This doesn't seem like a flex situation, as the Gold and Platinum aren't difficult to get and are extremely common. The gold in particular earns a large bonus o

This doesn't seem like a flex situation, as the Gold and Platinum aren't difficult to get and are extremely common. The gold in particular earns a large bonus on restaurant spending so I always pay with that, and it never crossed my mind that anyone would be impressed. As for why, for me and a lot of people, it is the points/cash back. Since European fees are capped, there isn't much opportunity for credit cards to bribe customers with perks. I make about 4% back on my credit card spending and pay off my balance every month, so no interest payments. I imagine people living in NYC are probably making 6 figure incomes, so the amount of points/cashback would be a lot more than the annual fees. Then of course you also get lounge/hotel/ etc. benefits.