Claim a status symbol while earning rewards and enjoying premium perks.
Flash a luxury card and it can draw the attention of a room. Besides the status, luxury cards can offer first-class travel perks for regular jet setters along with top-of-the-line reward opportunities.
What are luxury credit cards?
Luxury credit cards offer perks above and beyond standard credit cards at the cost of high annual fees and demanding membership requirements. Benefits range from access to exclusive airport lounges and travel rebates, to rewards rates that outpace standard cards.
Compare two luxury credit cards
The Platinum Card® from American Express
The Platinum Card® from American Express
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Chase Sapphire Reserve®
Chase Sapphire Reserve®
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Compare luxury credit cards
Are luxury credit cards worth the cost?
Whether a luxury credit card is worth its yearly price tag depends on how you want to use it. The high costs associated with owning a luxury card can be a tough pill to swallow, especially since annual fees can be hundreds or even thousands of dollars. These fees can be made up in some cases, but only by taking full advantage of its premium perks.
Typical luxury credit card features
Many luxury credit cards share standard features, often with leveled-up benefits:
- Signup bonus. Many luxury cards offer especially large signup bonuses, a perk often tied to the price of a card’s annual fee.
- Rewards structures. Eligible purchases with a luxury credit card can earn as high as 5x reward points.
- Annual credits. Luxury cards are leaders in the field when it comes to annual credits, often offering hundreds of dollars in credit each year for travel and other expenses.
- Travel benefits. Unlimited complimentary access to airport lounges, car rental insurance and roadside assistance are all standard perks with luxury cards.
- Time-saving features. Concierge services and global luggage delivery services are just a couple of the time-saving benefits some luxury cards carry.
How to make a luxury credit card pay off
Like any credit card, you need to make sure the terms behind the rewards of a luxury credit card are a good fit for your lifestyle and personal needs before you apply. In fact, it’s even more important for luxury credit cards when you account for the annual fee.
One of the easiest ways you can make your luxury credit card worth it is to make sure you use your annual credits. An example of this is the The Platinum Card® from American Express, which offers $200 in airline fee credit and $200 in Uber credit each year. This nearly offsets the entirety of the card’s $550 annual fee.
Save time with travel benefits like concierge service, car rentals or insurance for additional savings.
A brief luxury credit card comparison
| Credit Card | Annual Fee | What you need to spend to pay for the card |
|---|---|---|
| The Platinum Card® from American Express | $550 |
|
| Chase Sapphire Reserve® | $450 |
|
| Luxury Card Mastercard® Gold Card™ | $995 |
|
How do I get a luxury credit card?
Applying for a luxury credit card is the same as applying for any other type of credit card, though with stricter requirements. You can submit your application online or over the phone. It may also take longer to be approved for a luxury credit card, since most approval processes aren’t automated.
Do I qualify for a luxury card?
Most luxury cards require you have a history of excellent credit for consideration.
Exceptions to the rule
Some cards take luxury to the next level. Invite-only credit cards not only sport great luxury benefits, but enormous credit limits. Examples include the Centurion® Card from American Express and the JP Morgan Reserve Card.
Bottom line
With great credit and confidence in your spending habits, the right luxury credit card can offer you benefits that far outpace the hefty annual fee. Take a more in-depth look at these luxury cards to find the one that’s perfect for you.
For less expensive cards, you can check out more cards with travel benefits.
