Premium credits cards are raising their annual fees

INDIANAPOLIS — While many credit cards are free, some charge a hefty price for perks.

Ted Rossman with Bankrate said premium credit cards have become a bit of a high-end coupon book.

Take the Chase Sapphire Reserve card, which debuted a decade ago at $450 a year.

"Sounds like a lot, but it came with all these travel benefits like lounge access and other things," he said. "There were a lot of credits to offset the fee. This card basically paid for itself pretty quickly."

That card now has a $795 annual fee.

A representative from Chase said, in part, "the Sapphire Reserve card is designed to meet the specific needs of affluent customers who deeply value travel, dining and experiences. With that, Chase also offers a wide variety of credit cards – from travel rewards to cash back, and co-