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If you’re a frequent traveler and like to take advantage of great perks and benefits, the American Express Centurion Card is probably on your radar. It’s no exaggeration to say the Black Card from Amex is the most exclusive credit card on the market — and most people are not eligible.
Luckily, you don’t need a Black Card (or its astronomical price) to score premium access and great savings on your future travel.
Related: Best travel credit cards
Amex Centurion Card details
First things first: Most people aren’t going to qualify for the ultra-exclusive, invite-only Amex Black Card.
Amex doesn’t disclose the criteria (like annual spending) it considers before offering an invitation to apply for the Centurion Card, but there is plenty of speculation online. Some reports say you’ll need to spend between $250,000 and $1 million per year across your American Express card accounts.
Even if you can score an invite, the Black Card still has some pretty high barriers to entry in the form of fees. There is both an initiation fee of $10,000 after you sign up and an ongoing annual fee of $5,000.
Unlike most premium rewards credit cards, the Amex Centurion Card doesn’t have a big welcome bonus. It’s also lacking in bonus rewards; you’ll get just 1 point per dollar on every purchase. Instead, the card’s real value comes from its ample benefits.
Those include automatic elite status with several travel loyalty programs, Amex Global Lounge Collection access, VIP airport arrival and departure services, and 24/7 concierge service. In addition to travel benefits, you’ll get access to exclusive experiences and perks for Centurion members, credits for purchases with SoulCycle and Saks, Equinox membership, and much more.
But to get valuable perks like these, you don’t necessarily need to be a Centurion cardholder. Plenty of the top premium credit cards today offer luxury travel benefits and exclusive perks for cardholders — no invite necessary.
What to look for in a premium rewards card
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Welcome bonus offer: One of the best perks of opening a new credit card with a high annual fee is the subsequently high welcome bonus. You can score hundreds or even thousands of dollars in value when you earn a welcome bonus with these cards. In exchange, you’ll likely need to spend a significant amount of money on your card within the first few months of account opening — so make sure the spending threshold is within your budget before you apply. And remember to look at all the other card details too: A welcome bonus can add amazing first-year value, but it won’t increase your return in the long run.
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Rewards rate: With most premium rewards cards, you’ll earn the most bonus points or miles on travel spending. Search for bonus rewards that best fit how you like to travel — if you have a preferred airline, for example, you probably want a card that earns airline miles or allows you to transfer your points to the airline’s loyalty program. You may also get boosted rewards on some non-travel purchases, like dining, which can be a great way to increase your earnings no matter where you are.
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Benefits: Most premium credit cards are flush with great benefits — which can sometimes be even more valuable than the potential rewards. These might include airport lounge access, upgrades and discounts on select hotel bookings, complimentary access to events and experiences for cardholders, rental car perks, concierge services, and more. Evaluate all of your benefits before you choose a premium travel rewards card to find the one that can best help you recoup your annual fee cost year after year.
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Annual credits: On top of benefits, annual credits are a great way to offset the high annual fees you’ll pay for premium rewards cards. Credits might cover airline incidental fees, fees for airport security programs like TSA PreCheck or Global Entry, general travel purchases, purchases with partner retailers, and more. Look for a card that offers credits on things you already purchase and have in your budget to get the best value.
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Travel and purchase protections: Travel and purchase protections may not be the most exciting perks of a luxury rewards card, but they can be some of the most valuable. These include purchase protection and extended warranty against damage or theft, as well as travel insurance protections in case of unexpected trip cancellations, delays, lost luggage, and more.
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Elite status: Both general travel cards and co-branded airline or hotel cards may offer complimentary elite status with certain travel brands. Take advantage of these status benefits to boost your rewards earnings when you book a flight or a stay, get priority boarding or early check-in privileges, and access more conveniences to make your travel less of a hassle.
Read more: The complete list of credit card perks that reset each calendar year
Best credit cards for rewards and luxury benefits
These are our picks for the best premium rewards credit cards available now.
Keep in mind, even if they’re not invite-only, you’ll still need to meet some criteria to qualify for these cards. Make sure you have a solid credit history and excellent credit score before you apply for the best chances of being approved.
The Platinum Card® from American Express
- Annual fee$695
- Welcome offerEarn 80,000 Membership Rewards® Points after spending $8,000 in the first 6 months
- Rewards rate
- 5x points for flights booked directly with airlines or with American Express Travel (up to $500,000 per year)
- 5x points on prepaid hotels booked with American Express Travel
- 1x points on all other purchases
- Benefits
- Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel (requires a minimum two-night stay)
- Get up to $199 back per calendar year on your CLEAR Plus membership (subject to auto-renewal) when you use your card (CLEARLanes are available at 100+ airports, stadiums, and entertainment venues)
- Enjoy up to $200 in Uber savings annually on rides in the U.S. — that's $15 in Uber Cash for rides each month, plus a bonus $20 in December (you must have the latest version of the Uber App downloaded and your eligible American Express Platinum Card must be a method of payment in your Uber account; Amex benefit may only be used in United States)
Why we like it: The American Express Platinum Card is the priciest option on our list, but it offers more than enough potential value between rewards and benefits to help make up the cost for frequent travelers and big spenders. This card isn’t for everyone, especially given its price tag. But for very frequent travelers who want access to luxury perks and experiences, the Amex Platinum can hold its own, even against the Centurion.
