Annual fees on credit cards increasing, when is it worth paying?

INDIANAPOLIS Annual fees on certain credit cards are climbing higher, with some approaching the $1,000 mark.

According to NerdWallet, premium cards such as the American Express Platinum and Chase Sapphire Reserve are two of the biggest increases. American Express recently announced it will raise its Platinum Card annual fee from $695 to $895.

Sara Rathner, a credit card expert with NerdWallat, says credit increases happen because rewards programs are expensive and a major way these companies generate revenue.

Credit card issuers are constantly refreshing their products to keep new and existing cardholders, and so they are making changes to different perks all the time, Rathner said.

So, when does it make sense to pay an annual fee?

Most premium cards are geared toward frequent travele