Writer: Mike Randall
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
Key Takeaways
Millionaires don’t just spend money; they make their spending work for them.
-
The most exclusive credit cards may require an invitation to apply.
-
Citi Strata Elite℠ Card: Best for premium travel rewards you don’t need an invite to get. See rates & fees
Credit cards that cater to the ultra-rich are popping up everywhere. These exclusive cards often offer the best rewards and elite perks, like access to private jets and personal shoppers, that allow high-net-worth individuals to reward themselves for all their hard work.
Most are available only by invitation and only to those whose vacation budgets exceed the annual income of the average American. Keep reading to see our list of some of the most prestigious credit cards used by millionaires, and for those of us who aren’t raking in seven figures a year (hi), we offer links to some perk-packed cards for the more common consumer.
1. Citi Strata Elite℠ Card
Regarded as one of the best premium travel cards on the market, the Citi Strata Elite℠ Card is in the pockets of millionaires and more modest cardholders alike.
- 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.
The card earns 12 points per $1 spent on hotels, attractions, and car rentals booked through Citi Travel, and it comes with a valuable signup bonus. You’ll also earn bonus points on restaurants and restaurant delivery services.
While the card has a big annual fee, the serious earnings potential and annual hotel credit can really make it worth it if you’re an avid traveler. Cardholders also receive a ton of travel perks, including airport lounge access and Priority Pass Select membership.
3. JPMorgan Chase Palladium Visa
This exclusive credit card is one of the more impressive ones you’ll see. It’s made of actual palladium and gold, etched with the cardholder’s information and account number.
It is available only to those high-net-worth individuals who have an investment banking relationship with JP Morgan’s wealth management brokerage.
With a fee of only $595 a year, cardholders are lucky enough to not be charged for foreign exchanges, late payments, cash advances or overdrafts. There isn’t a spending limit, either.
4. Citigroup Chairman Card
Similar to the Chase Palladium card, the Citi Chairman Card is open only to holders of a Citigroup brokerage account. It comes with a $300,000 credit limit and a relatively low annual fee of $500.
This card also has perks such as 24-hour concierge service, travel upgrades, access to private airport lounges and more.
If you weren’t approved for a Chairman Card, consider opening one of our awesome travel cards to get excellent perks of your own.
5. American Express Centurion Card
This is the official name of the legendary American Express “Black” Card – arguably the prestige card that started it all. In order to qualify, a holder of the also prestigious American Express Platinum Card would need to have charged $250,000 or more in the previous year.
If they’ve met that impressive goal, invitees will have the privilege of paying a one-time fee of $7,500 and an annual membership fee of $2,500. Of course, they’ll also have the honor of holding one of the most exclusive credit cards in the world.
Naturally, the benefits that come with the card are impressive: a dedicated concierge and travel agent, complimentary travel tickets for companions, free nights at select hotels, access to numerous airport clubs and plenty more.
6. Stratus Rewards Visa
In contrast to the Black card (although nearly as exclusive) is the Stratus Rewards Visa “White” card.
This card is also only available by invitation and only to high-net-worth individuals, although membership is a relatively affordable $1,500 a year. For this fee, cardholders get reward points they can use for things like private jets or charter flights, as well as luxury hotel upgrades and other perks.
7. Coutts World Silk Card
While Americans may not be familiar with Coutts Bank, it’s known in the U.K. as the bank to the Royal Family. The Coutts World Silk Card is therefore suitably exclusive and rare. To be invited to carry this card, an individual must have at least $1 million in a Coutts account.
It goes without saying the perks are equally outrageous: concierge services, extensive worldwide travel insurance, access to more than 700 exclusive airport lounges and numerous VIP offers with travel and retail companies.
If you’re not royalty yourself, you can still find credit cards with awesome points and rewards.
8. Bank of Dubai First Royale MasterCard
Undoubtedly the most ostentatious of all prestige cards, the Dubai First Royale Card is trimmed in gold, with a diamond set in its center.
As you might expect, this card comes with no preset spending limit and is obviously intended for people who don’t need to worry about interest rates or annual fees.
As for the card’s perks, the bank simply states that its round-the-clock team attempts to meet the cardholder’s requests, no matter what they are. Nice.
Final Thoughts
Since most of us will never need to worry about carrying one of these ultra-prestigious cards ourselves, we can only imagine the luxurious uses they get put to. But you don’t have to be a millionaire to carry a card that unlocks prestigious perks.
Some of the top-tier consumer credit cards, like the highly rated Chase Sapphire Reserve®, offer many of the same elite bonuses, including lounge access and travel benefits. The card is even made with metal, giving it the same exclusive feel as many of its invite-only competitors.
So, while cards made of gold or titanium may be out of reach for many of us, there are a number of solid options to help you enjoy some everyday luxury — without paying thousands in annual fees. Thinking about opening a credit card of your own now? Check out our hand-picked favorites!
Photo credits: mindless-marketing.com, luxury-design.com, creditcardexpert.net, pengeportalen.com, clubdelux.pt, dubayblog.com
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
About the Author
