At first glance, the $325 annual fee (see rates and fees) charged by the American Express® Gold Card may seem relatively expensive, especially considering that there are many credit cards that don’t charge any annual fee whatsoever. However, this card comes with a suite of statement credits that can offset this annual fee year after year.

The advent of the Capital One Venture X Rewards Credit Card has people reevaluating their wallet space for premium credit cards. The American Express® Gold Card (see rates & fees) with its high earning potential in various categories has been a consistent keeper in many people’s wallets.

It’s easy to get excited about the new kid on the block and throw out the well-worn card in your wallet.

With a wallet full of credit cards, it's best practice to commonly assess your credit card portfolio to ensure that the benefits you receive from the cards outweigh the annual fees that you pay. If not, it's time to close that card or cards in most cases.