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Premium credit cards come with an annual fee, but they also deliver high rewards rates and premium perks that often well offset the cost. The best premium credit card for you will earn high rewards rates in categories that align with your spending, offer redemption options you'll actually use, and provide perks you'll enjoy and credits you'll use without needing to spend extra.
Most premium credit cards are travel rewards credit cards, which makes them a great option if you're planning a major purchase and vacation in the future. If you time it right, you can earn what's often a lucrative welcome bonus and spend it on your upcoming trip.
Ultimately, your choice of a premium card should be personalized to your needs, but I'll let you know which cards I use and recommend for my friends and family.
Should I get a premium credit card?
If you can comfortably earn the welcome bonus on a premium credit card without spending beyond your budget, that's a good sign you'll benefit from applying for one. But it's worth evaluating your past spending and calculating the value of different credit card point systems to choose the right one.
You should not get a premium credit card if:
- You carry a balance from one month to the next on one or more credit cards
- You have a fair or poor credit score
- You don't yet have an emergency fund or a retirement account
If any of the above apply to you, start by building credit, establishing a budget, and paying down debt first.
Compare the best premium credit cards
| Credit card | Great for | Annual fee | Welcome offer | Rewards rate | Top perks |
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Capital One Venture X Rewards Credit Card
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Flexible travel | $395 | Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening | 2 miles per dollar on every purchase, every day; 10 miles per dollar on hotels and rental cars booked through Capital One Travel, 5 miles per dollar on flights and vacation rentals booked through Capital One Travel, and 5 miles per dollar on Capital One Entertainment purchases | 10,000 mile anniversary bonus; $300 annual travel credit for bookings through Capital One Travel |
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American Express® Gold Card
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Dining and groceries | $325 | Earn as high as 100,000 Membership Rewards Points after you spend $6,000 in eligible purchases within the first 6 months of card membership (welcome offers vary and you may not be eligible for an offer; apply and find out your offer) | 4X Membership Rewards points at restaurants worldwide (up to $50,000 per year, after that 1X), 4X at U.S. supermarkets (up to $25,000 per year, after that 1X), 3X on flights booked directly with airlines or on AmexTravel.com, 2X on prepaid hotels and other eligible purchases booked on AmexTravel.com, and 1X on all other eligible purchases | Monthly Uber cash and dining credits (enrollment required) |
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American Express Platinum Card®
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High-end travel and shopping | $895 | Earn as high as 175,000 Membership Rewards points after spending $12,000 on eligible purchases on your new card in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply and find out your offer) | 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases | $600 hotel credit (up to $300 semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel ; largest global lounge network (enrollment required) |
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Chase Sapphire Reserve®(Rates and fees)
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Travel with lifestyle and entertainment and benefits | $795 | Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening | 8x points on all purchases through Chase Travel℠ (including The Edit℠), 4x points on flights and hotels booked direct, 3x points on dining worldwide & 1x points on all other purchases | $300 annual travel credit; $500 annual credit for stays at The Edit hotels |
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Citi® / AAdvantage® Executive World Elite Mastercard®
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American Airlines loyalists | $595 | For a limited time, earn 100,000 American Airlines AAdvantage® bonus miles after spending $10,000 within the first 3 months of account opening. | 10X miles on hotels booked through aadvantagehotels.com and eligible car rentals booked through aa.com/cars, 4X miles on eligible American Airlines purchases (after spending $150,000 per calendar year this increases to 5X for the remainder of the calendar year), and 1X miles for every $1 spent on other purchases | Admirals Club membership; Up to $120 back on eligible Avis and Budget car rentals |
Capital One Venture X
This is the card I use for most of my spending. It earns more than most other premium credit cards on necessary expenses that fall outside of typical rewards categories — insurance premiums, vehicle maintenance, and medical expenses, for example.
It's one of the more affordable premium travel credit cards and essentially pays for itself each year between the annual travel credit and anniversary bonus. It also has incredibly flexible redemption options. I'm the type of traveler who might book a budget domestic trip one year, take an extended road trip the next, and splurge on an international trip the year after.
So I appreciate that the Venture X card offers higher earn rates on travel booked through Capital One Travel. Unlike the Chase Travel Portal, Capital One lets you book budget carriers like Frontier. You also have the option to transfer your miles to 15+ Capital One travel partners for those international voyages.
