Amex Just Raised My Annual Fee By $100 -- Here's Why I'm Keeping the Card Anyway

Last month, the annual fees of most Delta co-branded American Express cards increased significantly. This includes personal credit cards as well as those designed for businesses. However, Amex made some major changes to each card's benefits at the same time, and for many people, paying the additional fee could be well worth the cost. And I think I'm one of them.

Delta Amex annual fees have increased

As mentioned, it will cost more to keep a Delta American Express card in your wallet. Here's a quick overview of how the annual fees have increased.

Benefits have expanded as well

Of course, paying a higher annual fee is a major drawback of holding a Delta Amex card, but it's important to consider any additional perks or features that accompany the change. In this case, all six of the Delta Amex cards in the table above have significantly enhanced benefits.

I won't go through all of the changes, although I've linked our reviews of each card (where available) in the chart, so check those out for a full rundown of the current benefits of each. But just to name some of the major changes:

• The Delta SkyMiles® Gold American Express Card now has up to $200 in free Delta airfare after spending $10,000 in a calendar year, as well as up to $100 in statement credits towards certain hotel bookings. (terms apply)
• The Delta SkyMiles® Platinum American Express Card gets annual statement credits on Resy dining, ride-hailing purchases, and certain prepaid hotel stays that could justify the $350 annual fee. (terms apply)
• The Delta SkyMiles® Reserve American Express Card gets several new statement credits, a generous elite status boosting feature, and elite status with Hertz. (terms apply)
• The business versions of the Delta Amex cards have similar enhancements and also have new bonus spending categories that depend on the level of the card. (Terms apply.)

I'm keeping my Delta Amex card

I have the Delta SkyMiles® Platinum Business American Express Card, which has been my go-to card for business-related spending for several years. And admittedly, I considered canceling the card when the changes were announced. After all, many of the benefits of the card (such as free checked bags on Delta flights), I already receive from my airline status.

However, some of the new features have made me think twice. Specifically:

• I often use Resy to make dinner reservations, and I'll get a $10 monthly statement credit towards dining at Resy-member restaurants. (Amex owns Resy, if you didn't know).
• I use ride-hailing services like Uber and Lyft enough to take full advantage of the $10 statement credits each month.
• My card gets a $200 annual statement credit toward prepaid hotel bookings through Delta Stays. I travel often, so I imagine I'll use that.
• I'm a Silver Medallion (the lowest elite tier) with Delta, and the card now earns credit towards elite status at the rate of $1 MQD (Medallion Qualifying Dollar) for every $20 in spending.
• The annual companion certificate, which is the main reason I've kept the card year after year, is getting better. It was previously only usable in the continental U.S., but can now be used as a buy-one-get-one round trip flight to Alaska, Hawaii, Mexico, the Caribbean, and Central America.
• Terms apply.

The bottom line

To put it mildly, all of these changes more than make up for the $100 increase to my annual fee. I'll just need to make sure I take full advantage -- with the monthly statement credits in particular, it's easy to forget about them here and there.

But the bottom line is that an annual fee is only cheap or expensive relative to the value of the benefits you get. There are cards with $99 annual fees that I would consider expensive, and cards with $695 annual fees, like The Platinum Card® from American Express (see rates and fees), that can be worth every penny. It all depends on how much value the card provides you.