3 Rewards Cards That Americans Don't Mind Paying For

People often wonder if it's worth paying an annual fee for a credit card. According to the results of the J.D. Power 2023 U.S. Credit Card Satisfaction Study^SM, the answer is a resounding yes. The top three rewards cards in the rankings all charge annual fees, and their fee amounts range from $250 to $695.

The advantage of cards with annual fees is the benefits they offer. That's the case with these three, as they're all packed with valuable features. If you're interested in getting a new card, here are Americans' current favorites.

1. Bank of America® Premium Rewards® Elite credit card

Highlights:

• Welcome offer of 75,000 points (worth $750) after you make at least $5,000 in purchases within 90 days of account opening, as of September 2023.
• 2 points per $1 on travel and dining purchases
• 1.5 points per $1 on other purchases
• Up to $550 in automatic statement credits
• Airport lounge access with up to four Priority Pass memberships
• Save 20% on domestic or international airfare for any class when you pay with points
• 25% to 75% credit card rewards bonus for Bank of America Preferred Rewards clients

Bank of America's top travel card scored 712 points, putting it far ahead of the average of 611. While it has a $550 annual fee, it also has several valuable travel perks and a high rewards rate. The option to save 20% on airfare when you pay with points is especially useful.

Plus, if you meet balance requirements with Bank of America, you can join its Preferred Rewards program. One of the many perks is a credit card rewards bonus with all your Bank of America credit cards.

If you're looking for something more affordable, there's also the Bank of America® Premium Rewards® credit card. It has many (but not all) of the same benefits.

Apply now for the Bank of America® Premium Rewards® credit card.

2. American Express® Gold Card

Highlights:

• Welcome offer of 60,000 points after you spend $6,000 on purchases in the first 6 months
• 4X Membership Rewards® Points per $1 at restaurants; takeout and delivery in the U.S.; and U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X)
• 3X Membership Rewards® Points per $1 at flights booked directly with airlines or on amextravel.com
• 1X points per $1 at other eligible purchases
• per $1 at
• Up to $120 in annual dining credits and up to $120 in annual Uber Cash
• terms apply

The American Express® Gold Card came in second with 693 points. It's not too expensive compared to the other cards on this list, with a $250 annual fee (see rates and fees). If you can take advantage of the benefits, they more than make up for that fee. This card is great for foodies, whether you prefer dining at restaurants or cooking meals at home, because of its bonus categories. And if you can use the dining credits and Uber Cash, that saves you $240 per year (terms apply).

Apply now for the American Express® Gold Card.

3. The Platinum Card® from American Express

Highlights:

• Welcome offer of 80,000 after you spend $8,000 on purchases in the first 6 months
• Over $1,500 in annual spending credits
• 5X points per $1 at flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year
• 5X points per $1 at prepaid hotels booked with American Express Travel
• 1X points per $1 at other purchases
• Complimentary Marriott Bonvoy Gold Elite status and Hilton Honors Gold status
• Terms apply

The Platinum Card® from American Express scored 687 points. Its points total was just shy of its hefty $695 annual fee (see rates and fees). For paying that fee, you receive a seemingly endless list of benefits that can help you save on travel, shopping, and everyday expenses. This card is for big spenders and frequent travelers, so if you fit into either group, it could be worth getting.

Apply now for The Platinum Card® from American Express.

Paying an annual fee can pay off

When looking for a new credit card, being open to cards with annual fees is a good idea. An annual fee is often a small price to pay for the benefits and the level of service you receive.

J.D. Power's rankings are evidence of that. The highest score for a rewards card with no annual fee was 666. There were five annual fee rewards cards with better scores.

Ultimately, the right card is the one that saves you the most money. When you compare top credit cards, look at both how much they cost in annual fees and how much they'd save you with their benefits. An annual fee card isn't the best choice for everyone -- but there could be one that works perfectly for you.