The best credit card for high spenders is Chase Sapphire Reserve. It has a $10,000 minimum spending limit. You get bonus points worth $750 toward travel for spending $4,000 in your first 3 months. And while the $550 annual fee is steep, the card comes with a $300 travel credit, 3 points per $1 on travel and dining, and 50% more value for your points when you redeem them for travel on the Chase Ultimate Rewards site. High spenders will earn far more value than the fee’s cost.
But it’s hard to narrow it down to a single card when the decision depends on how much you spend, how much you’re willing to pay in fees, and what perks you value most. For instance, Chase Sapphire Reserve charges $355 more than Capital One Venture in annual fees but comes with global airline lounge access worth $359. And if you’re more interested in cash than miles, you may want to consider Amex Blue Cash Preferred.
Best credit cards for high spenders:
Chase Sapphire Reserve: 50,000 points for spending $4,000 in your first 3 months, worth $750 when redeemed for travel. $300 annual statement credit for travel purchases. Access to 1,000+ global airline lounges with a Priority Pass Select membership worth $359 per year. $10,000 minimum credit limit. 3 points per $1 on travel and dining, 1 on everything else. 50% more value when you redeem points for travel through Chase Ultimate Rewards. $100 credit to cover the application fee for Global Entry or TSA Pre-check. $550 annual fee.
Capital One Venture: 60,000 miles for spending $3,000 in your first 3 months worth $600 in travel. $5,000 minimum credit limit. 2 miles per $1 on all purchases. $95 annual fee.
Amex Platinum: 75,000 points for spending $5,000 in your first 6 months. That’s worth $600 when redeemed for flights booked through the Amex travel portal, NYC taxi rides, and select gift cards. $200 annual Uber credit. $200 annual airline fee credit. Access to 1,000+ airline lounges worldwide with Priority Pass Select, worth $359 per year. No pre-set spending limit. 5 points per $1 on flights and hotels booked on Amex Travel, as well as flights booked directly with the airline. 1 point per $1 everywhere else. $100 application fee credit for Global Entry or TSA Pre-check. Benefits at Amex Fine Hotels and Resorts collection worth $550 annually, on average. $550 annual fee.
Amazon Credit Card: $50 gift card amazon gift card on approval ($70 for Prime members). 3 points per $1 on Amazon and Whole Foods purchases (5 with Prime). 2 at gas stations, restaurants and drugstores. 1 point per $1 everywhere else. Points are worth 1 cent each at Amazon. No annual fee. Prime membership costs $99 per year. No minimum credit limit.
Blue Cash Preferred from American Express: $300 for spending $3,000 in your first 6 months. 6% cash back on up to $6,000 per year at grocery stores. 3% cash back at gas stations and on transit. 1% everywhere else. $95 annual fee, waived first year. No minimum credit limit.
The best credit card for high spenders will ultimately depend on the spender in question. And it’s important to make sure that your card has a high enough limit to accommodate your spending. To maintain your credit score, you should try to use no more than 30% of your available credit. And if you’re trying to build credit, you want to keep your credit utilization below 10%.