The Annual Fee Worksheet

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Is Your Card Still Worth It?


As of April 2026, premium travel cards have officially hit record annual fees. The Amex Platinum is now $895, and the Chase Sapphire Reserve has climbed to $795.

Because these cards are now "coupon books" rather than simple service products, you are likely losing money if you aren't auditing your wallet every 6 months. Use this text-only worksheet to calculate your True Cost of Ownership (TCO).


Step 1: The Raw Math


List every travel card in your wallet.

  • Card Name: __________________________

  • Annual Fee (A): $__________

  • Retention Offer (B): $__________ (Any statement credits or points the bank gave you to stay after you threatened to cancel)

  • NET FIXED FEE (A - B): $__________


Step 2: The "Organic" Credit Valuation


The Utility Rule: Only count credits for things you would have paid for anyway. If you only used a credit because "it was there," its value is $0.

2026 Key CreditsTypical ValueYour Organic Value
Travel/Airline Credit($200 - $300)$__________
Dining/Resy/DoorDash($120 - $400)$__________
Streaming/Digital($120 - $240)$__________
Lifestyle (Lululemon/Gym)($100 - $300)$__________
Lounge Access (Estimated)($50 per visit)$__________
TOTAL CREDIT VALUE (C):$__________


Step 3: The Verdict


Calculate your True Cost of Ownership:

$$Net Fee - Total Credit Value = TCO$$

  • Result is Negative: The card is paying you to hold it. KEEP.

  • Result is $0–$100: You are paying for "convenience" or "status." EVALUATE.

  • Result is $100+: You are losing money. Your loyalty to this brand is a "tax." ACTION REQUIRED.


Step 4: The 2026 "Lounge-mageddon" Check


In 2026, guest access and even primary entry to many lounges (like Capital One and Delta) are gated by a $75,000 annual spend bar.

  • If you spend <$75k: You are likely paying $45–$50 per guest or $125 per authorized user.

  • The Math: If your TCO (Step 3) is already high and you are paying for lounge guests out of pocket, the card is a financial failure.


The Bottom Line

In the 2026 travel landscape, being a "Free Agent" means you don't pay for what you don't use. If your math doesn't work out, don't cancel—downgrade.

Post 3:  How to Downgrade Your Card Without Losing Your Points

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