Mid-Year Card Check: What's Still Worth Keeping

You don't have to wait until January to run a card audit. June is actually a good time — you have six months of data, you can see how your spending patterns have changed from last year, and if you decide to switch cards, you'll hit a welcome bonus spend requirement before the holiday season.

What I'm Looking At This Month

My current stack: Amex Gold, Chase Sapphire Preferred, Chase Freedom Unlimited. All three are still earning their keep, but I'm running the numbers anyway because my dining spend has shifted — we've been cooking at home more, which means the Gold's dining multiplier is doing less work and the grocery multiplier is doing more.

The Grocery Situation

My grocery spend is running $440/month this year, up from $380 last year. At 4x on the Amex Gold, that's 1,760 points per month on groceries alone. At 1.5 cents per point: $26.40/month or $316.80/year from groceries. The Amex Gold continues to be correct for my situation.

The Travel Situation

I've traveled less this year. The Sapphire Preferred's 2x on travel is earning less because there's been less travel to earn on. The question: is the $95 fee still justified?

I redeemed 45,000 Chase points in March for flights worth $562 (at 1.25 cents/point through the portal). That alone is worth more than the annual fee. The card stays.

How to Run Your Mid-Year Check

1. Pull your January-June spending by category.
2. Calculate what each card earned in those categories.
3. Note if any categories have shifted significantly.
4. For any card with an annual fee: calculate whether the points earned exceed the fee.
5. If a card isn't earning its fee, decide: can you shift spending to use it better, or should you downgrade/cancel?

The mid-year check also catches cards with annual fees coming up for renewal. You have 30 days after the fee posts to cancel and receive a refund. That window matters.

What to Do If a Card Isn't Earning Its Fee

Call and ask for a retention offer. Issuers often provide statement credits or bonus points to prevent cancellation. It takes 10 minutes and sometimes adds $100 in value to a card you were about to cancel.

If no offer comes and the math doesn't work: downgrade to the no-fee version if one exists, or cancel. Don't keep paying fees for cards that aren't performing in your specific spending mix.

The right card lineup changes as your life changes. Run the check. Adjust if needed. The numbers will tell you what to do.