Is your premium credit card worth US$550 a year?
As card issuers hike fees on their most 'special' cards, do the sums to see if all those perks make sense for you
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New York
JPMORGAN Chase created a sensation last year with a new credit card, the Chase Sapphire Reserve, crafted from "a proprietary mix of embedded metals". Also sensational, and pretty crafty, was the annual fee of US$450. A turnoff? So many people signed up, Chase ran out of embedded metals.
Fighting back, American Express sweetened some of the perks on its own, 33-year-old premium card, the Amex Platinum. Included in the company's latest enticement? An increase in annual fee from US$450 to US$550.
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