Means of payment are more and more digitalized nowadays: Paypal, Wechat Pay, Alipay, Apple Pay, Twint… But the old credit card still has an important role to play, especially when it comes to exclusive ones. Let me highlight why holding a premium credit card is a must-have for any frequent traveller or high-spending shopper.
American Express Platinum, Visa Infinite, World Elite Mastercard… A premium credit card is not only a mean of payment, it’s also a way to elevate and protect your daily-life.
High Level Of Protection
The very first advantage of a premium credit card is the insurance coverage. Easy refund for canceled or delayed flights, immediate money transfer for lost luggages, multi-million coverage for travel accident, complimentary insurance for rented cars… Not to mention the juridic assistance.
Moreover, most of these cards are also offering an after-purchase protection (up to 90 days) against theft and breakage. Definitely another interesting point to take into account!
Luxury Services And Benefits
Do you imagine having your own private concierge, available to answer your needs 24/7? This is exactly what a premium credit card provides, in a remote way (by phone or email). Booking a fancy restaurant, organizing a world tour, finding the latest game console soldout everywhere: a short list of examples.
On top of the concierge service, you will enjoy event invitations, special discounts for some brands or even free gifts thanks to a loyalty point program. Some of the luxury cards are also offering complimentary access to airport lounges (Priority Pass), and for a frequent traveler that’s a huge benefit.
Sign Of Recognition
I already explained my point of view about appearances and the feeling of belonging to a social group. Holding a premium credit card replies to this need. Paying the bill with a group of friends or colleagues, checking-in at the hotel, doing shopping in luxury stores: from the moment you show off your card, you are recognized as a member of the “elite”.
Which One To Choose
Selecting a premium credit card is highly dependent on your country. As I want this article to make sense for the largest audience possible, I am listing some generic categories of luxury cards. Then you have to ask your bank to check which ones are available for you, in your country.
Check out yearly cost and salary requirement!
Visa Infinite is the highest tier of Visa-branded premium credit cards—the other two being the Visa Gold and Visa Signature. Cards branded with this network have the best benefits of any card on the Visa network. In practice, however, these features and perks are often controlled by the card’s issuer—meaning the bank. Therefore, while you can learn more about everything Visa Infinite has to offer here, you should always double check with the bank issuing a particular credit card to see what benefits are actually included.
World Elite Mastercard
World Elite Mastercard comes with a complimentary 24/7 concierge service that acts like a relentless personal assistant. Enjoy the attractive additional services provided for your comfort: from comprehensive assistance services and insurance coverage to meet any kind of emergency while traveling to exclusive offers with premium brands and attractive benefits. Same remark as for the Visa card, I recommend to check with your bank what is the exact list of benefits that goes with that card.
American Express Platinum
The Platinum Card from American Express is designed for frequent travelers. New cardholders can earn a welcome bonus of Membership Rewards® Points (number depending on the country) and the card earns points on each purchase. It also comes with a long list of perks, including travel credits for airline incidentals and airport lounge access. On top of that, it provides access to a 24/7 conciergerie.
American Express Centurion
Also infamously known as the Black Card. To enter this exclusive club, you had to have been invited and you had to have spent and paid upwards of $250,000 in a single year. If you clear this hurdle, you then need to pay an initiation fee of $7,500 and you will pay an annual fee of $2,500. Once in you have; no spending limit, access to a personal concierge who can handle literally any request, access to luxury airport lounges, incredible gifts, and reservations at 1,000 of the world’s most renown restaurants.
* Average amounts across markets