Best Premium Credit Cards for September 2025
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Written by
Joseph Hostetler
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Edited by
Emily Gadd
A defining characteristic of a premium credit card is its high annual fee. Expect to pay between $350 and $795 in membership for credit cards of this caliber. Typically a higher the annual fee means more premium rewards and benefits.
So what is a premium credit card? It’s a tool that can be used to turn the purchases you would make any way into very lucrative rewards. It can also raise the quality of your travel.
Below are the best premium credit cards on the market. We’ll help you decide which is best for your financial objectives.
Quick Overview: Best Premium Credit Cards
| Our Choice For | Credit Range | Annual Fee | Highlights | |
|---|---|---|---|---|
| Premium Travel Rewards & Perks |
Excellent
720 – 850*
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$395 |
Very generous bonus and statement credit opportunities plus premium perks.
Apply Now
More Details
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Premium Perks |
Excellent
720 – 850*
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$795 |
Luxury travel card with airport lounge access & a bonus worth up to $2,500 in Travel Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening. Your points are worth up to 100% more when you redeem them through Chase Travel, making this bonus worth up to $2,500.
Full Review
More Details
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Elevated Rewards |
Good – Excellent
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$325 |
Access to incredible statement credit opportunities
Apply Now
More Details
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| Elevated Rewards and Premium Travel Perks |
Excellent/Good
670 – 850*
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$595 |
Earn 80,000 points and premium benefits For a limited time, earn 80,000 bonus Points after spending $4,000 in the first 3 months of account opening
Apply Now
More Details
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Premium Perks & Benefits |
Good – Excellent
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$695 |
Massive welcome offer opportunity plus several annual statement credits, lounge access and other premium benefits You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Apply Now
More Details
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Travel & Dining Purchases |
Excellent/Good
670-850*
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$550 |
75,000 bonus points plus travel perks75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening
Full Review
More Details
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Extremely High Spend |
Excellent
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$5,000 |
Complimentary elite status at several popular brands
Full Review
More Details
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Detailed Overview: Best Premium Credit Cards
Top Feature
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
Purchase & Balance Transfer APR
19.99% – 29.24% (Variable)
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn unlimited 2X miles on all other purchases.
Card Details From Issuer
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
Top Feature
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Purchase & Balance Transfer APR
20.24% – 28.74% Variable
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Card Details From Issuer
- Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get more than $2,700 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $250 annually
- Member FDIC
Top Feature
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Purchase APR
See Pay Over Time APR
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Card Details From Issuer
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin’ Credit: With the $84 Dunkin’ Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Welcome Bonus
For a limited time, earn 80,000 bonus Points after spending $4,000 in the first 3 months of account opening
Purchase & Balance Transfer APR
21.24% – 29.24% (Variable)
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Card Details From Issuer
- For a limited time, earn 80,000 bonus Points after spending $4,000 in the first 3 months of account opening.
- Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com and 6 Points per $1 spent on Air Travel booked on cititravel.com
- Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time
- Earn 1.5 Points per $1 spent on All Other Purchases
- Up to $300 Annual Hotel Benefit: Each calendar year, enjoy up to $300 off a hotel stay of two nights or more when booked through cititravel.com.
- No Foreign Transaction Fees
Top Feature
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Purchase & Balance Transfer APR
See Pay Over Time APR
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
5 points per dollar on prepaid hotels booked with American Express Travel®.
1 point per dollar on all other purchases.
Terms apply.
Card Details From Issuer
- You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
- A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.
- Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
- Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world’s most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
- $695 annual fee.
- Terms Apply.
Welcome Bonus
75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening
Purchase & Balance Transfer APR
20.24% – 28.24% Variable APR on purchases and balance transfers
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn unlimited 1.5 points for every $1 spent on all other purchases
Card Details From Issuer
- 75,000 bonus points after you make at least $5,000 in purchases in the first 90 days of account opening
- Earn unlimited 2 points for every $1 spent on travel and dining purchases
- Earn unlimited 1.5 points for every $1 spent on all other purchases
- Bank of America Preferred Rewards® members earn 25%-75% more points on every purchase. That means you could earn up to 2.5 to 3.5 points on travel and dining purchases and 1.87 to 2.62 points on all other purchases, for every $1 you spend.
