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To get the most out of your premium credit card, consider using it for travel. Not only can it help you earn accelerated points on purchases, but it can offer many perks such as annual travel credit, a dedicated concierge service, complimentary lounge access and more. Just be ready to pay a high annual fee.
When making our selection for the best premium credit cards, we looked at a variety of factors a consumer might consider. Some of these factors included the types of reward programs, cash back or points per dollar spent, travel or bonus statement credits, annual fee, welcome offer value, balance transfer fees and other luxurious perks found in a premium credit card.
The Chase Sapphire Reserve® card got an update on January 12, 2020. Here’s what’s changed:
Annual fee increased from $450 to $550.
10x points on Lyft rides until March 2022.
One year complimentary Lyft Pink membership worth $199.
One year complimentary DashPass membership.
DoorDash statement credits up to $120 until December 21, 2021.
If you're looking for a premium travel credit card with an intro APR period on balance transfers, the Luxury Card Mastercard® Titanium Card™ could be a good choice.
Intro APR period on balance transfers. Enjoy a 0% intro APR period of 15 billing cycles following each balance transfer that posts to your account within the first 45 days. Once the intro period passes, your rate reverts to a variable APR of 14.99%.
Luxury Card Travel. Get a value of up to $500 per stay at over 3,000 properties worldwide. This includes room upgrades, complimentary food and beverage, spa treatments and more.
Mastercard Titanium benefits. You'll enjoy baggage delay insurance, ID theft protection, zero fraud liability protection, price protection and purchase assurance.
Annual fee
$195
Purchase APR
14.99% variable
Balance transfer APR
0% intro for the first 15 billing cycles (then 14.99% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
1x points on all purchases with 2% point value when you redeem for airfare and 1% for cash back
The Luxury Card Mastercard® Black Card™ can be a great choice if you want luxury travel and elite Mastercard benefits like invitation-only experiences.
Reward points. You earn 1 point per dollar spent with this card. This equals 1.5 cents when redeemed for cash and 2 cents when redeemed for airline tickets.
Mastercard Black benefits. You get an annual $200 airline credit for airline tickets, baggage fees, upgrades and more. You also get $100 Global Entry or TSA PreCheck application credit. Enjoy even more comfort with Priority Pass and receive complimentary access to more than 1,000 lounges worldwide.
Mastercard Priceless. Enjoy unique excursions and access to exclusive events.
Annual Fee
$495
Purchase APR
14.99% variable
Balance transfer APR
0% intro for the first 15 billing cycles (then 14.99% variable)
Welcome offer
N/A
Rewards
1x points on all purchases with 2% point value when you redeem for airfare and 1.5% for cash back
The Chase Sapphire Reserve® could be a great premium card if you frequently travel worldwide and dine out at restaurants.
Reward points. Earn 3x points on travel purchases and when you dine at restaurants worldwide, and 10x points on Lyft rides until March 2022. Everything else you buy earns 1x points. Redeem your points through Chase Ultimate Rewards and get 50% higher value for your points.
Signup bonus. Spend $4,000 within 3 months of your account opening and earn 50,000 bonus points. This is worth $750 when redeemed through Chase Ultimate Rewards.
Lounge access. Get complimentary access to more than 1,000 VIP lounges worldwide after a one-time enrollment in Priority Pass.
Annual Fee
$550
Purchase APR
16.99% to 23.99% variable
Balance transfer APR
16.99% to 23.99% variable
Welcome offer
50,000 points after spending $4,000 in the first 3 months
Rewards
10x points on Lyft rides, 3x points on dining and travel after earning your $300 travel credit and 1x points on all other purchases
Best premium credit card for the ultimate luxury travel
If you want to travel in style and luxury, the Luxury Card Mastercard® Gold Card™ could be the right choice.
Luxury Card Travel. Get up to $500 value per stay for room upgrades, complimentary food and beverage, spa credits and more at over 3,000 properties across the world.
Reward points. Earn 1x points on all of your purchases. When redeeming for cash or airfare, each point is worth 2 cents.
Travel credits. Get $200 airline fee credit every year to use for airline tickets, baggage fees, seat upgrades and more. And get up to $100 statement credit for your Global Entry or TSA PreCheck application fee.
Lounge access. Enjoy complimentary lounge access with Priority Pass Select.
Annual Fee
$995
Purchase APR
14.99% variable
Balance transfer APR
0% intro for the first 15 billing cycles (then 14.99% variable)
Welcome offer
N/A
Rewards
1x points on all purchases with 2% point value when you redeem for airfare or cash back
The Citi Prestige® Credit Card could be an excellent choice if you frequently dine out and travel as it offers the most reward points on these categories.
Reward points. Earn 5x points on air travel and restaurants, 3x points on hotels and cruise lines and 1x points on all other purchases. Redeem points for travel, experiences, cash and gift cards or donate to a charity.
Signup bonus. Earn 50,000 reward points once you spend $4,000 in your first 3 months of opening your account. That's worth up to $850 when redeemed for travel with no blackout dates.
Travel credit. Get up to $250 in travel credit every calendar year.
