I Pay $2,724 a Year in Credit Card Annual Fees and Come Out Way Ahead on Benefits - Here's How

"As a full-time digital nomad and credit cards writer, I naturally have more credit cards in my wallet than the average person. However, I don't have nearly as many as my colleagues. I know people with 20, 30, or even 40 credit cards in rotation at any given time. Right now, I have 10 active credit cards that I utilize for nearly every purchase I make."

"My 10 Cards that Charge $2,724 in Annual Fees In my wallet right now are 10 credit cards with annual fees that total $2,724. Here's the breakdown of the eight that have annual fees: That brings me to a total of $2,724 in annual fees each year. When you see it written out like that, it might look unnecessary or even irresponsible. But as you'll notice, five of these cards are general travel rewards cards that earn transferable points."

"How I Unlock Nearly $5,000 in Annual Value From Statement Credits My list of statement credits is seemingly endless. It definitely takes work to maximize each of these credits, especially those that are earned monthly. Sometimes I forget about a credit and leave money on the table, but that's part of the reason AwardWallet's tracking tools come in so handy."

Ten active credit cards are used for nearly every purchase, eight of which carry annual fees totaling $2,724 per year. Five of the fee cards are general travel rewards with transferable points, while three are co-branded airline or hotel cards. Two cards in the wallet carry no annual fee. Statement credits and card benefits generate nearly $5,000 in annual value, largely offsetting the fees. Maximizing monthly and varied statement credits requires tracking and effort. Tools like AwardWallet help monitor credits and prevent leaving value unused. The strategy emphasizes net value from transferable points and statement credits.

Read at AwardWallet Blog