Is the Delta SkyMiles Reserve Business American Express Card Worth the $650 Annual Fee?
On rewards alone, the Delta SkyMiles Reserve Business American Express Card never out-earns the no-fee Costco Anywhere Visa® Business Card by Citi — its $650 fee has to be justified by credits and perks, not the earn rates.
Rates verified 2026-05-12.
Method: we compare what the Delta SkyMiles Reserve Business American Express Card earns against the best no-annual-fee card in the same category — the Costco Anywhere Visa® Business Card by Citi — because the alternative to paying a fee is not earning nothing, it is a good free card. Full methodology.
Three spending levels
| Profile | Delta SkyMiles Reserve Business American Express Card | Costco Anywhere Visa® Business Card by Citi | After the $650 fee |
|---|---|---|---|
| Light spender ($1,200/mo) | $144/yr | $230/yr | −$736 behind |
| Typical spender ($2,400/mo) | $288/yr | $460/yr | −$822 behind |
| Heavy spender ($4,500/mo) | $540/yr | $864/yr | −$974 behind |
The breakeven curve
| Monthly spend | Margin vs. Costco Anywhere Visa® Business Card by Citi (after fee) | Verdict |
|---|---|---|
| $500 | −$686 | keep the free card |
| $1,000 | −$721 | keep the free card |
| $1,500 | −$757 | keep the free card |
| $2,400 | −$822 | keep the free card |
| $3,500 | −$900 | keep the free card |
| $5,000 | −$1,008 | keep the free card |
| $7,500 | −$1,186 | keep the free card |
Caveats that can move this math: 3X Delta. Statement credits and perks are not counted unless you would have spent that money anyway.