Every single day, hundreds of credit cards compete for your business. All from different banks and credit unions. All of them want your business because almost everyone uses credit cards to pay for services today.
With that, credit card issuers have devised major incentives to get more users interested in their products. These are what you usually see being referred to as credit card perks. Perks range from lifestyle privileges to travel rewards and, sometimes, cash back.
When it comes to elite cards, in many cases you have to be invited to apply. Because these cards cater to the wealthy in society, they mainly offer various lifestyle perks. Here are some of the perks you should expect to get from elite cards.
Elite Cards Available On the Market Today
Elite credit cards are usually offered by banks, and you have to meet certain spending habits to be invited. Some cards also come from investment firms, however, the elite credit cards from these firms are only offered to their top tier clientele.
Below are some of the premium credit cards on the market today.
- Chase Sapphire Reserve
- Stratus Rewards Visa Card
- Dubai First Royale MasterCard
- J.P. Morgan Reserve Card
- Citi Bank Ultima Infinite
- American Express Centurion® Credit Card (Black Card)
Top Perks of Elite Credit Cards
Most of these cards hold fees that range from $500 and above. This means that the incentives or perks to use the cards must also be high in order to justifying using it. And this is usually the case.
Below are the perks you should look out for in these elite cards.
Signup Bonus
Credit card issuers love new customers and they typically offer generous signup bonuses.
You usually get points, miles and even fee waivers in the first year. Imagine a card offering you up to 60,000 points or more as a signup bonus. These points are usually converted into miles or dollar rewards. And with elite cards, these offers are plentiful.
Concierge Services
One of the main benefits of having an elite credit card is that most of them come with concierge services. They will tend to your every need and ensure your comfort. Your concierge can get a hold of anything you want, such as last-minute tickets to the Grammy’s.
Travel Credits
One of the main reasons why these elite cards are in a class of their own is the travel credits they offer. With amounts as high as $300 in travel credits annually, you start seeing exactly why these cards are elite. These travel credits are typically on top of the points you also earn and can use to travel as well.
Airport Lounges
When you hear of lifestyle privilege perks, you obviously expect to have airport lounge access. And, you wouldn’t be wrong to assume you’ll get just that with these elite cards. They too offer airport lounge access as part of their perks. Most of the elite cards offer you access to over 1,500 airports worldwide.
This will certainly ensure your travels are smooth. While other cards may offer only a couple of uses annually, elite cards typically offer more than six.
Hotel Room Upgrades
Hotel room upgrades are a huge part of cards today. You can easily upgrade to an even better room when you have one of the elite cards. It’s also part of the lifestyle privileges that these elite cards come with.
Conclusion
Considering the kind of fees that are charged on an elite credit card, they have to offer some of the best perks on the market. They are not just elite in terms of fees, but with their perks as well.
Disclaimer: All credit products carry risk. Be aware of these risks by reading the associated terms and conditions.