Anonymous
I’m holding a Citi PremierMiles card. The annual fee is $192.60 for 10,000 miles. Is it worth to pay the annual membership for miles?
I know we can’t travel due to Covid but there’s no harm chalking up miles for future travel plans!
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Elijah Lee
24 Nov 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Hi anon,
This boils down to your value of a mile. If you value a mile at anything more than 1.93cpm (cents per mile), then paying the fee makes sense as you get miles for cheaper than your valuation.
Pesonally, I think the threshold has dropped to 1.8 or 1.9cpm for many people, but I feel that paying 1.926cpm for something I value at 1.9cpm is still not too bad.