Start with the fee
Write down the annual fee. Some cards waive it in the first year, so note both the first-year amount and the later amount.
Count only what you'll use
Add up the credits and perks you would use anyway. A $200 travel credit is worth $200 to you only if you would have bought that travel otherwise. If you wouldn't, count less, or nothing.
Be honest about your habits: unused credits are lost when the period ends. See When do credit card statement credits reset?
Add the extra rewards
Estimate your yearly spending in the card's bonus categories and multiply by the rewards rate. Count only the extra you earn compared with the card you would use instead, not the total.
If the rewards are points, turn them into dollars with a realistic value per point: How much is a credit card point worth?
A simple formula
Value = credits you will use + extra rewards compared with your next-best card. If the value is higher than the fee, the card is worth keeping.
Example: a card with a $95 fee gives you $60 of credits you would use and $90 a year in extra rewards. The value is $150 against a $95 fee, about $55 ahead. If you would use only $20 of the credits, the value is $110, still $15 ahead.
When the fee comes due
Check before the fee posts, not after. If the card isn't worth it, you can ask the issuer about switching to a card with no annual fee, or cancel. The options and the timing depend on the issuer, so check the terms.
Rune's My cards screen shows your annual fees in total, and the Reminders tab shows fees coming up, estimated from the month you applied.
See your annual fees in Rune
Based on public sources as of 2026-11. Fees and benefits change; check the card's current terms.