The Best Premium Credit Cards

By Jason Steele. Last updated 16 March 2023. 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 $695. See rates and fees.

Welcome Offer: Earn 80,000 Membership Rewards® Points after you spend $6,000 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 $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®.

$240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, The New York Times, and other participating providers. Enrollment required.

$155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax. 

$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 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 available to Basic Card Member only.

$300 Equinox Credit: Get up to $300 back each year on an Equinox+ subscription, or any Equinox club memberships when you pay with your Platinum Card. Enrollment required. Learn more.

$189 CLEAR® Credit: Breeze through security with CLEAR® Plus at 45+ airports nationwide and get up to $189 back per year on your membership (subject to auto-renewal) when you use your Card.

Fee Credit for Global Entry or TSA PreCheck: 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 PreCheck (up to $85). If approved for Global Entry, at no additional charge, you will receive access to TSA PreCheck. 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 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 1,400 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.

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

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:

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.

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

This statment from the article says it all, " 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

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

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