Best Premium Credit Cards

Premium credit cards are cards that offer exclusive benefits such as lucrative sign-up bonuses, elite ongoing rewards, airport lounge access, and more. Premium credit cards also come with a premium price tag, as cardholders can expect to pay $550 or more every year for all the luxury perks in many cases. Many premium credit cards are viewed as status symbols, and for good reason: they're geared primarily toward big spenders with excellent credit.

It's important to understand that “premium” is not an official classification for prestigious credit cards. There are numerous credit cards on the market with “premium” in their name that simply don't live up to their billing. However, there are still several credit cards that are more than worthy of the designation.

Some of the Best Premium Credit Cards

While premium credit cards are often a great fit for the well-off customers who can afford hefty annual fees, you should still do the math to make sure it's worth the yearly cost before you apply for a premium credit card. Factor in the card's annual fee against its potential benefits to determine if you'll use them enough for the card to pay for itself every year.

Secondly, review your credit card payment history beforehand. If you don't routinely pay off your entire balance every month, any interest charges – paired with the cost of the annual fee – may wipe out the overall value of any rewards you earn on a premium credit card.

The most exclusive credit card is the American Express Centurion Card, also known as the Amex Black Card. It is reportedly reserved for people who spend at least $100,000 per year, and an invitation is needed to apply. The so-called Amex black card is far too exclusive for most people, as a result, but there are plenty of other prestigious and exclusive credit cards that are attainable if you have excellent credit and make a lot of money.

To help you determine which, if any, of the most exclusive credit cards are right for your needs, WalletHub’s editors compared 1,500+ credit card offers and identified the best, most prestigious options for different types of applicants.

What Are the Most Exclusive Credit Cards?

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. 

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The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

However, actual billionaires aren't really in the habit of telling people what credit cards they have. Some billionaires like Mark Cuban even claim they don't use credit cards, although the ability to make large purchases without needing to come up with the cash makes credit cards appealing to billionaires and average customers alike. Billionaires have a lot of income and probably have excellent credit, so they can likely choose whichever card they want from the offers with the best perks.  

Billionaire Credit Cards: Top Cards for the Rich & Famous

For more options, check out WalletHub's editors' picks for the most exclusive credit cards and the best credit cards overall.

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting. For example, in the case of the Amex Centurion Card – also known as “the Black Card” – you reportedly need to charge at least $100,000 across Amex credit cards every year to even qualify for an invite. The Platinum Card® from American Express is another exclusive credit card that millionaires tend to prefer. Also, this card isn't invitation-only.

Credit Cards That Millionaires Use

• Centurion® Card from American Express
• J.P. Morgan Reserve Credit Card
• The Platinum Card® from American Express
• Chase Sapphire Reserve®
• Citi Chairman Credit Card

When invite-only cards aren't a good option, some millionaires choose premium travel rewards cards such as American Express Platinum card and Chase Sapphire Reserve. People with at least good credit who are approved for either card can expect lucrative bonuses, generous rewards on purchases, and other perks that will more than offset their hefty annual fees. The American Express Platinum card charges $695 a year to own, and Chase Sapphire Reserve likewise carries a big price tag with its $550 annual fee.

Millionaire business owners may also get good use from a business credit card such as the The Business Platinum Card® from American Express, a top choice for frequent travelers who don't mind shelling out $695 a year for all the high-end perks the card offers. The Ink Business Preferred® Credit Card is another attractive option for business owners with seven-figure incomes, as the card offers stellar rewards on business-related purchases and a significantly lower annual fee ($95) than American Express Business Platinum card.

Yes, it is hard to get the American Express Platinum card because applicants need a 700+ credit score and a high income to qualify for approval. But if you have good or excellent credit and make a lot of money, you have a good shot. And if you are able to take advantage of the card's substantial rewards and benefits, American Express Platinum can be worth owning.

American Express Platinum card isn't the hardest Amex card to get, though. Its requirements are far more lenient than those of the Centurion® Card from American Express. It is an invitation-only card that reportedly requires you to spend hundreds of thousands of dollars per year on another Amex card and have a 7 figure annual income to qualify.

The highest end card is The Platinum Card® from American Express because it has a wide array of high-end benefits, including airport lounge access and yearly credits of up to $200 for fees on a pre-selected airline, up to $200 for Uber, up to $200 hotel credits (requires a minimum two-night stay), and up to $100 for Saks Fifth Avenue, when enrolled. American Express Platinum card also has a high-end annual fee, at $695. And it's only available to people with good credit or better.

6 Highest End Credit Cards Right Now

• The Platinum Card® from American Express
• Chase Sapphire Reserve® 
• Ink Business Preferred® Credit Card 
• UBS Visa Infinite Credit Card  
• U.S. Bank Altitude Reserve Visa Infinite® Card 
• Centurion® Card from American Express 

To be clear, the best high end credit cards aren't necessarily the most exclusive credit cards. Being hard to get does not automatically make a card one of the highest end options. But a stellar credit profile still is required to be in the running for the highest end credit cards. 

