Best premium credit cards – We review and rate the top luxury credit cards. Find out which ones are worth the annual fee and which ones aren't.

American Express Platinum Card welcome kit

Are you fed up with calling up your credit card customer service, only to wait on hold so you can speak to some customer service rep in India? Or maybe you’re just disappointed with the lack of benefits your card offers. Credit cards can be frustrating, but they don’t have to be… in fact, with premium credit cards, prepare to be pampered instead.

What can the best premium credit cards do for you?
Many people won’t even consider applying for high end credit cards because they don’t like the idea of paying an annual fee. However the truth of the matter is that if you’re upper middle class and can qualify, luxury credit cards will pay for themselves many times over. Just take a look at a few of the perks some of the top ones offer:
First Class Airport Lounge Access
Let’s face it, today traveling is a nightmare. Airports are one of the most stressful and congested places to be. However if you have a premium credit card in your wallet or purse, you can get free access to the first class airport lounges. Here you will find plush, comfortable seating, free wine and hor'dourves, plus a wide array of other benefits. Normally to gain access you either need a first class ticket or be willing to pay $50 to $80 per person, per visit. Many premium credit cards include unlimited complimentary access.
Personal Concierge Service
Odds are that between your work and personal life, things are always busy. Wouldn’t it be great to have a personal concierge service? From hunting down and buying hard to find gifts, booking reservations, and more… a personal concierge will save you time. There are a few luxury credit cards that include this service for free.

Luxury Gifts
Imagine receiving complimentary Chanel handbag or other luxury gifts throughout the year just for being a cardmember? Centurion cardmembers are rumored to be given free gifts.

Travel Insurance
Normal credit cards don’t really offer much in terms of insurance, however premium credit cards have you covered. Both American Express Centurion and Platinum offer a wide array of travel related insurances free of charge; collision/theft for eligible car rentals, lost or delayed luggage, trip interruption/cancellation, and even $250,000 in travel accident coverage.

Protecting Your Purchases
Both of the aforementioned premium credit cards also will double the manufacturer warranties, by up to one full year, on your eligible purchases for absolutely free. This is especially useful for purchases like computers and electronics which seem to go bad soon after their one year manufacturer warranty is up. If your eligible purchase is stolen, lost, or accidentally damaged within the first 90 days, they will also reimburse you up to a certain amount (usually a few hundred dollars).
Luxury credit card comparison:
Doing a premium credit card comparison is pretty simple since there are so few on the market. Many of their benefits are very similar and we've already discussed some, so let’s compare their annual fees:
American Express Centurion: $5,000 initiation fee + $2,500 annual fee
Citi Chairman Card: $500 annual fee
Visa Black Card: $495 annual fee
Bank of America Accolades: $295 annual fee
American Express Platinum: $450 annual fee
Which is the best premium credit card?
The AmEx Centurion was the first, but to be honest, they’ve gotten too big for their own good. For example, the annual fee was a $1,000 and today it is $7,500 for the first year between the initiation and annual fee… this card is no longer worth it.

The Citi Chairman has failed miserably to catch on, and there have even been rumors of the card being pulled from the market because of it. It's a stretch to put the B of A Accolades in this category, because the benefits and customer service aren't what you would call top notch.

The AmEx Platinum is clearly the superior choice. In fact, there's a Centurion member I know that recently switched to the Platinum because he's basically getting the same benefits, but for only a fraction of the cost. Check our our sponsored review and the special signup bonus we have for the American Express Platinum credit card.