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American Airlines hikes annual fees on rewards cards for first time since 2018
CNBC • • business
Key Points:
- American Airlines is increasing the annual fees for its Citi AAdvantage Platinum Select World Elite Mastercard and Citi AAdvantage Business Mastercard to $150, marking the first fee hike since 2018.
- The fee increase reflects a broader trend among airlines and banks raising charges on rewards credit cards, which are a significant revenue source through miles sold to banks.
- New benefits for these cards include triple AAdvantage miles on hotel bookings via American's portal, a $120 credit for Global Entry or TSA PreCheck every four years, and a $100 annual credit for in-flight purchases.
- The fee changes will take effect on January 24, aligning with similar recent increases by competitors such as United Airlines, American Express, and JPMorgan Chase.