The difference is that qualified applicants who get approved for one of the highest end credit cards will find themselves with credit limits, benefits, and rewards that are far superior to what's available from a regular, everyday credit card. In other words, the highest end credit cards are at the intersection of the best credit card offers on the market and the most prestigious options.

The best credit card for high income individuals is the Centurion® Card from American Express because it is reportedly available only to people with an annual income of at least $1 million and it requires an invitation. A history of spending more than $100,000 per year on Amex accounts is also believed to be required. Plus, there's an “initiation fee” of $10,000 and an annual fee of $5000.

Also known as “the Amex Black Card,” the Centurion® Card from American Express comes with a certain mystique and an air of prestige. The Black Card might be too prestigious even for some high-income earners, though. Fortunately, there are several high-end alternatives available to people with big bank accounts and excellent credit – and you don't need an invitation to apply.

Best Credit Cards for High Income Individuals

The best credit cards for high income individuals don't necessarily have to be the most exclusive. If rewards and convenience are more important than carrying a status symbol in your wallet, it's a good idea to stick with a rewards card that best fits your preferred features and spending habits.

If you need help searching for the right card, let our free CardAdvisor tool take care of all the guesswork. You'll get a personalized recommendation based on your responses to a few simple questions.

The most prestigious credit cards are the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and the Citi Chairman Card because all 3 cards are invitation-only. In addition, all 3 cards require applicants to meet high income and/or spending standards for approval.

Most prestigious credit cards in 2022

• Most Prestigious Overall: Centurion® Card from American Express (Amex Black Card)
• Best for Banking Clients: J.P. Morgan Reserve Credit Card (formerly Chase Palladium Card)
• Best for Special Benefits: Citi Chairman Credit Card

If you're looking for a prestigious credit card, but you don't quite qualify for an invitation from any of these 3 ultra-exclusive credit cards, don't worry. You might get a better - and less expensive - credit card experience with a normal rewards credit card. Or, a good travel credit card might fit your lifestyle. The best credit cards don't usually require a million-dollar income or private banking clout, and they still deliver plenty of great perks.

The best credit card for high spenders is Chase Sapphire Reserve, which has a $10,000 minimum spending limit. The Chase Sapphire Reserve card also offers 80,000 bonus points for spending $4,000 in the first 3 months.

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.

Here are some of the best credit cards for high spenders:

The Chase Sapphire Reserve offers 80,000 bonus points for spending $4,000 in the first 3 months. And it has a $10,000 minimum credit limit.

You will also earn a total of 10 points per $1 spent on hotels and car rentals booked through Chase, a total of 10 points per $1 spent on prepaid restaurant reservations or takeout orders made through Chase, a total of 5 points per $1 spent on flights purchased through Chase, 3 points per $1 spent on all other travel and dining purchases, and 1 point per $1 on all other purchases.

Plus, you'll get 50% more value when you redeem points for travel through Chase Ultimate Rewards. The Chase Sapphire Reserve annual fee rings it at $550.

Capital One Venture X gives you 75,000 miles for spending $4,000 in the first 3 months. In addition, it offers 2 - 10 miles per $1 on purchases. It has a $395 annual fee.

The American Express Platinum card offers 80,000 points for spending $6,000 in the first 6 months. There is no preset spending limit. You can also earn 5 points per $1 on flights booked with airlines or with American Express Travel (up to $500,000 spent per year), 5 points per $1 spent on prepaid hotels booked through Amex, and 1 point per $1 on all other purchases. This credit card's annual fee is $695.

The Wells Fargo Active Cash initial bonus is $200 cash rewards after spending $1,000 in the first 3 months. It also offers 2% cash rewards on all purchases. There are no category restrictions or sign ups and cash rewards don't expire as long as your account remains open.

The Blue Cash Preferred credit card offers $250 statement credit for spending $3,000 in the first 6 months. In addition, you can earn 6% cash back at U.S. supermarkets (up to $6,000 spent per year), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases, earned as statement credits. The annual fee is $0 intro 1st yr, $95 after.

The American Express Business Platinum card offers 120,000 points for spending $15,000 within 3 months. It gives 1 - 5 points per $1 spent on purchases. The American Express Business Platinum card has a $695 annual fee.

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

The most powerful credit card in the world is the Centurion® Card from American Express, which is famously known as the “black card” and seen as a status symbol for rich and influential people. Benefits include free access to airport lounges, elite status and other perks at various hotels, a personal concierge, lots of travel insurance and more.

This invite-only card has a $10,000 initiation fee and a $5000 annual fee. It's also reportedly only available to people who spend $100,000+ on another American Express card in a year, have an income over $1 million and have excellent credit.

The “power” of the Centurion® Card from American Express lies mostly in its prestige – it immediately tells people the cardholder is wealthy, and it gets them the very best service at airports and hotels. It will also offer a lot of spending power. Although most people won't be able to qualify for the Centurion® Card from American Express, there are other powerful, prestigious cards that are more easily attainable.

Most Powerful Credit Cards

You can learn more about the most exclusive credit cards and best credit cards on WalletHub.