Taking advantage of all the benefits is how you can best maximize this card. You’ll get access to the Global Lounge Collection (including Centurion lounges), credits and add-ons during your stays at Fine Hotels & Resorts booked through American Express Travel, elite status with Marriott Bonvoy and Hilton Honors, concierge service, and Global Dining Access by Resy for hard-to-get reservations, to name just a few. The Amex Platinum also has plenty of annual credits, including up to $200 in statement credits for eligible prepaid hotel bookings through Amex Travel, up to $200 in statement credits for airline incidental fees charged by your chosen airline, up to $199 in statement credits for CLEAR Plus membership, and many more.
Read our full review of The Platinum Card from American Express.
Chase Sapphire Reserve®
- Annual fee$550
- Welcome offerEarn 60,000 bonus points after spending $5,000 in the first 3 months
- Rewards rate
- 10x points on hotels and rental cars purchased through Chase Travel℠*
- 5x points on flights purchased through Chase Travel*
- 3x points on dining and other travel purchases
- 1x points on all other purchases
- *After the first $300 is spent on travel purchases annually
- Benefits
- Points are worth 50% more when you redeem through Chase Travel
- Earn up to $300 in annual statement credits for travel purchases
- Receive up to a $120 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck, or NEXUS
Why we like it: The Chase Sapphire Reserve has a lot to offer frequent travelers, and one of its best features is a flexible $300 annual travel credit you can use toward any travel purchases you charge to your card. The credit applies to the first $300 you spend on travel each anniversary year; after that, you’ll start earning the card’s regular rewards rates on eligible travel spending. Another major perk of this card is its wide-ranging airport lounge access, including Chase Sapphire Lounge by The Club locations and Priority Pass Select (after enrollment).
When you’re ready to redeem the points you earn with your Chase Sapphire Reserve, you’ll get another big value boost. Points are worth 50% more when you use them toward travel purchases in the Chase Travel℠ portal — for a total 1.5 cents per point redemption rate. You can also choose to transfer points to Chase’s airline and hotel partners for another potentially high-value redemption.
Read our full review of the Chase Sapphire Reserve.
Capital One Venture X Rewards Credit Card
- Annual fee$395
- Welcome offerEarn 75,000 miles after spending $4,000 on purchases in the first 3 months
- Rewards rate
- 10x miles on hotels and rental cars booked through Capital One Travel
- 5x miles on flights and vacation rentals booked through Capital One Travel
- 2x miles on all other purchases
- Benefits
- $300 annual credit for travel bookings through Capital One Travel
- 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
- Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks
Why we like it: The Capital One Venture X Rewards Credit Card is a great option if you can use the Capital One Travel portal to book and redeem the majority of your travel. Not only does it start with a slightly lower annual fee than other cards on our list, it also offers a $300 annual travel credit to make up the majority of that cost. You’ll earn the credit for travel bookings through Capital One Travel. Earning miles rewards with this card is also easy, with a flat 2x rewards rate on everything (except for the boosted rewards you’ll get on eligible purchases with Capital One Travel).
Airport lounge access via both Capital One Lounges and Priority Pass is a major Capital One Venture X perk for frequent travelers, and you can maintain your value long-term with 10,000 bonus miles each account anniversary — worth another $100 in travel annually.
Read our full review of the Capital One Venture X Rewards Credit Card.
Bank of America® Premium Rewards® Elite Credit Card
- Annual fee$550
- Welcome offer75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening
- Rewards rate
- 2x points on travel and dining
- 1.5x points on all other eligible purchases
- Bank of America Preferred Rewards® members can earn 25%-75% more points on every purchase
- Benefits
- Up to $120 in statement credits for either Global Entry or TSA PreCheck® application fees every four years
- Save 20% on domestic or international airfare for any class when you pay with points
- Up to $300 in annual statement credits for airline incidental fees for qualifying purchases like seat upgrades, baggage fees, and more
Why we like it: With the Bank of America Premium Rewards Elite card’s simple rewards structure, you’ll get 2x points on both travel and dining purchases and a flat 1.5x on everything else. To help make up the annual fee cost, there’s a $300 annual credit for airline incidental fees and up to $150 in annual credits for eligible lifestyle spending, including streaming services, food delivery, rideshares, and more.
You can really gain exceptional value from this card as a Preferred Rewards member, though. With a minimum combined average daily balance in an eligible Bank of America or Merrill account, you can increase your rewards earnings by 25%, 50%, or 75%. As a Platinum Honors Tier or Diamond Tier member with at least $100,000 across eligible accounts, for example, you can earn 3.5x points on travel and dining purchases and 2.62x points on all other purchases with your Bank of America Premium Rewards Elite card.
Luxury airline and hotel credit cards
While the cards above are fantastic travel credit cards with flexible rewards, there are also plenty of premium credit cards from popular airline and hotel loyalty programs. These are some to consider if you’re a frequent traveler and loyal to a specific airline or hotel chain.
Premium airline credit cards
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Citi® / AAdvantage® Executive World Elite Mastercard®
Premium hotel credit cards
This article was edited by Rebecca McCracken
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
