5 Best Premium Credit Cards For 2021
Premium credit cards are only available for those with great credit. But if you have excellent credit and are a relatively big spender, these cards can give you some serious perks. As with all rewards cards, you’ll want to pay them off each month to see the real benefits. But you’re probably already doing that since you have a great credit score.
Related: How to Improve Your Credit Score
Wondering which cards you should check out once you reach the excellent credit score level? Check out these top five premium credit cards for 2021:
The Platinum Card® from American Express
As with most premium credit cards, this one has a high annual fee of $695. But you may be able to easily out-earn that fee annually with its crazy rewards. For one thing, the card gives a $200 airline credit fee per calendar year for things like checked bags and in-flight refreshments that you charge to your card with qualifying airlines. Besides that, rewards include:
- 5 Membership Rewards points per $1 spent on flights booked directly with airlines or through American Express Travel
- 5 Membership Rewards points per $1 spent on prepaid hotels booked on amextravel.com
- 2 Membership Rewards points per $1 spent on other amextravel.com purchases
- 1 Membership Rewards point per $1 spent on everything else
- A fee credit every four years when you apply for and receive Global Entry or TSA PreCheck
- Complimentary benefits at Fine Hotels & Resorts
- Access to the American Express Global Lounge collection at more than 1,200 airport lounges around the world
- 80,000 Membership Rewards points when you make $6,000 in purchases within the first six months of card ownership
As you can see, The Platinum Card® from American Express is an excellent option for frequent travelers. It’s also great because you don’t run the risk of paying interest fees since you’re required to pay off the card’s balance in full each month.
Chase Sapphire Reserve®
This card’s annual fee is a bit lower. With that said, it’s still an excellent option for frequent travelers. The cards offer a $300 annual travel credit, which can be used for different types of travel compared with some of the other cards here. Other benefits include:
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
- Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority PassTM Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
This card is another excellent option for those who travel often and want to get points a bit more flexibly for their travel and dining out while traveling.
There is a $550 annual fee to own however.
Chase Sapphire Preferred®️ Card
Want a premium credit card with a lower annual fee? The Chase Sapphire Preferred might be the card for you. Its $95 annual fee is much easier to swallow, though that also means lower overall benefits. But, still, it’s a great card for travelers, and offers the following benefits:
- 2 points per $1 spent on travel, including airfare, hotels, taxis, and trains
- 2 points per $1 spent on dining out around the world
- 1 point per $1 spent on everything else
- 1:1 points transfer to partner airline and hotel loyalty programs
- $0 foreign transaction fee
- 60,000 bonus points ($750 in travel redemption value when booked through Chase) when you spend $4,000 on purchases within the first three months of card ownership
As you can see, this card gets lower points, but it’s still a great deal for those who travel and dine out frequently and could drive excellent value for you annually.
MasterCard® Titanium Card™
This card is actually made of stainless steel, so it definitely looks premium. But do its actual benefits hold up? It offers more flexible rewards than the cards listed above, including:
- 1 point per every $1 spent on any purchase, redeemed at a 1% rate for cashback or a 2% rate for airfare redemptions
- $195 annual fee
- Additional benefits and perks for traveling, including complementary food and beverages, spa credits, and more when you book with your card
Overall, this card has a less attractive rate of bonus points. However, since you can use your points for cashback, that can be a nice way to add flexibility. If you don’t travel frequently, then you may not spend much in the bonus categories of other cards. So having a flat 1 point per $1 spent could be a helpful option for you.
Ink Business Preferred® Credit Card
If you’re a business owner in the market for a premium credit card, check this one out. It charges a reasonable $95 annual fee and has some killer bonus points options, including:
- 3 points per $1 spent on the first $150,000 in combined purchases on travel, shipping expenses, internet, cable, and phone services as well as advertising purchases on social media sites and search engines each year
- 1 point per $1 spent on all other purchases, unlimited
- 100,000 bonus points when you spend $15,000 on purchases in the first three months of opening your account
- 25% bonus points when you redeem for travel through Chase Ultimate Rewards
- Free employee cards with their own individual spending limits
Overall, this is an excellent premium credit card for business owners, particularly those who travel frequently. It can be a great option for meeting your business spending needs and driving extra value.
Getting a premium credit card is a big decision since these cards often come with high annual fees. Be sure to analyze your spending before you apply to ensure you’ll at least out-earn the annual fee. Then see which card will drive the most value for you in line with your spending patterns.