If you’re looking to get more value from the money you spend, you should look for a card that offers more perks for a lower annual fee. While the Amex Platinum’s $695 annual fee is on the high side, the annual fee on the refreshed Chase Sapphire Reserve is now at $795.
Also note that the authorized user fee on the Chase Sapphire Reserve was increased from $75 to $195 on the updated version of the card. That puts it on par with the authorized user fee on the Amex Platinum, which is also $195.
That said, paying the annual fee on the Chase Sapphire Reserve could still be worth it, especially if you’re eligible to sign up and earn the welcome bonus. After all, the new cardmember bonus can easily be worth $1,000 to $2,000 in travel, whether you use points to book through the portal or you transfer rewards to Chase airline and hotel partners for a premium travel redemption.
The $500 Chase Travel promo credit that’s in the welcome offer right now is even more icing on the cake, and it makes paying the annual fee an even better deal the first year.
