Smart Money: End of Credit Card Rewards, and Luxury Credit Cards

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.

This week’s episode starts with a discussion about the potential end of credit card rewards.

Then we pivot to this week’s money question from Sheryl, who wrote us this email:

“Hello Smart Money folks! I could use some advice. I am trying to decide if I should cancel my AmEx Platinum card. It has a hefty yearly fee, $695, but has a bunch of perks that exceed the yearly fee value, if I use them all; I don’t use them all so my perks probably equal the yearly fee. Since it’s a charge card I pay it in full each month and it has no credit limit. I have three other cards. Two of them I almost never use with no or low annual fees. The 3rd gives me 1% when I buy and 1% when I pay my balance. I use this card for almost everything and so far this year have received about $720 through the cash back rewards. There is no annual fee but the credit limit is rather low, so if I put all monthly…

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This article was written by Sean Pyles and originally published on