If you have a similar travel style, you should consider this one of the best choices for a premium credit card.
- Up to $120 credit for Global Entry or TSA PreCheck
- Up to $100 experience credit and premium benefits when booking select hotels
- Superior travel booking tools through Capital One Travel, such as price drop protection
- Complimentary lounge access restricted to the primary cardholder
- Doesn't offer dining credits
- Can't use annual travel credit for direct bookings
Learn more in our Capital One Venture X review.
American Express Gold Card
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- Robust rewards for dining out and U.S. supermarket purchases
- Offers great travel rewards and benefits
I was drawn to this card by the lucrative welcome bonus, but I kept it for the high rewards rate on dining at restaurants and U.S. supermarket purchases. Even without the boosted rewards, the credits more than offset the annual fee, and it's a no-brainer to earn them in the course of your regular spending.
One takeout order from Grubhub each month earns the up to $10 dining credit (enrollment required), a single U.S. Uber ride or UberEats order each month makes use of the $10 in Uber Cash (enrollment required), and I go for a latte at Dunkin' to take advantage of the up to $7 monthly credit (enrollment required).
The Amex Gold card also offers two up to $50 statement credits semi-annually for dining at U.S. Resy restaurants, and you don't have to book a reservation with the platform to receive the credit — I'm always pleasantly surprised to see the $50 credit on my statement without any planning.
All that makes the card a tasty deal for foodies and home chefs looking to save and earn on their spending.
- High rewards rates for restaurants, U.S. supermarkets, and eligible travel
- Book stays of two nights or more at the Hotel Collection through Amex Travel to earn a $100 credit and premium benefits
- Unique payment options like Plan It® and Send & Split®
- Points are worth less with some redemption options, including certain travel bookings
- Doesn't offer airport lounge access or TSA PreCheck credit
- Elevated earn rate on U.S. supermarkets is capped at $25,000 in annual spending
Learn how to apply | Learn more in our American Express Gold Card review
American Express Platinum Card®
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- Enjoy hundreds of dollars in annual credits (enrollment required for select benefits)
- Gain access to exclusive airport lounges worldwide (enrollment required)
- Elevate your hotel stays with elite status perks (enrollment required)
- Earn valuable Membership Rewards points on flights and hotels
- Protect your trips with top-notch travel insurance
This is the card I recommend to my bougiest friends and relatives — the ones who always travel business class, book the nicest hotels, and don't think twice about spending hundreds of dollars on activewear.
While the Platinum Card® has the highest annual fee on our list, it also packs the most value in statement credits and could provide the best welcome bonus to new cardholders.
It offers $200 annually in Uber Cash plus a credit for an annual Uber One membership, up to a $209 annual CLEAR+ membership (subject to auto-renewal), $600 in statement credits (up to $300 semi-annually) for premium hotel bookings through Amex Travel, and access to the largest global lounge network. That includes Centurion Lounges, which are considered less-crowded, higher-end alternatives to Priority Pass and other lounge networks, and that is one of the reasons it made our list of the best credit cards for luxury travel.
While the Platinum Card® offers access to tough-to-get dinner reservations, tailored events, and other experiences not open to the public, the rewards rates are lackluster relative to other premium cards, making it better for those who value experience over raw earning power.
- Extremely lucrative welcome bonus for some applicants
- Over $3,500 in annual value for travel, entertainment, and shopping
- Transfer points to Hilton, Marriott, or Choice Privileges loyalty programs for potentially even more value
- Very high annual fee
- Rewards rates aren't as high as competing premium cards
- Many redemption options are worth less than $0.01 per point
Learn how to apply | Learn more in our Platinum Card® review
Chase Sapphire Reserve Card
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- 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
The Chase Sapphire Reserve Card offers a wide array of statement credits and benefits covering travel, dining, entertainment, and lifestyle categories, adding up to $2,700 in total value. But aside from the annual $300 in travel statement credits, which can be used for most travel purchases, many of the credits are relatively restrictive.
For example, the up to $300 annual dining credit can only be used at restaurants in the Sapphire Exclusive Tables Program, and the up to $500 annual hotel credit can only be used at prepaid hotels in The Edit collection (two night minimum required).
