U.S. · credit cards
Credit card rewards net value calculator.
Add up rewards, credits and the welcome bonus, subtract the annual fee and any interest, and find the spend that covers the fee.
A card with a $95 annual fee earning 2% on $12,000 and 3% on $6,000 of yearly spending earns 42,000 points, worth $420 at 1 cent each. Net of the fee that is $325 a year, or $525 in year one with a $200 welcome bonus.
Your numbers
Result
How this is calculated
For each spending category the calculator multiplies yearly spend by the points per dollar and adds the categories together. Points are converted to dollars at the value per point you enter (1 cent for cash back). Net value is rewards plus the credits you would really use, minus the annual fee, minus any interest on a balance you carry (balance × APR). Year one adds the welcome bonus. The spend needed to cover the fee is (fee − credits) ÷ (blended rate × value per point), where the blended rate is total points divided by total spend.
Federal rules require the annual or periodic fee, and fees such as a balance transfer fee, to appear in the table issuers give with every card application (12 CFR 1026.60(b)). Reward rates, bonus terms and credit rules are set in the issuer's own terms, so enter them from your card's terms; this page does not assert a value for points or any issuer's rates.
Worked example
$12,000 at 2 points and $6,000 at 3 points, $95 fee, 1 cent per point. Points: 12,000 × 2 + 6,000 × 3 = 42,000, worth $420. Net of the fee: $325 a year. With a $200 welcome bonus, year one is $525.
The blended rate is 42,000 ÷ 18,000 = 2.33 points per dollar, so the fee is covered at $4,071.43 of yearly spend. Now add a $3,000 balance carried at 24% APR: interest of $720 turns the net value from $325 into $-395.
Limits of this estimate
It is arithmetic on the numbers you enter. It does not know any issuer's categories, caps, point values, transfer partners or credit terms, and it does not value perks you will not use.
Sources
Primary sources opened and checked on October 26, 2026. Figures are as published on that date and are not a prediction of your own terms.
Common mix-ups
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Often assumedEvery credit card gives me an interest-free grace period on purchases, so rewards always come out ahead.
What the source saysThe application table must disclose the grace period for purchases and any conditions on it, and 12 CFR 1026.60(b)(5) says that if no grace period is provided, that fact must be disclosed. Check the terms of your card before assuming purchases are interest-free. [1]
Checked against these sources on .
Frequently asked questions
How do I know if an annual fee card is worth it?
Compare the rewards and credits you would actually use with the fee. If net value is positive on your real spending, the fee pays for itself. Enter your category spend and the fee to see it.
What is a point worth?
It depends on how you redeem it, and this page does not assume a value. Cash back is 1 cent per point; enter a different number if you redeem for something else.
Should I count the welcome bonus?
Only for the first year. The result shows year one with the bonus and later years without it, so you can judge the card both ways.
Why include interest?
Interest on a carried balance usually outweighs rewards. If you carry a balance, a no-fee card with a low rate may beat a rewards card; use the balance and APR fields to see it.
Where do I find the annual fee?
In the rate and fee table in the card application and agreement. Regulation Z requires any annual or other periodic fee to be listed there (12 CFR 1026.60(b)(2)).
Not financial advice
This page is general information, not financial, legal or tax advice. Your loan, card or plan terms control and may differ from the examples. Confirm anything that matters with your lender, bank, insurer or a qualified adviser before you act. Everything runs in your browser; nothing you enter is sent anywhere.