On his podcast, Clark Howard answers real reader questions on money, credit, debt, retirement, travel, and more, along with co-host Christa DiBiase.

Clark's answer: The annual fee on the big premium travel cards can top $795 now. That is where the money comes from! These premium travel credit cards charge steep annual fees and bundle in benefits like airport lounge access to create perceived value. I was actually in a Capital One Lounge in New York recently. The food was fantastic, the service was great, and you just walk out without paying a bill. But the truth is, I did prepay for that meal with a $395 annual fee on my Capital One card! When a card gives you a third-party pass like Priority Pass, the credit card company pays the lounge network a reimbursement fee every time you walk in the door. Other times, like in my case, you are using the credit card company’s own proprietary lounge. Either way, it is definitely not free – you are paying for it through that heavy annual fee.

What these banks really count on is human behavior: most people sign up for premium cards thinking they are going to travel a lot more than they actually do. If you aren't traveling like a maniac, these high-fee cards just don't pay off. You really have to travel constantly to make the math work in your favor.