The annual fee for holding certain American Express cards is going to increase by $35 to $125, while other card holders might see fees decline. Are these fees really worth the service? American Express would like you to think that being able to hold one of their expensive cards — being accepted into a “club” — is some kind of privilege. The old days of credit cards being exclusively for the rich are long over.
For those who enjoy AmEx’s rewards program, there are some changes coming there, too. No more “double rewards” for purchases in grocery stores, drug stores, and gas stations.
The only card I use is CitiBank’s Platinum Dividend Select Rewards card, which proves me with hundreds of dollars in cash back every year.
Updated February 6, 2012 and originally published August 1, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.