It may be time for you to apply for a premium credit card if you are 1) already comfortable paying a credit card annual fee, and 2) find yourself wishing your current credit card offered a bit more.
Credit cards with a low, or no annual fee can offer some great benefits, but when it comes to the cream of the crop of credit cards perks, premium credit cards are where you'll get the most bang for your buck. Things like airport lounge access, travel credits, elite status, free companion travel, special car rental privileges and concierge services are usually reserved for luxury credit card holders. The annual fees for these cards can be steep, but if you're someone who will regularly use these benefits, you likely won't have much trouble offsetting the cost of your card.
Take the CardName for example. It gains cardholders access to Priority Pass membership, which starts at $99 annually for the basic membership plan if you were to join without a credit card offering access, plus $32 a visit for you, and $32 for each guest you bring. And that's just the very base plan. More expensive plans costs as much as $429 annually, and still charge for visitors. With the Venture X card, you get unlimited Priority Pass lounge visits for you and your guests, just for being a cardholder. That alone has the potential to more than offset the card's annual fee, and it's not even taking into consideration things like Capital One Lounge access or the $300 statement credit you can earn for bookings made through Capital One Travel. CardRatings Senior Managing Editor Jennifer Doss shares what went into her decision to upgrade to a premium credit card.
If you're looking for luxury perks, a premium credit card may be the way to get them, and can also save you money. If you're ready to take your credit rewards strategy to the next level, the cards in the list above are a great place to start your luxury credit card journey.