Annual Fee
$495
Purchase APR
16.99% to 23.99% variable
Balance transfer APR
16.99% to 23.99% variable
Welcome offer
50,000 points after spending $4,000 in the first 3 months
Rewards
5x points on flights and dining, 3x points on hotels and cruises and 1x points on all other purchases
The United Clubâ„ Infinite Card offers the best value for your money because you get to enjoy premium perks with a generous signup bonus.
Signup bonus. Earn 100,000 miles after you spend $5,000 in your first 3 months. Depending on which United flights you redeem your miles for, you can get a value of between $1,500 and $3,000, or around three roundtrips between Lost Angeles (LAX) and New York (JFK).
United miles. Earn 4x miles on United purchases, 2x miles on dining at restaurants and travel purchases, and 1x miles on everything else you buy.
United Club membership. Get United Club membership each year worth $650. This perk alone offsets the card's annual fee.
Annual Fee
$525
Purchase APR
16.49% to 23.49% variable
Balance transfer APR
16.49% to 23.49% variable
Welcome offer
100,000 miles after spending $5,000 in the first 3 months
Rewards
4x miles on United purchases, 2x miles on travel and dining and 1x miles on all other purchases
If you want to earn accelerated points on your hotel stays and airline tickets, the The Platinum Card® from American Express could be your best choice.
Membership Rewards points. Earn 5x points on flights purchased directly with an airline or through Amex Travel, and 5x points on prepaid hotels booked through Amex Travel. All other purchases earn 1x points.
Hotel benefits. Get complimentary benefits valued up to $550 with Fine Hotels Resorts and up to a $100 hotel credit when you stay a minimum of two consecutive nights on hotels booked through Amex Travel.
Welcome offer. Earn 60,000 membership reward points once you spend $5,000 in your first three months of card membership. That's up to $1,200 in redemption value.
Lounge access. Enjoy access to more than 1,200 airport lounges worldwide.
Annual Fee
$550
Purchase APR
See Pay Over Time APR
Balance transfer APR
See Pay Over Time APR
Welcome offer
60,000 points after spending $5,000 in your first 3 months
Rewards
5x points on directly-booked flights or on flights and hotels on Amex Travel. 1x points on all other purchases
Better earn rates. Most premium credit cards have high earn rates because they award points based on how frequently you make trips or spend using your credit card.
Promotional offers. Many card providers offer premium credit cards to attract new customers with signup bonus points and additional perks which will increase your total rewards from the get-go.
Various reward options. Points accumulated from premium credit cards can be redeemed in a variety of ways, including airfare, airline class upgrade, goods and services, cash and more.
Added benefits. Premium credit cards with high income requirements are generally platinum or black cards, and this means they come with premium benefits such as complimentary insurance policies, discounts on services, airport lounge passes, dedicated concierge and more.
Cons
High annual fee. Generally, premium credit cards tend to have relatively high annual fees. This means you have to spend more on using the credit card to offset the annual fee with the value of your redeemed points. But using this type of card usually offers additional benefits that can outweigh the cost.
High interest rates. Many premium cards come with a high interest rate compared to regular cards. Make sure you pay your balance on time to avoid the high interest rates.
No intro APR period It’s rare to find a premium credit card that offers intro APR period on purchases and balance transfers. At the time of writing, the Luxury Card Mastercard® Titanium Cardâ„¢ is the only premium card that offers an intro APR period on balance transfers.
Exclusive. As suggested by the name, premium credit cards are only available to high-income earners, restricting the number of cardholders who can take advantage of their benefits.
How to choose top premium credit cards
To choose the best premium credit card, ask yourself:
Do you want to earn accelerated points on hotel stays? The Platinum Card® from American Express gives you the highest value on hotel purchases and airline tickets, worth up to 5% in redemption value.
Do you want to earn accelerated points on dining? With the Chase Sapphire Reserve® you earn up to 4.5% in redemption value on dining and travel purchases worldwide.
Do you want to make balance transfers? Premium credit cards rarely let you transfer your balance interest-free for a limited amount of time, but all three Luxury Mastercard credit cards offer just that.
Do you want the ultimate credit card? With the gold-plated Luxury Card Mastercard® Gold Card™ you get access to invite-only events, chauffeur transportations, yacht or private jet services and more.
Should I get a premium credit card?
If you’re looking for top class perks and benefits, a premium credit card will be up your alley. The main thing to watch for is the annual fee. You should only pick up a premium card if you can use enough of the card’s perks to offset the cost of the annual fee. Otherwise, you’re likely better off with a standard rewards card.
Compare premium credit cards
Want a look at how these luxury cards stack up to one another? Use the table below to compare them side-by-side.
Bottom line
If you’re willing to pay a high annual fee, you can get the best premium cards. These usually come with an annual airline credit, Global Entry or TSA PreCheck credit, accelerated points on travel purchases, complimentary lounge access and more.
However, if you believe there could be a better credit card for you, compare other travel credit cards until you find the perfect match for your needs.
Frequently asked questions
All premium credit cards are made out of metal, mostly stainless steel. Only the Luxury Card Mastercard® Gold Card™ is plated with 24-karat gold.
Yes, The Platinum Card® from American Express is a charge card.
Most premium credit cards have no foreign transaction fees.
Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
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