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Are Triple-Digit Annual Fee Credit Cards Worthwhile?

Posted in: Feliciano School of Business, Marketing

Feliciano School of Business professor at Montclair State University, Dr. Patrali Chaterjee from the Department of Marketing recently provided her expert perspective to WalletHub regarding triple-digit annual fee credit cards. These luxury credit cards with very high annual fees, like the Platinum Card from American Express, target high net worth frequent travelers enticing them with benefits that make the card worthwhile.  Benefits might include complimentary lounge access and exclusive dining experiences. These cards also provide a way for individuals to signal and impress others with their high-end financial status.  The luxury cards, too, provide an opportunity for companies like Amex to recoup their costs targeting effort costs in launching the new card.