One of the most misunderstood concepts about credit cards is understanding an annual fee. Often, I hear people say something like “I don’t like credit cards because you have to pay an annual fee.”
It’s true. Some of the best credit cards do have an annual fee. However, it’s also true that some of the best credit cards DO NOT have an annual fee. And if you’re doing your research – which you should be doing – it’s easy to spot the cards that have perks that can off-set the annual fee.
Over the past two years, I’ve highlighted various American Express credit cards that have been in my wallet and have offered great savings.
In fact, last year I wrote an article titled “would you pay $100, to save $500?” where I highlighted how I am able to off-set much (if not all) of these annual fees simply by taking advantage of the ‘Amex Offers.’
If you’re not familiar with Amex Offers, it’s a program where your American Express credit cards are targeted for various savings and bonus offers. In many cases, these offers can save you big money.
HOW DO I SEE MY ‘AMEX OFFERS?’
To view your Amex Offers, login to your Amex account and scroll to the bottom of your account summary page where you’ll see a list of eligible offers for that specific card. It should look like this…
The offers vary from person to person and can come in different forms. For example, one individual may be offered points for spending a certain amount of money, while another individual may be offered a dollar credit for spending the same amount of money.
AMEX OFFER HIGHLIGHTS
Spending habits differ from person to person but one aspect is true of everyone, you’re going to be spending money somewhere. Cell phone bill, gas for your car, groceries (and/or meal delivery service), amazon, travel, etc.
The ultimate goal is to choose a card that awards you for your normal spending habits thus you’re able to justify the annual fee.
STOP TALKING…GIVE ME AN EXAMPLE!
Generally, most standard entry level cards (from any bank), have an annual fee of less than $100, but let’s just stick with $100 for easy math.
This list below is a combination of offers I’ve seen over the last two years…
Planning to go stand in line with other Black Friday enthusiasts at Best Buy?
Well, don’t forget to fill up before you go…
…and remember, you can add this offer to the same card and “stack” the benefits so you receive even more money off…
Not interested in going to a brick and mortar store and would rather shop from your couch?
Shopping from your couch takes a lot of energy. Planning on having food delivered?
Don’t forget, you need dinner for the week…
Not feeling Blue Apron and prefer Sun Basket (which can be used twice)?
Promised yourself that 2020 (or maybe 2021 at this point) was going to be different and you were actually going to use that PTO instead of letting your job stress you? Enjoy those warm chocolate chip cookies in the Doubletree lobby…
Speaking of vacations, you just remembered that your good friend planned a bachelor/bachelorette party in Las Vegas and you want to save some money (I did when I went to Vegas)…
What are you going to do with your dog if you go to Vegas?
Ok, that’s enough…you get the point!
Again, everyone’s spending habits are different so savings can vary from person to person but over the course of a year, can add up.
You may remember that in August, I applied and was approved for the American Express Gold Card [DETAILS] – you can read all about my journey through approvals and denials HERE.
Important Note: The card has an annual fee of $250.
Well, as I was searching through my Amex offers this morning, I noticed this…
That’s right! Since August, I have saved more than $1000 just by using my Amex Offers.
Again, every offer is not going to “fit” your lifestyle but let’s return to the annual fee discussion. Would you pay $250 annually to save $1000 (or more) on purchases that you were already going to make?
Have you ever purchased anything from the grocery store? Amex offer!!
Have you ever paid your cell phone bill? Amex offer!!
Have you ever purchased anything on Amazon? Amex offer!!
Have you ever filled the gas tank on your car? Amex offer!!
Have you had food delivered? Amex offer!!
Have you stayed in a hotel? Amex offer!!
Why pay full price for anything!?
You may also remember that a few days I wrote about the American Express Gold Card [DETAILS] receiving a slight revamp over the next year.
Given the card revamp, the current increased welcome bonus on the card, amazing Amex offers, and the fact that you’re going to eat something from the grocery store or from a restaurant (both 4x categories), this card more than pays for itself and it would be an amazing time to apply for the card.
As I always say…if you’re a numbers person, you’ll recognize that utilizing one (and hopefully more) of these Amex Offers can more than offset the annual fee for a card.
FOOD FOR THOUGHT: There are Amex cards that do not have an annual fee and still have Amex offers. CLICK HERE AND CHECK THEM OUT. You’re welcome! 😉
Have you ever used an Amex offer? If not, do you plan on taking advantage of the offers now that you are aware of them?
Let’s get straight to the point…some of the links on this site pay 1TattedPassport a referral bonus for anyone that is approved. For our complete advertising policy and details about our partners, please click HERE. Although using the links are completely optional, we are eternally grateful when you do.
That’s so amazing!!!! I didn’t think to look at it that way.
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@J.O. And that’s solely from Amex Offers. What happens to the value once you factor in any points that you received from the purchases or other benefits of having the card (e.g. airline credit, etc.)? I’m glad to hear this helps. Stay tuned, more “lightbulb” moments to come.
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