If you want to take your points and miles game to the next level, then it is time to consider a premium travel rewards card.

While there is no standard definition of what makes a travel rewards card “premium,” there are certain common characteristics. At a high level, a premium travel rewards card has the following features: increased welcome offer, elite benefits (i.e. lounge access, airline or hotel status, travel credits, etc), higher multiples on key earning categories, and more. However, those additional benefits come at a cost: a significant increase in the annual fee and a higher spend requirement for the welcome offer.

When To Consider A Premium Travel Rewards Card

A premium travel rewards card has the potential to make a meaningful impact on your travel experience, as these cards often include perks like airline status, hotel status, airport lounge access, expedited airport security, etc. Unlike a beginner travel rewards card, a premium travel rewards card, due to the high annual fee, requires more research to find the “right” card. However, before finding the “right” card, make sure a premium travel rewards credit card makes sense. Here are some general guidelines:

• Credit Score above 700 (above 750 is better)
• No hesitation paying an annual fee in the $400 – $700 range
• Ability to hit the welcome offer spend requirement
• Value of usable card benefits outweigh the annual fee

Credit. The Points Guy. Turkish Airlines Business Class Lounge (IST).

The Best Luxury And Premium Travel Credit Cards

Here is a quick overview of the best luxury and premium travel credit cards, which includes a summary of card details, reward rates, benefits, and more.

Even though the Capital One Venture X Rewards Credit Card is one of the newest premium travel rewards cards, it quickly became one of the most popular. The popularity stems from the easy earning structure of 2 Miles per dollar on every purchase, an easy to use $300 annual credit (when booking through Capital One Travel), and numerous other benefits (including access to the extremely popular Capital One Lounges). In addition, cardholders have the option to “erase” travel purchases with Capital One Miles or utilize one of the many transfer partner options.

Credit. The Points Guy. Capital One Venture X Rewards Credit Card.

Credit Card Details

• Intro Offer: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening
• Annual Fee: $395
• APR: 19.99% – 29.99% Variable
• Recommended Credit: 740-850 (Excellent)*

Reward Rates

• 10x Miles on Hotels and Rental Cars booked through Capital One Travel
• 5x Miles on Flights booked through Capital One Travel
• 2x Miles on All Other purchases

Other Benefits

• $300 back in credit annually (only applicable for bookings made through Capital One Travel portal)
• 10,000 bonus miles every account anniversary
• Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
• Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more
• Receive up to a $100 credit for Global Entry or TSA PreCheck®

The Platinum Card® from American Express is one of the most popular and valuable premium travel rewards cards. Despite the high annual fee of $695, the Platinum Card® from American Express offers incredible overall value through various benefits (i.e. hotel status and lounge access), extensive credits up to $1,500 (i.e. hotel, airline, and others), and a high earning opportunity on flight purchases. In addition, cardholders, can redeem American Express Membership Rewards points through the American Express Travel portal or transfer the points to one of the many American Express transfer partners. See rates and fees. 

Credit. The Points Guy. The Platinum Card® from American Express.

Card Details

• Intro Offer: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
• Annual Fee: $695
• APR: See Pay Over Time APR
• Recommended Credit: 670-850 (Good / Excellent)*
• See Rates And Fees

Reward Rates

• 5x on Flights booked directly with airlines or with American Express Travel (up to $500,000 on purchases per calendar year)
• 5x on Prepaid Hotels booked with American Express Travel
• 1x on All Other Purchases

Other Benefits

• Up to $200 Hotel credit (prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel) – requires a minimum two night stay
• Up to $240 Digital Entertainment credit ($20 per month on Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, SiriusXM (ending May 8th, 2024), and The Wall Street Journal)
• Up to $155 Walmart+ credit ($12.95 monthly Walmart+ membership) – Plus up benefits are not eligible
• Up to $200 Airline Fee credit (select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees)
• Up to $200 Uber Cash
• Up to $300 Equinox credit (on an Equinox membership or an Equinox club membership)
• Up to $189 CLEAR® Plus Credit
• Up to $100 Global Entry or TSA PreCheck® credit
• Up to $100 Saks Firth Avenue credit
• Complimentary elite status with Hilton and Marriott
• Access to the American Express Global Lounge Collection, including Centurion Lounges, Priority Pass lounges, Airspace lounges, Escape lounges, Plaza Premium lounges and Delta Sky Clubs

The Chase Sapphire Reserve® is one of the best premium travel rewards cards on the market. The value of the card comes from the ability to earn valuable Chase Ultimate Rewards points, a generous travel credit, and a host of other impressive benefits (i.e. lounge access and travel protection). In addition, cardholders can redeem Chase Ultimate Rewards points at 1.50 cents when booking travel through the Chase Travel portal or transfer the points to one of the many airline and hotel transfer partners. 

Credit. The Points Guy. Chase Sapphire Reserve®.

Credit Card Details

• Intro Offer: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
• Annual Fee: $550
• APR: 22.49% – 29.49% Variable
• Recommended Credit: 740-850 (Excellent)*

Reward Rates

• 10x on Hotels and Car Rentals when you purchase travel through Chase Travel℠
• 5x on Flights when you purchase through Chase Travel℠
• 3x on Other Travel and Dining
• 1x on All Other purchases

Other Benefits

• Get 50% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
• Receive up to a $100 credit for Global Entry or TSA PreCheck®
• Premium travel protection benefits including trip cancellation insurance, primary car rental insurance, and lost luggage insurance

Final Thoughts

A premium travel rewards credit card has the ability to massively upgrade your travel experience, but it comes at a significant cost. For those who only travel once or twice a year, a premium card may not make sense, as the cost outweighs the benefits. In addition, some of the benefits deemed most important (i.e. lounge access), may be available on travel rewards cards with lower annual fees. With that said, there are multiple premium travel rewards cards, with enough differences to provide a solution to any type of traveler. In many cases a premium travel rewards card is actually the perfect compliment to a beginner travel rewards card and not a replacement. Always think about your credit cards as a portfolio, and how you can maximize the value of the portfolio and not the value of an individual card.

*Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company. 

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.