Is a $650 Credit Card Annual Fee Too Much? Here’s Why I Think the Delta Reserve Is Worth It

Despite a number of changes American Express has made to the Delta SkyMiles® Reserve American Express Card — and its $650 annual fee (see rates and fees) — I’m renewing my account for another year.

When I applied for the Delta SkyMiles® Reserve American Express Card a few years ago, it came with unlimited visits to Delta Sky Clubs (when flying with the airline) and a lower annual fee of $550. 

Back then it seemed like a stellar deal since I’m a Delta Medallion elite member and fly frequently with the airline and its SkyTeam partners. Paying for Sky Club membership outright is expensive — currently $695 — so getting this perk through a travel credit card that also offers frequent flyer benefits is great.

Now, on to the bad. Delta made some major changes to this card in the last year that I don’t love. 

Cardmembers now only get 15 visits to Sky Clubs each year unless they spend $75,000 on their cards within a calendar year. The card’s annual fee also increased from $550 to $650 per year, which makes it nearly as expensive as The Platinum Card® from American Express.

On top of that, Delta changed up its loyalty program so that now you only earn elite status by racking up Medallion Qualification Dollars (MQDs) based on spending. Regardless of these unfortunate changes, here’s why I decided to keep the card.

All the Delta Reserve has to offer

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The Delta SkyMiles® Reserve American Express Card earning rates have stayed the same, but I don’t use this card for many everyday purchases. In addition to the generous welcome bonus, cardholders with the Reserve earn 3x miles on Delta purchases and 1x miles on other eligible spending.

Cardholders also get a range of included perks when they fly, including:

• Access to Amex Centurion lounge when flying with Delta and paying with an Amex card
• Upgrade priority, an annual companion certificate 
• Fee credit for Global Entry or TSA PreCheck 
• First checked bag free
• 20% back on in-flight purchases
• Zone 5 priority boarding
• Some travel insurance benefits 

Most Delta cardholders (including the Reserve) also get 15% off award redemptions through the airline’s TakeOff 15 program. 

However, Delta and Amex announced some new benefits with this card that were slated to go into effect in early 2024. These include:

• Medallion Qualification Dollars boost on credit card spending (1 MQD for each $10 in purchases charged to the card)
• MQD Headstart with 2,500 MQDs
• $240 in Resy credits annually ($20 per month)
• Up to $240 in annual credits toward rideshare purchases ($10 per month)
• Enhanced annual companion certificate that now includes destinations in the Caribbean and Central America
• $200 Delta Stays credit annually
• Hertz President’s Circle status
• Four one-time Delta Sky Club guest passes

MQDs are how you progress through Delta’s elite membership tiers. It takes $5,000 MQDs to reach Silver, $10,000 for Gold, $15,000 for Platinum and $28,000 for Diamond. Each rank expands on the perks offered by the previous tier. MQDs reset each calendar year.

Why I think the Delta Reserve is worth it

While I’m not thrilled about paying a $650 annual fee for an airline credit card, I ultimately decided I would get plenty of value in return. This is mainly because I will (and need to) use the Sky Club entries that come with the card. 

I also love the 2,500 MQDs I now get through the MQD Headstart benefit, which is part of the reason I’m on track to earn Delta Medallion Platinum status this year.

Additionally, I found early on that the $200 Delta Stays credit is easy to use. I already used mine for this calendar year since it applied to my card before I even got the chance to renew. The Delta booking portal lets you make reservations at hotels and resorts around the world. I used it for a single hotel stay before a cruise, getting $200 in value back toward the card’s annual fee.

I’m also happy about the enhanced companion certificate. The previous version of this perk only applied to domestic flights. I don’t fly a lot within the US, but being able to use this certificate for trips to the Caribbean ensures I will put it to good use.

Finally, I don’t mind that the MQD boost isn’t quite as valuable as the previous program. It still helps me earn elite status.

How I get the most from my Delta Reserve Card

I visit Delta Sky Clubs at least 10 times per year, and I value each visit at $50 since I typically have a meal and a few drinks each time. And while regular airport food is both expensive and disappointing, I have never had a regrettable meal in a Sky Club. 

This card also comes with four guest passes each year, which are worth $50 to me since I can use them to bring my kids to the lounge (my husband has his own Delta Sky Club membership). When you add up the 14 visits to Delta Sky Clubs I estimate I’ll use, this works out to $700 in value. 

I also plan to make the most of this card with the enhanced annual companion certificate and the Delta Stays credit. 

I will also be adding my card to my rideshare accounts so I can benefit from the $10 in monthly statement credits. I rarely ride with Uber or Lyft though, so I haven’t done that quite yet.

Tips for getting enough value from a high-end travel card

If you’re wondering if you can get enough value from a high-end travel credit card to justify its annual fee, first evaluate its benefits and rewards. 

For example, add up the value of perks you can receive and see what they are worth to you, then compare to the annual fee and decide if it makes sense.

Most people know high-end travel credit cards are geared toward individuals who travel often and can take advantage of the benefits. If you rarely fly, you may not get much value out of perks like airport lounge access, elite status benefits, priority boarding or free checked bags.

But there’s one variable that can make even the most expensive cards worth it in the short-term. Most premium travel credit cards offer large welcome offers that can make the first year of membership worth it no matter what. 

For example, the Delta SkyMiles® Reserve American Express Card offers new customers 70,000 bonus miles after they spend $6,000 in eligible purchases within six months of card membership. Considering Delta SkyMiles are worth approximately 1.2 cents each, according to Bankrate, this bonus is worth $840 when used for airfare.

The bottom line

I wish I didn’t have to pay $650 to have the Delta SkyMiles ® Reserve American Express Card for another year, but I ultimately decided the fee was worth it in the end. 

I never enter Sky Clubs more than 10 or 12 times per year anyway, so the new limits won’t hurt me. Plus, the new cardholder perks make it more valuable to me as a consumer and as an elite member who is always trying to secure Delta Medallion status for another year.

That said, there are other Delta credit cards with much lower annual fees available. Make sure to compare the best cards from Delta to find the right fit, or consider premium travel credit cards with transferable rewards if you want more flexibility.

*All information about the Capital One Venture X Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

For rates and fees of the Delta SkyMiles Reserve American Express Card, click here.