New Tool to Decide if a Card is Worth the Annual Fee!

I am a straight up numbers nerd. Seriously, I love spreadsheets. Just ask my husband what my spreadsheets look like when we go on vacation. I take far too much joy in them. It is very common for me to calculate when cards are worth the annual fee or not via spreadsheet. For instance I broke down how you should cancel (or downgrade) your Chase Sapphire Preferred after checking if the card is worth the annual fee.

So imagine my excitement when I found that a Reddit thread where a user created a new tool to very easily calculate whether a credit card is worth the annual fee. I may love spreadsheets, but I love tools like that require no work even more! – Whether a card is worth the annual fee is one of the simplest and most straightforward ways I have found to determine whether to hold on to a card after you get the sign-up bonus. Even better, the Reddit user who created it, unisaurus, quickly updated the calculators based on feedback to also show you how much you would earn on a card vs. a standard 2% cash back card. homepage homepage – 66 different cards listed!

The calculators for each tab don’t just take bonus categories into account. They also take into account, and allow you to choose, how much you value the perks on each card. From Global Entry credit, to Amex Offers, to airline credits.

This is huge because if I have three cards that offer a Global Entry credit it really isn’t a big perk since 1) I have Global Entry for another 3 years and 2) I have two other cards that offer the same perk. Nobody values perks equally so this kind of thoughtfulness put into the tool is awesome!

Whether credit card is worth the annual fee - Sapphire Reserve
Whether credit card is worth the annual fee – Sapphire Reserve

Not only can you put how you value perks that a credit card may give you, but you also can put how much you value each points currency. For instance, are you someone who uses your Chase Sapphire Reserve points to “purchase” travel at 1.5 cents each or do you consider points worth 2 cents each due to transfer partners? final result final result on a sample scenario

Final Thoughts

This may become a staple in my list of points and miles resources! Especially when trying to convince friends and family to stop using their Southwest card finally. With 66 cards listed this tool also doesn’t just offer a calculator for the standard “heavy hitters” in the points and miles world.

Hopefully Reddit user unisaurus keeps this tool maintained – if he does, I’m hooked!

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