It seems a new premium credit card boasting lavish benefits emerges almost daily, if headlines are any indication. These exclusive cards often feature perks like airport lounge access, travel credits, and trip insurance, promising significant value. But what truly defines a premium credit card, and are its advantages genuinely worthwhile?
Here, we take a look at the best premium credit cards, as well as what makes one in the first place. If you are considering upgrading your credit card, this is how to determine if a premium credit card is right for you.
What is a premium credit card?
A premium credit card is a high-tier financial product offering exclusive benefits such as elevated rewards points, travel advantages, and preferential treatment at hotels and airlines. These enhanced perks, which can include airport lounge access, travel credits, priority boarding, and complimentary hotel stays, typically come with a significant annual fee, often exceeding $100. While this fee is higher than standard credit cards, the value derived from the rewards and benefits can outweigh the cost for frequent travelers or those who can fully utilize the offered advantages.
Perks of premium credit cards
Premium credit cards are known for their special perks, allowing you to earn exclusive bonuses on the purchases you already make. Some popular benefits include:
Annual credits
Many credit cards like the card_name and the card_name give you rewards simply for using your credit card to make eligible purchases. These come in the form of annual credits and can be used for a variety of purposes. For example, card_name cardholders can earn a $300 Annual Travel Credit as reimbursement for travel purchases charged to the card each account anniversary year.
Lounge access
With their Priority Pass Select membership perk, credit cards like card_name and card_name give you exclusive airport lounge access so you can grab a drink and a comfortable seat while you wait for your flight. With this benefit, it does not matter so much if you are early for your flight or you experience a delay. Just be sure to review program restrictions affecting the number of lounges you can access and guests you can bring, as well as the overall amenities available with each lounge. American Express is a CardRatings advertiser.
➤ SEE MORE:Best airport lounge access credit cards
Elite status
When you use your credit card for certain purchases, it can make travel simple – and, dare we say, enjoyable. Certain high-end credit cards like the card_name and card_name offer elite perks such as priority boarding, free checked bags and discounted in-flight snacks and beverages. The rewards continue once you are back on solid ground; hotel and rental car perks abound with the best premium credit cards. Citi is a CardRatings advertiser.
➤ SEE MORE:Which credit cards offer elite status?
Trip benefits
In addition to travel perks, you could receive extra trip benefits like travel insurance and trip interruption coverage. Premium credit cards like the card_name and card_name may offer you refunds or credits should you have to cancel your trip last minute. There may also be additional benefits like coverage for lost or delayed baggage.
Global Entry and TSA PreCheck
Frequent travelers are also likely to appreciate Global Entry and TSA PreCheck reimbursements through premium credit cards like the card_name and the card_name. Global Entry and TSA PreCheck are designed to expedite U.S. customs and the airport security process. When you are in a hurry or simply value efficiency, you will be happy you won’t have to take off your shoes, getting you through security that much faster.
How to choose a premium credit card
There are a few things to consider when choosing a premium credit card:
- Brand loyalty: Many premium credit cards offer perks that are specific to a certain brand, such as Marriott or Delta. If you tend to use a certain airline or hotel, check what premium credit cards may work for those options.
- Qualification: Consider what credit score you need for each credit card. Most premium credit cards require good credit or excellent credit to qualify.
- Annual fees: Premium credit cards often cost well over $100 in annual fees each year. If you prefer a card without the extra fee, consider a no-annual-fee credit card. Either way, always make sure you fully understand the credit card fees for your chosen card so there are no surprises later.
Be sure to shop around and compare options before settling on the best premium credit card for your needs.
➤ SEE MORE:Best credit cards for the annual fee
Best premium credit cards
While many excellent premium cards exist, these consistently rank among the best.
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To see additional options, check out CardRatings’ editors top picks for the best premium credit cards.
Bottom line
Premium credit cards can be a lucrative tool for the road warrior who appreciates luxury perks and money-saving discounts. From airline perks to rental car coverage, a premium credit card could save you a ton of money each year – once you pay the steep membership fee.
Before you apply for a premium card, carefully compare your options. Consider whether the airport lounge access is worth it. What about trip insurance and TSA PreCheck? These considerations can help you find the right card for you so you can save money and step up your travel game at the same time.
To see the rates and fees for the American Express cards featured in this post, please visit the following links: card_name (See Rates and Fees); card_name (See Rates and Fees); card_name (See Rates and Fees); card_name (See Rates and Fees); card_name (See Rates and Fees)
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
