Hot answers tagged

59

For the first time in my life, at 54 (4 years ago) I signed up for a card with a $99 fee, after the first year. My daughter was at college, and there was one airline with very convenient times to her city. The card offered a 60,000 mile bonus after spending the first $1000. That alone was worth nearly $1000 in flights, as our round trips were short enough ...


32

Some cards offer perks that may be valuable to certain customers. For example when I used to travel frequently I paid for an Amex Platinum card. There's a perceived prestige to use this card and it also allowed me access to many premium airline lounges. It also granted me certain upgrades without the normal fees, and I had enhanced financial protections in ...


12

People pay an annual fee for: Extra benefits they use: cash back, airline miles, hotel perks, no foreign transaction fees... Extra benefits they think they will use: airline miles, hotel perks, no foreign transaction fees... ... Prestige: the color of the card tells everybody that they paid for the expensive one... Is it worth it for you? To some people ...


11

I have a bunch of different credit cards for different purposes. Our main spending card gets 2.65% cash back at $0 annual fee. We have one card that charges an absurd annual fee of $525. Why would ANYONE pay that? Turns out you get $300/year in travel credit which it reduces it to $225 and it comes with a free premier-class membership to Priority Pass, which ...


10

There are some good answers here. A common theme among them is "people pay the fee because it's outweighed by the benefits". I agree that that is true, in some cases. However, I think there is an implicit suggestion in your answer, and I think in some cases it is also correct: people pay the fee because they are making a mistake. It is possible ...


6

My bank account is at the GLS Bank, a "social-ecological bank" in Germany. The fees, including the ones for credit cards, are high compared to basically any other bank. The advantage is, to me, that my money is only used for projects that I deem worthwhile and that are aligned with my social and environmental values. Sure, I could get a couple of ...


3

I agree with the answers given. Adding one additional motivation: Credit challenged customers may not have a lot of options. Especially when rebuilding credit after something like a bankruptcy, consumers will generally take what they can get and consider the fees a cost of reestablishing a good credit score.


2

It’s the same as with any other purchase — because the perceived benefit to the purchaser exceeds the cost. The most likely reason for that to be the case is more generous cashback offers than free cards. If you spend $20,000 per year on your card (or can easily arrange to do so), then it’s worth paying up to $399 per year for 2% cashback.


2

These might help: https://www.irs.gov/individuals/international-taxpayers/determining-alien-tax-status If you are an alien (not a U.S. citizen), you are considered a nonresident alien unless you meet one of two tests. You are a resident alien of the United States for tax purposes if you meet either the green card test or the substantial presence test for ...


2

Some credit card offers have their most attractive propositions in the form of balance transfer options where they chart their profit more on annual fees and less on interest. Many offer no interest for a fixed period of time for transfers. If you're currently paying over $100 / monthly in interest on one or more variable APR cards and another company is ...


2

The answer is if you are native, you get a native status card and you are exempt from paying taxes. I know this because my husband is native and uses a native status card (and we live in Canada), at Walmart and they need to enter the number before any of your items are scanned so that's why they have the signs up because people will give the card usually ...


1

There are many great answers that revolve around a general theme, which I think is very well stated in this article: [It's worth paying an annual fee]...as long as the card's extra benefits outstrip the cost of carrying it. The article mentions some common reasons (and provides details for each) when it's "worth it" to pay the fee: You need to ...


1

I'm Canadian and I had these two credit cards CC1: 2 point per $ on everything with 120$ yearly fee and get 10,000 points per year. 1 point = 0.01$ redemption value. CC2: No annual fee + no rewards I used my CC1 for each and everything I could use for. Pay the whole amount before end of the month so I would not pay any interest. I also redeemed the ...


1

I assume that if you can take these antiques in your carry-on when you fly to Canada then they are reasonably small. If so, you can buy USPS insurance for up to $5,000 to protect against loss or damage. You can view the cost of the insurance here. There are also provisions for Special Handling for fragile shipments including unusual items like bees, animals, ...


1

Its a scam: https://arstechnica.com/information-technology/2016/12/thieves-can-guess-your-secret-visa-card-details-in-just-seconds/ The numbers can also be inferred by combining your first six digits—which are based on the card brand, issuing bank, and card type—with a verification formula known as the Luhn Algorithm.


1

In Canada a cheque is "stale" after 6 months. There is a risk it will be dishonoured. Ask you bank or refer to their website. They have no obligation to pay, it will be paid as a courtesy perhaps. Certified Cheques and other pay on demand instruments are not necessarily treated the same way. You should accept the need to provision for unpresented ...


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