The refreshed premium cards rolled out over the past few months by the likes of Chase and Amex are prompting a reshuffling among affluent consumers. Many with multiple high-fee cards are choosing one, and shifting their spending accordingly. They don’t want to pay more than $1,000 in annual fees only to receive two sets of complex perks that require meticulous tracking.
“The average American sees a $600 or $800 annual fee and just says, ‘No’ right off the bat, but that’s not who these cards are for,” said Matt Schulz, chief credit analyst at LendingTree, a personal-finance site.
https://www.wsj.com/personal-finance/credit-card-fees-customer-loyalty-b31c2eac?mod=hp_lead_pos6
