Premium rewards cards that offer premium value go beyond an annual fee. Finding the right credit card is not easy.
The top-tier cards offer valuable benefits such as airport lounge access, high reward rates, and valuable benefits. It can be difficult to navigate the card’s entire list of features. It’s sometimes difficult to determine if a high annual cost is worth it.
These cards can be very useful tools for your wallet if you are able to use them correctly. It is all about matching your spending habits, especially when it comes to travel, to the benefits of a card.
Here are six rewards cards that you should know about and how to get the most value for your money.
Gold Card(r), American Express : Loaded with Benefits
The Platinum Card(r), from American Express, offers enough value to justify the $695 annual cost.
Be aware that the spending credits can often be tied to certain brands or types of purchases. You’ll need to ensure you get enough use of the Platinum Cards(r) by American Express.
Chase Sapphire Reserve (r): Flexibility, variety
Chase Sapphire Reserve(r), which is perhaps the most valuable premium rewards card, offers an $300 credit each year that can be used to make travel purchases of any type.
This means that you can pay more than half of the $550 annual fee by booking a standard flight, hotel stay, or using a few rideshares or cabs. The card also comes with some strong travel benefits like access to airport lounges and other spending credits that can be used to pay the remainder of the fee.
You will need to align your spending with the bonus categories to unlock this card’s full potential. Then, redeem your points through Chase Ultimate Rewards(r), or transfer your points into one of Chase’s partner airlines or hotels.
Capital One Venture X rewards Credit Card – Practical, but premium perks
The Capital One Venture X rewards Credit Card provides clear value for the 395 annual cost — its two most valuable benefits more than make up that amount.
- $300 travel credit for bookings through Capital One Travel portal
- 10,000 bonus mile each year on your account anniversary (worth at minimum $100 when used for travel)
It’s easy for you to see the practical benefits of this card when you consider its base rewards rate, which is two miles per $1, and all of the premium travel perks.
American Express(r), Gold Card : Rewarding for restaurants
Although the American Express(r), Gold Card does not offer as many perks, it is arguably the best card for those who spend a lot of money on food delivery or restaurant dining.
These two credits can be used for food delivery and other eligible purchases. They can also earn you up to $240 per annum via monthly statement credits, which is just short of the $250 annually fee.
You will also receive a rewards rate that is four points for every $1 you spend at restaurants around the world (and takeout and delivery in America), and four points for every $1 you spend at U.S. grocery stores when cooking at home.
Capital One venture Rewards Credit Card Straightforward rewards
The Capital One Venture Rewards Card offers simplicity, despite all the benefits and perks of premium cards.
For every $1 you spend, you’ll get two miles. You can also opt for statement credits to pay for any travel purchases if you don’t want to redeem your Capital One miles directly. It’s easy to get travel rewards.
The card has some nice perks and benefits. However, the annual fee of $95 is unlikely to be covered by the card alone. You will need to spend and redeem frequently enough to earn value for this $95 fee.
Chase Sapphire Preferred(r) Card: Entry-level travel optimization
The Chase Sapphire Preferred(r), Card is a great option for those who are willing to work hard. It costs $95 annually.
The Chase Ultimate Rewards portal allows for flexible spending and a variety of bonus categories, making it a highly sought-after card. The Chase Sapphire Preferred is a bit smaller and doesn’t offer as many benefits or credits. It’s important to make the most of your points to maximize their value.
The bottom line is that the lower price comes with more effort.