The Best Premium Credit Cards

By Jason Steele. Last updated 10 January 2021. 10 comments

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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 $550. See rates and fees.

Welcome Offer: 75,000 Membership Rewards® points after you spend $5,000 on purchases on your new Card in your first 6 months of Card Membership. Plus, earn 10x points at U.S. Gas Stations and U.S. Supermarkets, on up to $15,000 in combined purchases, during your first 6 months of Card Membership.

Rewards: Earn 5x Membership Rewards® points for flights booked directly with airlines or with American Express Travel, on up to $500,000 on these purchases per calendar year. Also earn 5x points on prepaid hotels booked on amextravel.com.

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 Uber Cash: Receive $15 in Uber Cash for rides or eats orders in the U.S. every month plus a bonus $20 in December. That's up to $200 for Uber rides or eats orders annually. You'll also become an Uber VIP, where available, without meeting minimum ride requirements and be matched with top-rated drivers, so that even a 5-minute trip can be a 5-star experience.

Fee Credit for Global Entry or TSA Pre✓®:  Receive either a statement credit available every 4 years after you apply for Global Entry ($100) or a statement credit available every 4.5 years after you apply for a five-year membership through any Authorized Enrollment Provider for TSA Pre✓® (up to $85). If approved for Global Entry, at no additional charge, you will receive access to TSA Pre✓®. Each Additional Card on eligible Card accounts is also eligible.

Shop Saks: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on your Platinum Card®. That's up to $50 on a semi-annual basis. Enrollment required.

The Global Lounge Collection®:  Arguably the best perk with the platinum card is access to more than 1,300 airport lounges across 140 countries and counting, more lounge options than any other credit card on the market.

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.

The Hotel Collection:  When you book The Hotel Collection with American Express Travel, get a $100 onsite credit for qualifying activities like dining or spa treatments. Minimum 2-night stay required to be eligible for the benefit. Qualifying activities vary by property.

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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The 5 Best Premium Credit Cards
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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.

Guest's picture
Brian

I'm loving my Chase Freedom card. 5% cash back on gas this quarter - cant be beat.

Guest's picture
Guest Muhammad Jahid Hasan

It is a nice deal. Thanks for sharing.

Guest's picture

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/

Guest's picture

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.

Guest's picture

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!

Guest's picture
Carl Lassegue

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.

Guest's picture

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

Guest's picture

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.

Guest's picture
mmmbuzz

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!

Guest's picture
Brian

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.

Guest's picture
Guest

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