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The sneaky luxury tax hiding in your wallet

Business Insider Fews App News Provider
Fews App Post Time ha 10h

Getty Images; Alyssa Powell/BIThe prospect of paying almost a thousand dollars just to have a certain credit card in your wallet is, when you really think about it, ridiculous. Imagine trying to explain to your 10-years-ago self that someday you'll cough up a big chunk of a paycheck so you can eat mediocre food in an airport lounge — assuming you can even get in. And yet many Americans are doing exactly that, because credit card companies have become remarkably good at making annual fees feel less like a cost and more like an investment.

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