The Best Premium Credit Cards
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Your credit card doesn't just have to be a card; it can also be the key to unlocking a hidden world of priority access and premium service. At one time, these services were reserved for the truly wealthy people that some now refer to as "the 1%." Today, banks are eager to offer their most exclusive products to customers with good credit, if not extraordinary spending power.
While these cards do provide some pretty excellent perks, you should never get them just for the sake of prestige. But if you use credit cards responsibly and are already paying out of pocket for the free services they provide, they can be financially worthwhile. (See also: Best Credit Cards for People With Excellent Credit)
The Platinum Card® from American Express
American Express has made a name for itself by offering premium products in conjunction with unsurpassed customer service. The Platinum Card® from American Express offers an impressive array of benefits, and taking advantage of even a few of them would more than cover their annual fee of $695. See rates and fees.
Welcome Offer: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on the Card in your first 6 months of Card Membership. Terms apply.
Rewards: 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.
Membership Rewards Program – Transfer Points: Transfer points to qualifying airline and hotel partners of any major U.S. Credit Card rewards program.
Premium Benefits: The whole point of having a premium card is for the exclusive benefits. Here's a list of just some of the perks the Platinum Card® offers.
$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with 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, SiriusXM, and The Wall Street Journal. Enrollment required.
$155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
$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®.
$200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
$300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
$189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
$100 Global Entry Credit: Receive either a $100 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.
$300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
Platinum Card® Concierge: Available 24/7 to help with anything from assisting with special dinner reservations to finding the perfect gift.
Global Dining Collection: Get special access to reservations and extraordinary experiences at restaurants that Platinum Card Members love, as well as the opportunity to meet some of your favorite chefs at exclusive culinary events.
Preferred Seating: Access to premium seats for select cultural and sporting events, based on availability.
Complimentary Elite status: Platinum Card members receive Marriott Bonvoy™ Gold Elite Status and Hilton Honors Gold Status (enrollment required).
Premium Global Assist® Hotline: When you travel more than 100 miles from home, get access to 24/7 medical, legal, financial or other select emergency coordination and assistance services.
Click here to learn more and apply for the The Platinum Card® from American Express today!
For rates and fees of The Platinum Card®, please click here.
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Tagged: Credit Cards, best credit cards
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
I'm loving my Chase Freedom card. 5% cash back on gas this quarter - cant be beat.
It is a nice deal. Thanks for sharing.
For Canadians- I've had a lot of success with the PC Mastercard and blogged about how it works for us here: http://preservingpennies.com/how-we-save-money-by-using-our-credit-cards/
Have people had a lot of issues with their MasterCard getting accepted? I think that would prevent that card from being #1 anywhere. The J.P. Morgan Select card looks pretty good though, especially with the first year's fee waived.
None of these credit cards are worth it! If you want to get the best rewards, then do some research into credit card arbitrage. Basically, you sign up for credit card promotions when they are giving away bonuses of $500 or more. I've done this with 5 credit cards in the past year, made over $4,000 and my credit score has actually gone up!
The American Express Platinum Card looks great, especially for people who travel a lot. I'm always envious of people with a Global Entry membership as I watch them walk through immigration in a 2 mins after I've been standing in line for immigration for about 45 minutes.
I'm thinking of obtaining another CC just for emergency purchases. Those premium cards listed are mostly good for those that do alot of travelling to rack up flight benefits e.t.c.
I have been living consumer debt free for the last few years, see post.
http://financiallyeliteblog.com/1380/live-without-credit-cards/
Dwight Anthony
Financially Elite Blog dot com
There's a very specific market for these cards. If you are traveling a lot and want to feel like a king, it might be worth it. For the rest of us, regular rewards card that doesn't carry that type of annual price tag is definitely better.
This statment from the article says it all, "...you know this is a great card because its name contains the word “Plus” twice." You've got to be kidding me! Cards with $495 annual fees are "premium"? I'm sure that's the word the issuing banks are using while they gloat over the premium fees, premium interest and premium bunch of suckers that own/use these cards. Carrying a credit card balance is stupid, no matter what you make, and paying a $495 fee to have it in your wallet/purse is one notch dumber!
I think you missed a card of very significant value. Wells Fargo offers a Mortgage Rebate Visa card. Instead of giving you "perks" that half of the population won't use, your earned points are credited towards the principal on your mortgage.
The best card Is the Chase Sapphire card. I had the Amex Platinum for 3 years and it wasn't worth it. First off the Chase sapphire is $95 per year whereas the Amex Platinum is $450 per year. Amex charges $15-25 per car rental for insurance whereas it's FREE up to 250k with Sapphire. It's a no brainier people. I've racked up $1,372 in travel money just in my first year alone