Premium credit cards—are they a good fit for you?

Premium credit cards come with premium rewards

While regular credit cards do offer extra points for purchases, premium cards come with top-of-the-line rewards—up to 10x or more on entertainment, fitness purchases, dining, groceries and more. You’ll even find ones that are dedicated to certain types of rewards, such as those that are aimed at frequent travelers that reward you in airline miles and hotel discounts for even more savings.

In addition, some cards let you redeem your points directly through partner programs such as airlines or online retailers to get the most out of what you’ve earned. Families can also share points, making it easier to centralize rewards and boost redemption opportunities.

Travel perks that go with you

Many consumers pick premium credit cards because they outshine other cards in travel rewards that can save hundreds and even thousands of dollars every year.

• VIP airport lounge access for you and your family, including refreshments, free Wi-Fi and a comfortable spot to wait for your flight.
• Travel protections like trip cancellation/interruption coverage, baggage insurance, reimbursement for delays and even emergency evacuation coverage.
• Reductions or elimination of fees on foreign transactions.
• Reimbursement of application fees for TSA PreCheck®, Global Entry or CLEAR.
• Hotel and rental car upgrades.

Features for your whole family

Premium cards aren’t just for business or travel; they can deliver benefits that you and your family can use at home as well for consistent value all year long.

• Exclusive access to pre-sale tickets, private events and luxury experiences not available to the general public.
• Personal concierge help for shopping, vacation planning and more.
• Everyday services like Uber or Lyft, or even streaming subscriptions.

Protections on everyday purchases

Security is a top feature of premium cards. They also come with extra safeguards for your everyday purchases.

• Extended warranties, return protection and theft/damage coverage.
• Fraud protections such as zero-liability, identity theft monitoring and support, real-time fraud alerts and virtual card numbers for safer online shopping.
• Concierge services that can get you VIP access and enhanced experiences at concerts, sporting events and luxury experiences.

Putting premium cards in the proper perspective—for you

Like any other kind of credit, you should carefully consider if a premium card aligns with your financial management style and goals. Do you travel frequently, spend significantly on dining or groceries or have a credit score of 720 or higher? Do you think you can fully use the benefits the card offers?

If not, you might want to consider a mid-tier card instead; you can still get a good selection of benefits that match the way you spend but at a lower annual fee that balances out the expense.

Get the most out of your premium card

If you’re confident that a premium card is perfect for your situation, here are a few tips to keep in mind to make sure to get maximum value out of it:

• Use every annual credit that’s offered.
• Redeem points directly from the card’s partner websites.
• Add authorized users to share your perks.
• Set alerts to monitor offers and spending.
• Use concierge services for maximum convenience.

Premium credit cards deliver far more than status. When used the right way, they offer real value through rewards, travel perks, protections and other top-tier bonuses.

Whether you travel often on business or with your whole family or appreciate better protection for your purchases and your personal finances, a premium card can be a smart financial choice, both for your bank account and your overall personal security.

Ultimately, research is key. Make sure you’re getting benefits that are both tangible and long-lasting—carefully and honestly evaluate your needs, compare the options that are out there and choose the card that aligns best with your financial situation.