Writer: Eric Bank
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
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You (or your parents) have worked hard and done well, so why not celebrate by applying for a few luxury credit cards? For this article, we’re only covering cards with an annual fee of at least $199.
Truth be told, many good credit cards cost less. We’ve drawn the line at a price point that buys you multiple premium benefits and card membership rewards.
Luxury credit cards provide perks you can’t get with (most) everyday credit cards. But different cards have different strengths, and some offer a better cost-benefit balance than others. This review makes sense of it all and should help you decide which cards deserve your consideration.
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Best Overall Luxury Credit Card
There can be only one best credit card. In this case, it’s not the most expensive premium card or the hardest to get. Citi Strata Elite℠ Card doesn’t come cheap, but travelers will find it pays for itself and then some.
- Earn 75,000 bonus Points after spending $6,000 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
Additional Disclosure: Citi is a CardRates advertiser.
Although Citi Strata Elite℠ Card has a steep price tag, it offers generous rewards, travel rebates, annual credits, and extensive protections and conveniences. With no foreign transaction fees, you can enjoy worldwide travels and earn one of the top signup bonuses in the market.
You also receive access to select airport lounges and other exclusive benefits. The card offers many other protections such as travel insurances, car rental insurance, and extended warranty.
Best Luxury Cards For Flights & Airport Lounge Access
A luxury card should make travel easier and more pleasant. These cards succeed by offering lounge access, free flights and seat upgrades, generous travel rewards, and various credits, significantly reducing their net cost.
- 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 and Landing locations and participating 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 rated mobile app
The Capital One Venture X Rewards Credit Card provides a signup bonus and better card membership rewards than those offered by many of its competitors. You and a guest can access the exclusive Capital One Lounge network and more than 1,300 partner lounges, including participating Priority Pass™ lounges.
You earn generous bonus miles on the flights you book through Capital One Travel and even more for hotel and rental car bookings. Venture X provides an anniversary credit and a yearly reimbursement on bookings made through its travel portal. You can transfer the points from this Visa Infinite card to more than a dozen travel partner programs.
- 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
Additional Disclosure: Non-Monetized. The information related to Chase Sapphire Reserve® was collected by CardRates 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. CardRates does not receive commission for this product.
The Chase Sapphire Reserve® card is your invitation to the bank’s growing lounge network, Chase Sapphire Lounge by The Club. New lounges are going up in New York, Boston, San Diego, Phoenix, and Hong Kong, among other as yet unannounced locations.
Each Sapphire Reserve cardholder can bring two guests at no charge. The card also provides complimentary access to more than 1,300 Priority Pass lounge locations worldwide.
- Earn 70,000 American Airlines AAdvantage® bonus miles after making $7,000 in purchases in the first 3 months of account opening
- Complimentary Admirals Club® membership
- No Foreign Transaction Fees on purchases
- Earn 10 AAdvantage® miles for every $1 spent on eligible hotels booked through aadvantagehotels.com and on eligible car rentals booked through aadvantagecars.com
- Earn 4 AAdvantage® miles for every $1 spent on eligible American Airlines purchases
- First checked bag is free on domestic American Airlines itineraries for you and up to 8 companions traveling with you on the same reservation
Additional Disclosure: The information related to Citi® / AAdvantage® Executive World Elite Mastercard® has been collected by CardRates.com and has not been reviewed or provided by the issuer or provider of this product or service.
The Citi® / AAdvantage® Executive World Elite Mastercard® gives you a free American Airlines Admirals Club membership. The card provides you and two guests complimentary access to more than 50 lounges across the globe.
Cardmembers get priority check-in and screening (where available), as well as early boarding when flying on American. You also get free baggage check, TSA Precheck reimbursement, and no foreign transaction fees on purchases.
- Earn 175,000 Membership Rewards® points after you use your new card to make $8,000 in purchases in your first 6 months of Card Membership
- Earn 5X Membership Rewards® points for flights booked directly through airlines or American Express Travel, on up to $500,000 on these purchases per calendar year. Also earn 5X Membership Rewards® points on prepaid hotels on AmexTravel.com.
- $600 annual hotel credit, $200 annual airline fee credit, $200 per year Uber cash credit, $300 per year digital entertainment credit, and more.
- Platinum Card Members have unlimited complimentary access to all locations of The Global Lounge Collection®, including 1,550 airport lounges.
- Apply with Confidence: Know if you’re approved for this Card with no credit score impact
- Fee Credit for Global Entry, TSA PreCheck®, CLEAR® Plus Membership
The Platinum Card® provides complimentary access for you and two guests to more than 1,400 members of the Amex Global Lounge Collection. The collection includes American Express Centurion, Delta Sky Club, and Lufthansa lounge locations.
