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    Is anyone here thinking or have downgraded some high annual fee credit cards?

    Hey guys just wondering if anyone has downgraded or thinking of downgrading their annual fee credit cards due to the rising cost of everything.

    I am thinking of downgrading my chase sapphire reserve. I don’t see myself traveling so much due to the cost of travel at the moment

    Is anyone here thinking or have downgraded some high annual fee credit cards?
    byu/Raginggreg1337 inCreditCards



    Posted by Raginggreg1337

    11 Comments

    1. New-Anteater-1493 on

      Been considering this too – my travel spend dropped way down this year so those premium perks aren’t worth the fee anymore.

    3. RelationComplete2922 on

      Yes. I’ve found that my family travels 2-3 times per year, rarely use the airport lounges, and have found myself over maximizing and having a lot of annual fees to manage.

      That being said with rising costs and just the ease of things, I’m considering going down to maybe 1-2 cards and in return also slashing my annual fees.

      Cards I’m thinking of closing:
      Bank of America Premium Rewards Elite ($550 AF)
      Amex Blue Cash Preferred ($95 AF)
      Amex Gold ($325 AF)

      Cards I’m debating on using:
      FAIRWINDS Signature Visa ($95 AF)
      Bilt Palladium or Obsidian (want the Palladium but not sure of annual fee).

    5. Briaraandralyn on

      I just did this with the VX and went down to the V-One. I still have the Savor and my US Bank Connect card, so I’m comfortable. If my Connect card would offer car insurance, then I’d be set without the V-One. As it is, I travel international and tend to get a rental car, so the V-One is necessary.

    6. browneyedgirlpie on

      We are closing chase sapphire reserve. The changes to benefits and cost no longer make sense for us.

    7. cakebythejake on

      Just downgraded my Delta Amex Reserve to the blue delta amex.
      No way their lounges or the other card perks add enough value to pay the AF on that card (for me) anymore.

    9. TESLAMIZE on

      Im canceling my CSR, not because I wont travel but the because the last “update” made it and overly complicated coupon book that I dont have time to manage.

    10. EAGLeyes09 on

      Ever since getting BILT palladium. I’m thinking of downgrading my blue cash preferred to just a blue cash everyday. Keeping my preferred as is due to 100k points that I need to figure out where to transfer to(probably JetBlue or Hyatt) and also the primary CDW.

    11. ilovefacebook on

      just said a sad goodbye to the usbar on Friday. went with the connect. was tempted to hold on one more year (because i could easily take advantage of the travel credit) , but unless they did a complete overhaul of their points system or they had amazing ratios for transfer partners, it just didn’t make sense any longer

      and downgraded to the citi aa mileup card.

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