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I think a lot of it boils down to how much you collect in rewards. Let's make some assumptions and run the math.

Suppose you get 1% cash back (which is probably generous) and you pay $100/yr in fees. That'd mean you'd need to charge $10,000 to break even on the fees. How likely is that in your current spending patterns?

If it were me, I'd ditch the Amex. They're great if you charge a lot or travel a lot, which is why they're popular among business travelers. In my mind, the average consumer can find better deals.

--
Another Jeff in Chicago :-)
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