In addition, you get an annual airline credit from the American Express Platinum Card when you charge incidental travel fees on one qualifying airline. The Amex Platinum card reimburses the membership cost of CLEAR, which provides touchless ID for faster passage through airport security.
- Earn 100,000 Bonus Miles after you spend $5,000 in purchases on your new card in your first 6 months of ownership
- Earn $1 Medallion® Qualification Dollar for each $10 of purchases made on your Card in a calendar year and get a boost toward achieving elevated Medallion Status for next Medallion Year
- Earn 3X miles on Delta purchases made directly with Delta — all other purchases earn 1 mile per $1
- Complimentary access to The Centurion Lounge
- Enjoy a Companion Certificate on a First Class, Delta Comfort+®, or Main Cabin round-trip flight within the U.S. and to Mexico, the Caribbean, or Central America each year after renewal of your Card
- As a benefit of Card Membership, you can check your first bag free on Delta flights booked with your card
- Fee Credit for Global Entry or TSA Precheck®
- Receive a 20% savings in the form of a statement credit after you use your Card on eligible Delta in-flight purchases of food, beverages, and audio headsets.
- $650 Annual Fee
The Delta SkyMiles® Reserve American Express Card provides complimentary Delta Sky Club access. Cardowners receive two complimentary one-time Sky Club guest passes each year.
You also get complimentary access to the American Express Centurion Lounge Network when you book a Delta flight with the Reserve Card. In addition, you receive an annual companion certificate for one complimentary round-trip Delta flight in an upgraded class.
- Redeem at 2% value for airfare and 1.5% for cash back. Just 50,000 points will get you a $1,000 ticket on any airline or $750 cash back, issued as a direct deposit statement credit.
- Earn 2X points on Airfare and Hotel reservations booked through LuxuryCardTravel.com. One point for every one dollar you spend for all other categories, earning points every time you spend.
- $200 Annual Airline Credit: Receive up to $200 in annual air travel credits toward flight-related purchases, including airline tickets, baggage fees, upgrades and more.
- $100 Annual Dining Credit: Get up to $100 in annual statement credits when you use your Luxury Card at qualifying restaurants.
- Receive up to $120 reimbursment credit for a Global Entry or TSA PreCheck® application fee. Global Entry includes access to TSA PreCheck® with no additional application or fee required.
- 24/7 Luxury Card Concierge®: Exclusive to Cardmembers. Your busy life never stops, and neither do our Luxury Card Concierge agents. Enjoy around-the-clock lifestyle management and planning support tailored to your specific needs—and designed to save you time. Our personalized one-on-one service delivers solutions, suggestions and even surprises to make every day exceptional. Book the trip. Get the reservations. Score the tickets.
- With your Luxury Card, enjoy complimentary access to over 1,700 airport lounges and travel experiences in more than 600 cities across 145 countries with Priority Pass™ Select. Access includes unlimited visits for yourself as well as your guests.
- Black-PVD-Coated Metal Card and Made of Stainless Steel®: Beautifully crafted and exceptionally premium, Luxury Card is a statement piece designed to stand out in the most refined way. Weighing in at an impressive 22 grams, its stainless steel, contactless patented card design and metal construction raises the standard. Carry a card with distinction.
- Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Annual Fee: $699 ($249 for each Authorized User). Terms and conditions apply.
The Mastercard® Black Card® provides complimentary admission to more than 1,700 airport lounges, mini-suites, and airport restaurants with Priority Pass Select. Access includes unlimited visits for you and your guests.
Luxury Card Concierge can arrange entry to the best five-star restaurants and spa services anywhere you travel. You also receive an annual airline credit, reimbursement for TSA Precheck and Global Entry charges, and several travel protections.
Best Luxury Cards For Hotel Benefits
You can’t enjoy a luxury experience at a fleabag hotel. These cards ensure a better fate by offering premium hotel benefits that should please discerning travelers.
- Earn 175,000 Membership Rewards® points after you use your new card to make $8,000 in purchases in your first 6 months of Card Membership
- Earn 5X Membership Rewards® points for flights booked directly through airlines or American Express Travel, on up to $500,000 on these purchases per calendar year. Also earn 5X Membership Rewards® points on prepaid hotels on AmexTravel.com.
- $600 annual hotel credit, $200 annual airline fee credit, $200 per year Uber cash credit, $300 per year digital entertainment credit, and more.
