There is a huge variety of premium credit cards on the market with companies battling it out for customers, but what is the best premium credit card, and what do you get for your money? Read on to find out.
The Black Card by American Express
It would be criminal not to introduce what is considered to be the most expensive and exclusive premium credit card in the world — the American Express Centurion Card, more often called simply “the black card.”
This card requires an upfront initiation fee of $10,000 and can only be obtained via a personal invitation. Talk about building demand through exclusivity.
For the most part, there is no spending limit on the black card. However, since this is a charge card, you are required to pay the balance in full by a preset date. In addition, you are given access to a wide variety of benefits, such as a 24-hour concierge service, rental cars, travel insurance, personal shoppers and exclusive access to designer brands. With an annual fee of $5,000 for the privilege of membership, taking advantage of these perks could make the card worthwhile.
If the AMEX Black Card seems like a little too much of a splurge, there are plenty of other credit cards available.
The Delta SkyMiles Reserve American Express Card is a good card if you travel often. If you spend $3,000 in your first three months, you earn 40,000 bonus miles. The card has an annual fee of $550 and also offers Delta Sky Club access.If you like dining out, the American Express Gold Card will earn you points at restaurants and supermarkets. You can also get dining and travel credits. You also get a $100 airline fee credit and an annual dining credit.