- No limit to the points you can earn and points don’t expire as long as the account remains open
**All information about the Centurion® Card from American Express** has been collected independently by CardCritics™
Top Feature
Complimentary Delta Platinum Medallion status and access to the Global Lounge Collection
Purchase & Balance Transfer APR
See Terms
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Card Details From Issuer
- Complimentary elevation to elite status levels at several of the world’s largest travel brands, including IHG Platinum Elite, Hilton Honors Diamond, Melia Rewards Gold and Marriott Bonvoy Gold.
- Earn 1 Membership Rewards point on all eligible purchases
- Exclusive retail benefits, including up to $250 per quarter in Saks Fifth Avenue credits.
- Complimentary Delta SkyMiles Platinum Medallion status, which includes priority waitlisting, enhanced mileage earnings, priority check-in and boarding, courtesy upgrades and more
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world, including guest access at Centurion Lounges
- Invitation to the Hertz Platinum status and Avis President’s Club
Quick Comparison: Best Mid-Tier Premium Credit Cards
| Our Choice For | Credit Range | Annual Fee | Highlights | |
|---|---|---|---|---|
| Premium Points |
Excellent/Good
670 – 850*
|
$95 |
Earn up to 10x points per dollar plus a bonus worth 60,000 bonus ThankYou® PointsEarn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
Apply Now
More Details
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| Elevated Travel Rewards |
Excellent, Good
670 – 850*
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$95 |
Earn a welcome bonus worth $750 and 2x – 5x rewards Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel.
Earn unlimited 2X miles on every purchase, every day.
Apply Now
More Details
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Premium Perks |
Excellent/Good
670 – 850*
|
$95 |
Unlimited 1.5 points per $1 on all purchases, 2 points per $1 on dining and travel, 60,000 bonus points opportunity worth $600 Receive 60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening
Apply Now
More Details
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| Travel |
Good – Excellent
670 – 850*
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$95 |
Incredible rewards redemption value and a welcome bonus worth up to $1,312 in Travel Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Your points are worth up to 75% more when you redeem them through Chase Travel, making this bonus worth up to $1,312.50.
Apply Now
More Details
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|
Cash Back on Groceries |
Good – Excellent
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$0 intro annual fee for the first year, then $95. |
Earn a welcome offer and 1% – 6% cash back Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
Earn 6% cash back on select U.S. streaming subscriptions. Earn 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). Earn 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
Apply Now
More Details
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Detailed Comparison: Best Mid-Tier Premium Credit Cards
Top Feature
Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
Purchase & Balance Transfer APR
20.24% – 28.24% (Variable)
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Card Details From Issuer
- Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
- Earn 10 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com.
- Earn 3 Points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations.
- Earn 1 Point per $1 spent on all other purchases
- $100 Annual Hotel Benefit: Once per calendar year, enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com. Benefit applied instantly at time of booking.
- No expiration and no limit to the amount of points you can earn with this card
- No Foreign Transaction Fees on purchases
Top Feature
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
Purchase & Balance Transfer APR
19.99% – 29.24% (Variable)
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn unlimited 2X miles on every purchase, every day.
Card Details From Issuer
- Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
Welcome Bonus
Receive 60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening
Purchase & Balance Transfer APR
20.24% – 28.24% Variable APR on purchases and balance transfers
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn unlimited 1.5 points for every $1 spent on all other purchases.
If you’re a Bank of America Preferred Rewards® member, you can earn 25% – 75% more points on every purchase.
Card Details From Issuer
- Low $95 annual fee.
- Receive 60,000 online bonus points – a $600 value – after you make at least $4,000 in purchases in the first 90 days of account opening.
- Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases. No limit to the points you can earn and your points don’t expire as long as your account remains open.
- If you’re a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87 – 2.62 points on all other purchases, for every $1 you spend.
- Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center.
- Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years.
- Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays and lost luggage.
- No foreign transaction fees.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Top Feature
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Purchase & Balance Transfer APR
19.99% – 28.24% Variable
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Card Details From Issuer
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
- 10% anniversary points boost – each account anniversary you’ll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
Top Feature
Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
Purchase & Balance Transfer APR
0% intro APR on purchases and on balance transfers for 12 months from the date of account opening, then 20.24%-29.24% Variable APR
CardCritics™ Opinion
Recommended Credit Score
Annual Fee
Rewards
Earn 6% cash back on select U.S. streaming subscriptions.
Earn 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
Earn 1% cash back on other purchases.
Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
Card Details From Issuer
- Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Low Intro APR: 0% intro APR on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 20.24% – 29.24%.
- Plan It®: Buy now, pay later with Plan It. Split purchases of $100 or more into equal monthly installments with a fixed fee so you don’t have the pressure of paying all at once. Simply select the purchase in your online account or the American Express® App to see your plan options. Plus, you’ll still earn rewards on purchases the way you usually do.
- Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in eligible purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at eligible U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) purchases and 1% cash back on other purchases. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
- Get up to a $10 monthly statement credit after using your enrolled Blue Cash Preferred® Card for a subscription purchase, including a bundle subscription purchase, at disneyplus.com, Hulu.com, or Plus.espn.com U.S. websites. Subject to auto-renewal.
- Apply with confidence. Know if you’re approved for a Card with no impact to your credit score. If you’re approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
What Makes an Annual Fee Worth Paying?
Is paying several hundred dollars in fees worth it?
It can be. Credit cards with a high price point (almost) always offer incredible ongoing benefits that can easily outweigh the cost. The question as to what makes an annual fee worth paying is simple: Will you get more value from the card than you’re spending to keep it? If the answer is yes, the annual fee is worth paying.
How To Know If an Annual Fee Is Right For You
Let’s look at a quick example: The Delta SkyMiles® Reserve American Express Card charges a steep $650 annual fee (see rates and fees), but the card comes with perks like (enrollment required):
- Up to $240 in Resy Credit to offset your bill at participating restaurants
- Up to $120 in Rideshare Credit to be used with Uber, Lyft and other services
- An annual single-use Companion Certificate that allows you to bring a travel buddy with you on eligible routes for just the cost of taxes and fees.
- Delta Sky Club airport lounge access with an eligible same-day Delta boarding pass (effectively worth hundreds of dollars per month)
- First checked baggage is free for you and up to eight travelers on your reservation when flying domestic on Delta
As you can see, these perks can help justify the card’s annual fee. For even an occasional Delta flyer, the Delta SkyMiles® Reserve American Express Card can save serious money. However, if you never fly Delta, you won’t use most of these perks — and paying the annual fee won’t be right for you.
How To Choose a Premium Travel Card
Just because you can negate an annual fee by utilizing a card’s valuable perks doesn’t always mean it’s a good choice for you.
If you’re spending money you wouldn’t normally spend just to take advantage of a card’s statement credits — or if you’re changing your travel plans to squeeze a few more dollars from some airline or hotel freebies, the card probably isn’t a fit for your situation.
A premium credit card is right for you if it complements your lifestyle and saves you money organically. Identify your financial goals and choose a credit card that facilitates that goal.
What Benefits To Look For in a Premium Card
Useful Statement Credits
Premium credit cards almost always offer multiple statement credits. These can go a long way to offset your card’s annual fee. You’ll find credits that reimburse you for:
- Hotel stays
- Streaming services
- Air travel
Travel Insurance
If you travel frequently, travel insurance should be one of your top considerations when choosing a premium credit card. The best cards offer:
- Primary rental car insurance
- Baggage and trip delay insurance that kicks in after just six hours of delay (or when an overnight stay is required)
This can save you hundreds — even thousands — of dollars if disaster strikes during your trip.