- Platinum Card Members have unlimited complimentary access to all locations of The Global Lounge Collection®, including 1,550 airport lounges.
- Apply with Confidence: Know if you’re approved for this Card with no credit score impact
- Fee Credit for Global Entry, TSA PreCheck®, CLEAR® Plus Membership
The Platinum Card® treats you to an annual credit when you book and prepay reservations through Amex Travel for more than 1,200 properties that belong to Fine Hotels + Resorts or The Hotel Collection (minimum two-night stay).
All prepaid hotel bookings earn high bonus points when you use Amex Travel. You can also enroll to receive Marriott Bonvoy and Hilton Honors Gold Elite Status, which entitles you to upgraded rooms and late check-out times (based on availability), among other benefits.
- Earn 150,000 Hilton Honors Bonus Points after you spend $6,000 in purchases on the card within your first 6 months of Card Membership
- Earn 14X points on hotels and resorts in the Hilton portfolio
- Earn 7X points on select travel, including flights booked directly with airlines or AmexTravel.com and car rentals booked directly with select car rental companies, and at US restaurants, including takeout and delivery. Earn 3X points on other eligible purchases.
- Enjoy complimentary Hilton Honors™ Diamond status with your Card
- Enjoy an Annual Free Night Reward from Hilton Honors in your first year of Card Membership and every year upon Card renewal
- $550 Annual Fee
The Hilton Honors American Express Aspire Card is your passport to elevated travel, starting with an especially lucrative signup bonus. You also earn generous rewards for eligible purchases at hotels and resorts in the Hilton portfolio.
Cardmembers earn complimentary Hilton Honors Diamond status with the Hilton Honors Aspire Card. You also get an annual statement credit and weekend night rewards for eligible purchases at Hilton resorts.
Best Luxury Cards For Dining & Entertainment
These cards give you a luxurious alternative on those occasions when you want something better than greasy fast food. Cardholders will savor the opportunities these cards provide for fine dining and sparkling entertainment.
- Earn as high as 100,000 Membership Rewards® points after you spend $8,000 in purchases on your new card within the first 6 months of card membership. Welcome offers vary and you may not be eligible for an offer.
- Earn 4X Points at U.S. supermarkets on up to $25,000 per calendar year in purchases. Also earn 4X Points at restaurants on up to $50,000 per year in purchases, 5X points on prepaid hotels booked through AmexTravel.com or Amex Travel App™, 3X points on flights booked through AmexTravel.com or Amex Travel App™ or directly through airlines, and 2X points on prepaid car rentals booked through AmexTravel.com or Amex Travel App™ and cruises booked and paid through AmexTravel.com.
- No foreign transaction fees
- $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at participating partners. This can be an annual savings of up to $120. Enrollment required.
- Take advantage of a $100 credit towards eligible charges at over 1,300 upscale hotels worldwide every time you book The Hotel Collection through AmexTravel.com or Amex Travel App™
- $325 Annual Fee
The American Express® Gold Card ranks on top due to its high reward rate for restaurant dining, including takeout and delivery. And to support home dining, the card offers the same reward rate for grocery shopping and a special Uber Cash deal.
Cardmembers get exclusive access to ticket presales and events, including Broadway shows and concert tours. With Preferred Seating, you can get premium seats for select cultural and sporting events based on availability.
- 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
Additional Disclosure: Non-Monetized. The information related to Chase Sapphire Reserve® was collected by CardRates 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. CardRates does not receive commission for this product.
Chase Sapphire Reserve® offers generous rewards on Chase Dining purchases when you make prepaid restaurant reservations, order takeout, or join virtual cooking events through Chase Ultimate Rewards. You also earn high rewards on any other dining purchases worldwide.
The card gives you a free DashPass membership for at least 12 months, a handy money-saver when you order food delivery. And you’ll earn bonus points for Lyft rides, which is a safe alternative after a night of celebrating. You also get a special Uber Cash credit.
- Redeem at 2% value for airfare and 1.5% for cash back. Just 50,000 points will get you a $1,000 ticket on any airline or $750 cash back, issued as a direct deposit statement credit.
- Earn 2X points on Airfare and Hotel reservations booked through LuxuryCardTravel.com. One point for every one dollar you spend for all other categories, earning points every time you spend.
- $200 Annual Airline Credit: Receive up to $200 in annual air travel credits toward flight-related purchases, including airline tickets, baggage fees, upgrades and more.
- $100 Annual Dining Credit: Get up to $100 in annual statement credits when you use your Luxury Card at qualifying restaurants.
- Receive up to $120 reimbursment credit for a Global Entry or TSA PreCheck® application fee. Global Entry includes access to TSA PreCheck® with no additional application or fee required.
