Please ensure Javascript is enabled for purposes of website accessibility

I am a big fan of the Ameriprise Platinum Card from American Express. It has all of the American Express Platinum benefits that other varieties of the cards do, but comes with no annual fee the first year. Now while I have become more willing to apply for (and keep) cards with large annual fees (SEE ALSO: Am I really going to pay a $450 annual fee?the name of the game is still AVOIDING paying cash for things, so paying hundreds of dollars in annual fees is something I try to avoid

(SEE ALSO: The 4 cards I will pay the annual fee on)

(SEE ALSO: Mind if I skip the annual fee?)

It is true that the Ameriprise Platinum doesn’t (usually) come with any welcome offer, but it also has a waived annual fee the first year. So that fact means that it’s a bit of a loophole to the American Express rules that say you can only get one signup bonus per card per lifetime. If there’s no welcome offer, then there’s no way to be EXCLUDED from getting that (non-existent) welcome offer. That was the reason that I applied for an American Express card a 2nd time

a silver credit card with a picture of a man in a helmet

Renewal time

Fast forward a year, and now (as expected) I am being assessed the annual fees

a white rectangular object with a black stripe

You’ll remember that the annual fees on the Platinum card were recently raised from $450 to $550, with an additional Uber credit added. Authorized user fees are $175 on the Platinum card, but those are waived for your first 3 authorized users on the Ameriprise version of the card for the first year.  So I added 3 authorized user cards which is the only way that I can get my whole family into the Centurion lounges

What to do next

While I’m a bit more accepting of paying annual fees than I once was, I can’t justify paying over $1000, so tragically, I will end up canceling this card. I may sign up for it again in a year or so – I’ll have to think about that. Or my wife may sign up for it (she has had it before a few years ago), though we are still figuring out where she (or I) want to be with regard to 5/24 status.

Readers – what would you do? Pay the annual fees, cancel, or sign up again later? Leave your thoughts in the comments

Points With a Crew has partnered with CardRatings for our coverage of credit card products. Points With a Crew and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Some or all of the card offers that appear on the website are from advertisers and that compensation may impact on how and where card products appear on the site. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners and I do not include all card companies, or all available card offers. Terms apply to American Express benefits and offers and other offers and benefits listed on this page. Other links on this page may also pay me a commission - as always, thanks for your support if you use them

User Generated Content Disclosure: Points With a Crew encourages constructive discussions, comments, and questions. Responses are not provided by or commissioned by any bank advertisers. These responses have not been reviewed, approved, or endorsed by the bank advertiser. It is not the responsibility of the bank advertiser to respond to comments.