For example, TPG contributing editor Matt Moffitt balks at the $695 annual fee (see rates and fees) that posts to his Amex Platinum each year. He always asks for a retention offer using the Amex Chat function on his online account.
He is usually offered 10,000 to 20,000 bonus points for spending $3,000 on the card in three months, which are worth $200 to $400, according to TPG’s June 2025 valuations. This essentially drops his annual fee to $295 to $495, which is much more palatable.
: The ultimate guide to credit card retention offers
Bottom line
At TPG, we believe many credit card annual fees are often worth paying. Still, we know that those fees can add up, and it’s important to consider carefully whether an annual fee is worth paying, both when you’re considering getting a new card and thinking about downgrading one you already have.
To help you decide, take a look at your whole card portfolio and evaluate how much the card’s credits and other benefits add to your life. If it’s not much, you know you can downgrade or skip applying for the card in question. If the card adds significant value, you can feel confident paying its fee each year.
: Considering canceling your credit card? Here’s why you might want to ‘downgrade’ it instead
For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Gold, click here.
For rates and fees of the Amex Bonvoy Brilliant, click here.