Membership Fees and Discount Privileges

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With the economic boom of the 80’s and 90’s, many membership cards cut their cost of membership to zero. You could get a credit card without an annual fee pretty easily. You could even obtain a free payday loan without much fuss. You could get a shopper’s card for free, too. Even though warehouse clubs continued to charged a membership fee, they were minimal. No one would have considered paying an upfront membership fee a good deal. Times have changed, and with it comes the reappearance of the annual membership fee. Along with it, though, is the possibility of obtaining higher value from your membership cards than you would without the fee attached.

Credit Card Annual Fees

In 2010, expect new offers for credit cards to come with annual fees ranging from $85 to $100 or more. You are not only going to pay higher interest charges, but now you have to pay for the privilege of getting a card too. So what are these cards going to offer you in return for this? Some will come discounts on retailers, food establishments, and even offers of free miles. Depending on your lifestyle, it might be a good deal to get one of these cards, just for the membership privileges. If you can get a free air ticket in free frequent flier miles to anywhere in the continental United States, for an $87 annual fee on a credit card, is it worth it to you? Only you know the answer, based on how you live and what your needs are within your current lifestyle.

Shopping Cards With Fees

Examples of these types of cards are wholesale clubs and community cards. For paying an annual fee of $45 to $100 (depending on the membership level and program), shoppers get discounts of up to 30% for bulk purchases of regular household items and groceries. Some wholesale clubs also offer discounts on gas, pumped from their stations. If you are a big spender, you might opt for a card with a cash rewards program to rebate you 2% or more your purchases up to $500 a year, however, the cost of obtaining that card is nearly double than a simple membership.

A less expensive option for a shopping card that can also include local restaurants and businesses in their discount membership is the community card. These are sometimes offered by universities, businesses, or different community groups. They can range from $25 to $50 and offer discounts and coupons at local area shops. They will also offer discounts on online purchases that can be used to buy essentials like pet foods and prescriptions online. If most of your shopping is done locally, try to find these types of cards to help your reduce your daily expenditures for a little upfront fee.