- 24/7 Luxury Card Concierge®: Exclusive to Cardmembers. Your busy life never stops, and neither do our Luxury Card Concierge agents. Enjoy around-the-clock lifestyle management and planning support tailored to your specific needs—and designed to save you time. Our personalized one-on-one service delivers solutions, suggestions and even surprises to make every day exceptional. Book the trip. Get the reservations. Score the tickets.
- With your Luxury Card, enjoy complimentary access to over 1,700 airport lounges and travel experiences in more than 600 cities across 145 countries with Priority Pass™ Select. Access includes unlimited visits for yourself as well as your guests.
- Black-PVD-Coated Metal Card and Made of Stainless Steel®: Beautifully crafted and exceptionally premium, Luxury Card is a statement piece designed to stand out in the most refined way. Weighing in at an impressive 22 grams, its stainless steel, contactless patented card design and metal construction raises the standard. Carry a card with distinction.
- Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Annual Fee: $699 ($249 for each Authorized User). Terms and conditions apply.
The Mastercard® Black Card® offers a concierge service that can help you book a dining or entertainment experience worldwide. The service will allow you access to exclusive concert and event tickets any time, day or night. The card is less expensive than the Mastercard® Gold Card™ but provides most of the same benefits.
You also can have the concierge service plan sightseeing and hiking trips for you and your family. Beyond making dinner reservations, the service can help you sift through restaurants to meet your dietary restrictions.
Best Business Luxury Cards
Those who think you can’t mix business with pleasure should think again. These cards prove that the two mix quite well. If you own or run a business, you deserve nothing less.
- Earn 200,000 Membership Rewards® points after you spend $20,000 on eligible purchases with your Card within the first 3 months of card membership
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, 1.5X points on business categories and purchases of $5,000 or more on up to $2 million per calendar year, and 1X point for each dollar you spend on other purchases.
- Get up to $400 back per year toward U.S. purchases with Dell Technologies, up to $360 back per year for purchases with Indeed, and $120 back per year for wireless telephone service purchases on the Business Platinum Card, plus additional credits. Enrollment is required for all.
- Access to more than 1,400 lounges across 140 countries and counting with the American Express Global Lounge Collection®
- Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to your Business Platinum Card® Account.
- $695 Annual Fee
The The Business Platinum Card® provides lavish reward points for flights and prepaid hotels you book through Amex Travel. You earn annual statement credits for the money you spend recruiting new hires on Indeed and purchasing high-tech products from Dell Technologies.
With this Platinum American Express card, you can use employee cards to stay on top of your expenses. Employees can buy what they need (within the limits you set) as authorized users. You’ll earn rewards on each eligible purchase they make and receive real-time alerts to help you control their spending.
- 60,000 Bonus Points after you spend $5,000 on purchases in your first 3 months from account opening.
- Up to 9 points total per $1 spent at Hyatt – 4 Bonus Points per $1 on qualified purchases at Hyatt hotels & up to 5 Base Points per $1 from Hyatt as a World of Hyatt member
- 2 Bonus Points per $1 spent in your top three spend categories each quarter.
- 2 Bonus Points per $1 spent on fitness club and gym memberships
- 1 Bonus Point per $1 spent on all other purchases.
- Up to $100 in Hyatt statement credits – spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year.
- 5 Tier-Qualifying night credits toward status and Milestone rewards for every $10,000 you spend in a calendar year.
- World of Hyatt Discoverist status for as long as your account is open. Plus, Discoverist status to up to five employees
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to World of Hyatt Business Credit Card was collected by CardRates 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. CardRates does not receive commission for this product.
The World of Hyatt Business Credit Card offers a healthy signup bonus when you spend the required amount in the first three months. Naturally, you earn the highest reward point rate for your stays at Hyatt and affiliated properties.
The Hyatt Leverage program can save you hundreds yearly through discounts on standard room rates. You’ll reach Explorist and Globalist status even faster by issuing employee cards.
- Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after your Cardmember anniversary.
- Earn 4X pts on Southwest® purchases.
- Earn 2 points for every $1 you spend at gas stations and restaurants
- Earn 2X points on hotel accommodations booked directly with the hotel
- Earn 2X points on local transit and commuting, including rideshare.
- First checked bag free for Cardmembers and up to 8 additional passengers in the same reservation.
- Cardmembers and up to 8 passengers in the same reservation will board with Group 5 giving them earlier access to overhead bins.*
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to Southwest® Rapid Rewards® Performance Business Credit Card was collected by CardRates 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. CardRates does not receive commission for this product.
