gets used for petrol and that's pretty much it.

I just noticed they've charged a £36 "annual fee" on the latest statement. Before I cancel as I can't see any benefit at all in paying them £36 a year for the card, am I missing anything obvious?

I'm a thoroughly boring sod so there's no chance of me needing a guy on a rikshaw to deliver me a card in Bangkok at 3am so I can pay a bar tab.

I only ask the question as my other card is just a visa debit card, so if I ditch the amex I'll probably get a "proper" credit card because of the credit card protection, couldn't care less about APRs/offers as it gets paid each month.

[mrmaggit]

I've just changed from a free card to a money-back card that charges £24/year. In one month I've had nearly £4 rebate, so at that rate I'm going to be up. But I will be checking carefully.

[14-7]

I would never pay to have a credit card or bank account and I don't see why anyone would or should. The banks make a lot of money off what you and I leave in accounts.

I have a capital one cc which pays 1% cash back annually. Normally nets me £1-140 a year.

[bogie]

depends on the benefits for the fee surely

I have a Virgin black Amex I use solely for business expenses and get airmiles in return...usually I can get 10-20000 miles a month and a couple of free upper class tickets a year ...thats like £3.5 to £7K ish of "free" tickets for holidays just from using one card for everything and paying a fee

[Welshbeef]

You sir wouldn't be the sort interested in an Amex Centurion

[Deva Link]

paddyhasneeds said:

I've had an amex credit card for a few years now and have never had to pay a fee for having it. It gets used for petrol and that's pretty much it.

I just noticed they've charged a £36 "annual fee" on the latest statement. Before I cancel as I can't see any benefit at all in paying them £36 a year for the card, am I missing anything obvious?

Which card is it? Amex has loads of cards and I don't pay for mine and get a rebate on what I spend.

paddyhasneeds said:

I only ask the question as my other card is just a visa debit card, so if I ditch the amex I'll probably get a "proper" credit card because of the credit card protection, couldn't care less about APRs/offers as it gets paid each month.

Visa debit gives you protection.

[cailean]

Capital One is cash back and no fee.

[uuf361]

No, I wouldn't pay - those I've seen that charge don't offer enough benefits that I'd use to justify the fee....

[Pints]

mrmaggit said:

I've just changed from a free card to a money-back card that charges £24/year. In one month I've had nearly £4 rebate, so at that rate I'm going to be up. But I will be checking carefully.

I was also checking out this particular card a day or so ago. Seems very tempting, considering the cashback rewards are much better than my current card (for which I don't pay an annual fee.)

[anonymous-user]

I do, but I might not in the circumstances you describe

I would go for a cashback card that, based on my expected spending, gave me the most cash back in the year.

According to moneysavingexpert, one to look at is the Capital One World Mastercard Platinum Moneyback Card

[AtticusFinch]

cailean said:

Capital One is cash back and no fee.

This^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

[sinizter]

I would pay a fee depending on what benefits are available.

But not for just a card.

[Pints]

AtticusFinch said:

cailean said:

Capital One is cash back and no fee.

This^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

But the rate (after the first 3 months) is only 1.25%.

[sinizter]

Pints said:

But the rate (after the first 3 months) is only 1.25%.

Only ?

How much more did you want ?

[Pints]

sinizter said:

Only ?

How much more did you want ?

The Santander card is paying 1% on groceries, 2% in department stores and 3% on fuel.

[sinizter]

Pints said:

sinizter said:

Only ?

How much more did you want ?

The Santander card is paying 1% on groceries, 2% in department stores and 3% on fuel.

To a max of £300/month spend on fuel (£9/m) any more and you get nothing.

You would have to run your own numbers to see which one is better, but even a flat rate 1% performs better for me than the Santander 123 ever will. For my wife, it would do well.

[Pints]

sinizter said:

To a max of £300/month spend on fuel (£9/m) any more and you get nothing.

You would have to run your own numbers to see which one is better, but even a flat rate 1% performs better for me than the Santander 123 ever will. For my wife, it would do well.

Fair enough. For us the 123 would return more.
And considerably more than the rubbish cashack I'm getting on my Barclaycard.

[Kudos]

bogie said:

depends on the benefits for the fee surely

I have a Virgin black Amex I use solely for business expenses and get airmiles in return...usually I can get 10-20000 miles a month and a couple of free upper class tickets a year ...thats like £3.5 to £7K ish of "free" tickets for holidays just from using one card for everything and paying a fee

Fees?

Any problem using one in the UK?

Am thinking of getting one too, just wondering if it's any use

[Peter Griffin]

Welshbeef said:

You sir wouldn't be the sort interested in an Amex Centurion

To be fair, not many current Centurion customers are either.

I downgraded mine to Platinum when they hiked the fee and have now just junked that when they changed the travel insurance t&cs.

[bogie]

Kudos said:

Fees?

Any problem using one in the UK?

Am thinking of getting one too, just wondering if it's any use

£140 a year
18% if you let a balance run on it
http://uk.virginmoney.com/virgin/vaa-amex/

no probs using it in most places these days...they give you a VISA to go with it on same deal anyway