Is an Annual Credit Card Fee Worth It?

Is an Annual Credit Card Fee Worth It?

If you're in the market for a credit card, you may have a number of offers to consider, some of which come with annual fees and some of which don't. At first glance, the idea of paying an annual credit card fee might seem silly. Yet credit card companies that impose fees also tend to offer enough benefits to more than compensate you. For example, earning rewards points might be easier with an annual fee card, and you might also enjoy some valuable perks, from car rental discounts to airport lounge access.

So how much of an annual fee might you pay? According to 2015 data from NerdWallet, the average annual fee is $58, and that's based on a survey of over 2,200 cards. That said, credit card fees can climb as high as several hundred dollars, so you'll need to consider whether it's worthwhile to pay that much.

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Source: Fool.com