Why does Amex have an annual fee?

American Express has an annual fee on some cards to help offset the cost of rewards and the various other benefits that Amex cardholders enjoy. American Express credit card annual fees range from $0 to $695, depending on the card. Generally, the higher the annual fee, the more rewards and benefits the card is likely to offer.

American Express typically charges annual fees when the cardholder opens an account and again on each account anniversary. Some Amex cards will have no annual fee for the first year, and some won’t ever charge annual fees.

Annual Fees for Popular American Express Credit Cards

• Blue Cash Everyday® Card from American Express: $0 annual fee
• The Platinum Card® from American Express: $695 annual fee
• American Express® Gold Card: $250 annual fee
• Blue Cash Preferred® Card from American Express: $0 intro 1st yr, $95 after annual fee
• Delta SkyMiles® Platinum American Express Card: $250 annual fee
• American Express Cash Magnet® Card: $0 annual fee*
• Marriott Bonvoy Brilliant® American Express® Card: $650 annual fee
• The Business Platinum Card® from American Express: $695 annual fee

If you’re unlikely to get enough out of an American Express card’s rewards and benefits to cover its yearly price tag, you’re better off looking for an offer with no annual fee. American Express has several $0 annual fee credit cards worth considering.

*All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.