Where this card really shines is in its redemption options. With Points Boost, you can redeem your points for up to twice their value for select flights and hotels, which is great for folks who love hunting for a deal. And if you want to transfer your points to an airline loyalty program, Chase has more domestic options than other premium credit card brands.
Chase is the only issuer that partners with Southwest Airlines, and you can also transfer points to JetBlue or United. That opens up the opportunity to redeem rewards on a whole lot of domestic routes if you tend to travel within the U.S.
- Global airport lounge access for primary cardholder and two guests
- Superior travel insurance, including emergency evacuation, medical, and dental
- Customized itineraries valued at up to $300 when you travel
- Some credits can only be used at specific hotels or restaurants
- Each authorized user costs $195
Apply for the Chase Sapphire Reserve | Learn more in our Chase Sapphire Reserve review
Citi® / AAdvantage® Executive World Elite Mastercard®
If you typically fly American, particularly if you're a frequent flyer, this is the premium card that will likely get you the most value. Only Citi partners with American Airlines, so you couldn't transfer Amex Membership Rewards or Chase Ultimate Rewards points to AAdvantage, for example.
When you book flights, hotels, rental cars, or make other American Airlines purchases with your card, you'll rack up both AAdvantage miles and loyalty points, which gets you closer to elite status benefits. You'll also get your first checked bag free on domestic AA flights and 25% off in-flight food and beverage purchases.
This card also offers you and two guests access to Admirals Club and partner lounges worldwide. Admirals Club lounges are considered to be more comfortable and less crowded than competing lounge networks, though they're less luxurious than Centurion lounges.
While your redemption options will be relatively limited compared to general travel cards, you can use your AAdvantage miles to book flights with over 20 international partner airlines or book hotels and car rentals worldwide.
- Opportunities to earn loyalty point bonuses
- Miles earnings can snowball as you achieve higher loyalty program status
- Admirals Club lounge access for primary cardholder and two guests
- Can't redeem rewards for statement credits or cash back
- Annual statement credits alone don't offset the annual fee
- Additional annual fee for authorized users
Learn more in our Citi® / AAdvantage® Executive World Elite Mastercard® review.
FAQs
What is the most premium credit card?
Aside from exclusive, invitation-only cards like the The Centurion® Card from American Express, one of the highest annual fee credit cards open to applicants is the Mastercard® Gold Card™. It is made with 24K gold, costs $995 annually, and delivers benefits like luxury concierge service.
Which credit cards are considered premium?
Credit cards are typically considered premium when they have high annual fees and offer luxury perks, such as access to premium hotel benefits or airport lounges. Examples include the Chase Sapphire Reserve Card and the Platinum Card®.
Are premium credit cards worth it?
Premium credit cards are often worth it for people who spend enough money to earn the welcome bonus, make use of the statement credits, and get incremental value out of the boosted rewards rate.
Bottom Line
The Capital One Venture X card is great for do-it-all travelers who hate restrictions, and it essentially pays for itself each year in credits and bonus miles. It doesn't offer much in the way of dining rewards, so you may want to pair it with a premium dining card, like the American Express® Gold Card, which also earns a high rewards rate on groceries at U.S. supermarkets.
If you tend to book high-end travel, the American Express Platinum Card® is for you, and if you want a credit card that covers dining, entertainment, travel, and lifestyle, go for the Chase Sapphire Reserve® — as long as you don't mind doing a bit of legwork to get maximum value.
American Airlines loyalists will get the most value from the Citi® / AAdvantage® Executive World Elite Mastercard®, especially folks who book flights frequently.
Methodology
To choose the best premium credit cards, we considered all credit cards from the major brands with annual fees that offered luxury perks, such as access to airport lounges, elevated rental car loyalty status, and/or premium hotel benefits. We evaluated each card based on cost vs. value (annual fee vs. total value of statement credits), flexibility/restrictiveness of statement credits, and rewards rates. We also assessed the tools, features, and carriers available in the issuer's online travel portal, the available rewards redemption options and their value, the credit card issuer's lounge network and transfer partners, the insurance benefits offered with the card, and more.
How we rate products
Intro Offer
Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
Annual Fee $0 Why we like it
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