Day-of-Travel Benefits
It’s not uncommon for premium travel credit cards to come with perks that either discount or enhance your travels — or both. For example, premium airline credit cards tend to offer:
- Airport lounge access
- Preferred boarding
- Free checked bag
- Expedited airport security
Free Memberships
A premium credit card may offer complimentary subscriptions, sometimes in the form of monthly statement credits. It may also come with hotel and rental car elite status.
How to Get the Most Out of Your Premium Credit Card
There are a few simple tactics to make sure you milk your premium credit card for maximum value.
- Read your benefits guide. Premium cards are jammed full of ancillary benefits that can be easy to miss.
- Enroll in everything. From statement credits to elite statuses, many premium credit cards demand that you manually enroll in a benefit before it becomes active. You could lose out on hundreds of dollars by forgetting this crucial step.
- Note spending incentives. Your credit card may give you a chance to earn bonus rewards and travel benefits by spending a specific amount of money in a specific amount of time.
- Try to avoid redundant benefits. If you’ve got more than one premium credit card, you may find the same benefits across multiple cards (airport lounge access, travel insurance, TSA PreCheck statement credits, etc.). Having these perks across multiple cards provides little to no added value.
Who Can Get a Premium Credit Card?
Premium credit cards stipulate that you must have at least a “good” credit score (670 or above, per FICO) to qualify. Some require a higher score. Generally speaking, though, if you’ve got a credit score of 700 or above and have not applied for a credit card recently, you shouldn’t have difficulty opening any publicly available card.
The information related to the Chase Sapphire Reserve®, Bank of America® Premium Rewards® Elite Credit Card, and the Centurion® Card from American Express** was collected by CardCritics™ and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardCritics™ does not receive a commission for this product.
Frequently Asked Questions
What is the most prestigious credit card to have?
The most prestigious publicly available credit card to have is The Platinum Card® from American Express. Its potential value is immense, it’s made of gleaming stainless steel, and its annual fee is large enough to make it inaccessible to many.
Which credit card do most millionaires use?
Go-to cards for millionaires are invite-only options such as Centurion® Card from American Express (also known as the “Black Card”) and the J.P. Morgan Reserve®. Amex doesn’t publicly state the conditions to qualify for the Centurion Card. For the J.P. Morgan Reserve, data points suggest you need at least $10 million in assets as a J.P. Morgan Private Client.
What is considered a premium credit card?
A premium credit card is generally considered to be a card that incurs a membership fee considerably higher than mid-range credit cards, which tend to hover between $95 and $150. You’ll pay an annual fee of at least $350 for an ultra premium credit card.
What credit card has a $100,000 limit?
Banks don’t generally reveal the credit limit of each credit card. If you’ve got a seven-figure income with a healthy credit profile, you may well qualify for a $100,000 limit with a premium credit card. Some Amex cards don’t actually enforce a firm credit limit, instead monitoring your purchase habits and increasing your spending power if you need it.
What is the best credit card for high income earners?
The best credit card for high-income earners depends entirely on financial goals and spending habits. There isn’t one “best” credit card. Some cards offer incentives for big spenders, including bonus rewards for large transactions, free hotel nights after meeting annual spending requirements and more.
What credit card is above Platinum?
In terms of prestige, the card above Amex Platinum Card is the Centurion® Card from American Express.
What are the three top credit cards?
The three “top” credit cards typically refer to the most premium rewards and travel credit cards — the Amex Platinum Card, Chase Sapphire Reserve® and Capital One Venture X Rewards Credit Card. These cards are all made of metal and come with several hundred dollars in potential annual value.
How many credit cards should you really have?
There’s no “perfect” number of credit cards to hold, but having multiple credit cards can be beneficial. It can help you to build your credit by giving you more opportunities to make on-time payments — and access to more credit means it’ll be easier to keep your credit utilization low. These are two of the most important factors that make up a healthy credit score.
How Do Our Critics Evaluate the Cards?
All of the credit cards featured on CardCritics™ are assessed using the same criteria. Our critics evaluate fees, interest rates, balance transfer options, introductory bonuses, rewards, additional benefits and the average credit score required for approval.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics™ references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.