New answers tagged

0

I got extra benefits travelling on an amex gold card. It also provided extra guarantees when I bought expensive items with it. And there was prestige back then using it. I got first class move to front of line service in Paris when I went to a bank. I impressed clients folks I was travelling with when I was consulting to them. Now I am not sure about ...


0

People trying to reestablish their credit sometimes have no choice but to pay a fee for credit usually they also very limited credit limit.


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 ...


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.


0

I've been looking for this online and some posts do indicate that it doesn't lead to tax liability in the US, but I haven't found comprehensive info. And to comment on the previous post (I couldn't leave a comment directly there), there are advantages to getting paid to a US account exactly because of the conversion rates mentioned in the previous post, ...


0

The perceived, or actual benefit value, exceeds the cost. (Or people just want to act fancy, yes that's a larger percent of customers than you may expect) Remember that the credit card company charges the vendor 1-5% per transaction. Therefore, they can afford to let the customer make back more in benefits / cash back / special offers than they spend 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 ...


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 ...


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 ...


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 ...


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 ...


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 ...


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 ...


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 ...


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

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

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 ...


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.


0

You are correct the basic insurance that an US customer has won't cover the act of moving your possessions between homes. The basic insurance that a moving company offers is based on weight, which makes it a terrible option for valuable items because if they lose/break a 5 lb antique, the amount they reimburse will be the same as if they lose 5 lbs of t-...


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 ...


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, ...


Top 50 recent answers are included