Rising Fees Force Premium Credit-Card Holders to Choose Sides
For nearly a decade, Jeff Brenner carried two premium credit cards without giving much thought to the fees. Then in June, JPMorgan Chase raised the annual cost on his Sapphire Reserve card by 45% to $795 and American Express teased something similar on his Platinum card. The choice was clear: Get rid of the Platinum card before his annual fee goes up 29% to $895 next year and shift most of his estimated $8,000 to $10,000 in monthly spending to his Sapphire Reserve.