The Southwest® Rapid Rewards® Performance Business Credit Card is a no-brainer for business people who fly on Southwest. You get a set number of upgraded boardings, reward point transfer credits, and bonus points each year, plus reimbursement for your TSA PreCheck and Global Entry fees.
Each Southwest Airlines eligible purchase earns you tier-qualifying points toward A-List status. You can get employee cards at no additional cost and earn points on employee spending. Southwest flyers get free baggage check and don’t have to pay change fees.
What Is Considered a Luxury Credit Card?
The typical luxury credit card costs a lot but returns even more. In this article, we arbitrarily set $199 as the minimum annual fee for inclusion.
That leaves several good credit cards out of the running, including Chase Sapphire Preferred® Card, Capital One Venture Rewards Credit Card, and the Blue Cash Preferred® Card.
Luxury credit cards offer exclusive benefits, including generous signup bonuses, ongoing premium rewards, airport lounge access, travel insurance, and many other benefits. These cards also come with a premium price tag, with several charging $550 or more annually to bring you all their luxury perks.
These credit cards are often status symbols because they’re geared primarily toward big spenders with excellent credit.
Here’s a partial list of the types of perks you can expect from a luxury credit card:
- A large signup bonus worth $500 or more
- Generous rewards (often 5x membership rewards or more)
- Cards are often metal construction
- Annual credits, usually for travel
- Exclusive deals
- Airport lounge access
- Consumer protections
- Travel and rental car insurance
- Low introductory purchase and balance transfer APRs
- High credit limits
Naturally, not every luxury credit card offers all these features, but a few do. These cards usually focus on travel, dining, and entertainment benefits, the types of activities that appeal to many affluent cardowners with high credit scores.
We consider Chase Sapphire Reserve® to be the quintessential luxury credit card, the one we measure other cards against. To be a top-rated luxury card, the issuer must provide good value.
Cardowners who fork over several hundred dollars a year want to know that the value of their benefits will exceed their annual fees. Luxury cards that don’t satisfy this trade off will have trouble competing for customers.
What Credit Score Do You Need For a Luxury Card?
You typically need very good to excellent credit to get a luxury card. On the FICO scale, that translates to a minimum score of 740.
Truthfully, you can probably get most of the reviewed cards with a score of 700, as issuers often look beyond the number. They may consider your credit report, income, and debts when deciding whether to approve your application.
A card issuer must send you an Adverse Action Notice (AAN) if it declines your application. The notice explains the reasons for the rejection and the information sources on which it relied.
Typical justifications include low credit scores, a troubling credit report, insufficient income, and the inability to confirm your identity. It’s a good idea to treat an AAN as a helpful resource indicating what you must fix before reapplying.
What Is the Most Exclusive Luxury Card?
The American Express Centurion Card, or Black Card, is likely the world’s most exclusive credit card. It is notoriously expensive, costing $10,000 in the first year and requiring six-digit spending habits.
The card, a favorite among celebrities and the super-wealthy, is available by invitation only. It’s unclear how Amex decides who to invite, but it probably doesn’t hurt to have a long-standing relationship with the issuer. And lots of money.
The card is loaded with top-tier benefits, as you’d expect. Mere mortals can also get black credit cards, but not the one from American Express.
For example, the Visa Black Card became the Mastercard® Black Card® in 2016. RBC Bank offers a black card, and the Marriott Bonvoy Brilliant® American Express® Card is a black-colored luxury card. You need no invitations for these look-alikes.
Are Luxury Credit Cards Worth It?
As with many of today’s great questions, the answer is a resounding “It depends.” Almost all luxury cards provide good value, but only if you take advantage of their benefits. If you prefer to stay home, there may be little point in shelling out several hundred dollars for a fancy travel card.
Moreover, excellent cards providing many desirable perks are available for less than $200 a year. For example, the Citi Strata Premier® Card card offers impressive rewards and benefits for less than $100 a year.
- 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
Additional Disclosure: Citi is a CardRates advertiser.
But a luxury card is the way to go if you want the best credit card privileges, such as access to airport lounges and exclusive venues.
Get a Credit Card That Matches Your Lifestyle
Luxury credit cards make sense when you can take advantage of their benefits. If you like to travel, dine out, and attend events, you may find that a premium card is well worth a steep annual fee.
The cards reviewed in this article have a high pamper quotient, each offering one or more benefits that may fit your lifestyle well. Best of all, you’re free to change your mind if you’re unhappy with a card’s tradeoffs. Always read the fine print so you’re aware of all the perks you’ll be getting for your money.
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