There are some credit cards that will make merchants spread the red carpet for you.
Loaded with incredible benefits and credit card rewards, these premium cards come with an aura of exclusivity and social status that will make your cashier go from “Yes” to “Yes, ma’am / lord.”
However, these high class cards are priced. The annual rate may be astronomical, but for some cardholders, especially travelers, the rewards may exceed the price, for what it’s worth.
But your credit score may also not be enough. These cards often require a solid credit score, so be sure to qualify even before submitting the application and receiving the result of the consultation.
What makes a credit card “premium”?
Then, you may wonder: “How can a credit card be premium?” And the answer is advantages.
A premium credit card will offer you much more or much better benefits than a “normal” card can even think of providing.
These advantages include:
- higher profit rates,
- nice welcome bonuses,
- access to the lounge and other advantages,
- annual credits, and
Higher profit and exchange rates
Some cards will grant you higher profit rates, especially in restaurants and travel.
If you are constantly on the air or staying in a hotel, these cards may be worth the annual fee due to the amount you will receive. Simply check your expenses and see which card rewards best match your expenses, ensuring maximum rewards.
As an additional bonus, your points may be worth more if you book through their associated programs, so be sure to get most of your rewards when it’s time to redeem them.
Nice welcome bonuses and annual rewards
Some of these welcome bonuses are huge and may be worth one or two free flights. Often you only receive them after reaching a spending limit in a certain period of time, but if you know that that is what you will spend anyway … why not?
In addition, some cards even have bonus rewards if you spend a certain amount, adding even more points to your account and free flights in your future.
A premium credit card will often grant you a status, such as the .It will grant you automatic Gold Elite status through Marriott Bonvoy or Gold Status through the Hilton Honors program.
This is something that is gained by staying between 20 and 40 nights, so having it automatically is a great advantage. Assuming that each night costs $ 100, you are seeing a savings of $ 2,000 to $ 4,000 right there.
Related: Our guide to make the most of the Hilton Honors program
the latest Advantage of the airport: access to the lounge. Being able to put your feet up, separated from the hustle and bustle of a busy airport and showered with free drinks and food, could be the deciding factor for some when choosing a credit card.
If you fly frequently from one airport to another, this benefit may even be essential for you. Anyway, you spend a lot of time in the building; You could also do it with style.
You don’t need to worry about insurance when you carry a premium card, as they are often decorated with a good insurance package.
While premium insurance card offer types may be common, it is the amount covering up That really distinguishes these letters from the average plastic.
Before choosing a premium credit card
Here are two things to think about when it comes to getting a premium credit card.
Annual premium credit card rates and APR fees
As we mentioned, these cards have a price.
If you don’t make sure to break down your expenses and the rewards you can earn based on them, you could actually lose money if you opt for a premium credit card.
With annual fees of $ 400 – $ 550, these cards are certainly not for everyone and should only be considered by those who can maximize their rewards.
Your APR rate on these cards will probably be much higher than that of a regular credit card, so be sure to pay your bill each month to avoid accruing interest rates that cause your headache.
Related: When is it worth paying an annual credit card fee?
High-end credit card credit score requirements
Finally, these cards will require a solid credit, so make sure that your score is solid and that you have a good credit history because these issuers will not even consider a low score.
Also, it is not worth the success that your credit score receives when you have a consultation, so trust your instinct if you do not think you will be approved.
Our favorite premium credit cards
We choose 4 of the best credit cards that adorn our list as our favorite premium credit cards.
Sounding in a $ 550 annual fee, the highest on our list, the offers you impressive benefits ranging from unlimited access to 1,200 VIP lounges around the world to Gold Status through Marriott Bonvoy and the Hilton Honors program.
This card is for the best VIP, with a tempting welcome bonus of 60,000 points when you spend $ 5,000 in your first 3 months and get good rates of:
- 1 point for every dollar spent,
- 5 points per dollar spent on hotels and flights booked through amextravel.com, as well as flights booked directly with airlines, and
- Double points in restaurants, spa and resort activities.
If that were not enough, you get access to a premium concierge service, car rental privileges, VIP Uber status, an annual $ 100 airfare credit and 6 types of travel and purchase insurance. And that’s just the tip of the iceberg with this card.
A popular premium card, the It offers you 50,000 bonus points after spending $ 4,000 on qualified purchases in the first 3 months of opening the account. That’s a $ 750 credit for air tickets, hotels, car rentals and cruises when you redeem through Chase Ultimate Rewards.
Annually, you will also receive up to $ 300 in account statement credits as reimbursement for travel purchases on the anniversary of your card.
These rewards do not even include the profit rates of:
- 3 points per dollar spent on travel,
- 3 points for every dollar spent on meals, and
- 1 point for every other dollar spent.
With unlimited access to the Priority Pass lounge at the airport, 50% more points when booking through Chase Ultimate Rewards, and a 1: 1 value when transferring points to major airlines and hotel loyalty programs, the $ 450 annual fee It almost seems worth it.
With the , You will earn 50,000 AAdvantage miles after spending $ 5,000 in the first 3 months and another 10,000 after spending $ 40,000 annually.
In addition to the welcome bonus, the card has obtained rates of:
- 1 mile AAdvantage per dollar spent, and
- 2 AAdvantage miles per dollar spent on American Airlines.
For $ 450 annual quota, this card also offers 11 different types of travel and purchase insurance, unlimited access to the room for you and a guest to more than 50 Admirals Club rooms, dedicated concierge service, preferred boarding and security privileges and check-in to make travel a luxurious experience – every time.
We want to hear from you
Do these premium cards tempt you to earn VIP status?
Or will you keep your “regular” card?