Bank Of America Premium Rewards Credit Card
As the lone Bank of America card on our list, the Bank of America Premium Rewards card packs a punch, with a sign-up bonus worth 50,000 points . It also includes an up to $100 annual airline incidental fee statement credit, meaning you come out ahead every year you keep the card open after paying the $95 annual fee.
Points can be redeemed for travel, cash back or even a cash deposit into a linked Bank of America or Merrill account. The card earns 1.5 points per dollar on non-bonus spending and 2 points per dollar on travel and dining, which means this is a decent but not exceptional card for everyday purchases. However, the card becomes more attractive when combined with Bank of Americas Preferred Rewards program.
To significantly increase the value of your spending return, youll need an eligible Bank of America checking account with an average daily balance of at least $20,000. The largest bonus is available to customers with a balance of $100,000 or more at that level, youll earn 3.5 points per dollar spent on dining and travel, and an impressive 2.62 points per dollar spent on non-bonus spending.
Read the Bank of America Premium Rewards review for more details.
Annual Fee Vs No Annual Fee
An annual fee is a fee you pay each year for having a credit card, and it typically appears as a charge on your card when you reach your account anniversary. Annual fees typically range from less than $100 to $550 or more for luxury cards. Cards with high annual fees generally offer robust perks and benefits designed to offset the annual fee. For example, some luxury travel cards offer a $200 to $300 travel credit that will cancel out some of your annual travel costs. If you prefer not to pay to own a credit card, there are plenty of cards that don’t charge an annual fee.
What Is The Best Credit Card
The best credit card is the one that rewards your personal spending habits in a way that makes sense for your redemption preferences. Look for cards that offer bonus points in categories you spend heavily in, such as dining, gas or groceries. Then, make sure the type of rewards youre earning lines up with your lifestyle. Travel rewards are popular, but cash back can make more sense for many customers.
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Bank Of Dubai First Royale Mastercard
Undoubtedly the most ostentatious of all prestige cards, the Dubai First Royale Card is trimmed in gold, with a diamond set in its center.
As you might expect, this card comes with no preset spending limit and is obviously intended for people who dont need to worry about interest rates or annual fees.
As for the cards perks, the bank simply states that its round-the-clock team attempts to meet the cardholders requests, no matter what they are. Nice.
How To Get Approved For A Credit Card For Excellent Credit
Want to get a credit card now? Follow this advice to boost your chances of getting approved for a credit card for excellent credit.
- Check your FICO Score before you apply. Credit scores can go up and down from month to month based on various factors, so it’s smart to check yours to make sure it falls in the range classified as “excellent.”
- If your score falls short of the required rating, one option is to choose a different card.
- If you have your heart set on a particular card that requires excellent credit, but your credit rating falls a bit short, take a little time to improve your score before you apply. The steps will depend on your situation, but something as simple as paying down a balance on another card may boost your score significantly.
- If your score is just barely in the range needed, you may want to consider applying in person at the bank. A banker may help to advocate for you to get approved for a card, especially if you have a relationship with the bank.
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Best Perks For Dining Out And Ordering In: Amex Gold
- Earn 100,000 bonus miles.
- Earn 4 miles per $1 spent on United® purchases including tickets, Economy Plus, inflight food, beverages and Wi-Fi, and other United charges.
- Earn 2 miles per $1 spent on all other travel
- Earn 2 miles per $1 spent on dining including eligible delivery services
- Earn 1 mile per $1 spent on all other purchases
- Up to $100 Global Entry or TSA PreCheck® fee credit
- Free first and second checked bags – a savings of up to $320 per roundtrip. Terms Apply
- 25% back as a statement credit on purchases of food, beverages and Wi-Fi on board United-operated flights when you pay with your Club Infinite Card.
The Blue Business Plus Credit Card From American Express: Best For Everyday Business Expenses
Welcome offer: Earn 15,000 points after spending $3,000 in eligible purchases in the first three months of card membership.
Earning rate: Earn 2 points per dollar spent on up to $50,000 in purchases per calendar year, then 1 point per dollar.
Annual fee: $0 .
Why we chose it: Earning 2 points on all purchases is the best flat earning rate for business expenses on the market today, especially from a card that doesnt charge an annual fee. It means you dont have to juggle bonus categories and its perfect for business owners with smaller annual budgets.
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Capital One Venture Rewards Credit Card
Long before the Capital One Venture began adding hotel and airline transfer partners, the card was a fan favorite , thanks to a strong earning rate of 2 miles per dollar on all purchases. While you can still redeem miles at a fixed rate of 1 cent each to eliminated eligible purchases made in the last 90 days, you also have the option to transfer them to some truly exceptional frequent flyer programs including Avianca LifeMiles, Air Canada Aeroplan, Flying Blue and more to unlock outsized value.
Read our review of the Capital One Venture card for more details.
Official application link: Capital One Venture.
The Worlds Most Exclusive Credit Cards
Linsey Knerl is a finance author and public speaker with a passion for helping everyday families earn more and live better. Her work can be seen in Investopedia, PC Mag, The Christian Science Monitor, TIME, Wise Bread, Next Avenue, MSN Money, and numerous other leading outlets. Her expertise lies in business economics, credit scores and reports, and saving and budgeting. Linsey has shared her financial knowledge with audiences at SXSW, FinCon, and the ASJA annual NYC convention.
Edited by: Lillian Guevara-Castro
Lillian brings more than 30 years of editing and journalism experience. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct instructor at the University of Florida. Today, she edits all CardRates content for clarity, accuracy, and reader engagement.
While there may be a few credit cards reserved exclusively for the most elite leaders and business people, in reality, some of the best credit cards around are available to the average consumer with the right credit score.
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Other Prestigious Cards From Around The World
While the five cards above top the list for prestige, the following cards also deserve a mention for their exclusive, luxury offerings.
Eurasian Diamond Card
This striking black card from Kazakstan features a pure gold inlaid heart with a .02-carat diamond centrepiece, and can only be obtained by recommendation of the bank’s management board, or upon referral of two existing Diamond cardholders. You must also make more than US$300,000 a year to qualify.
Annual card fees range between KZT150,000 and KZT450,000 , depending on the size of your current bank balance. Perks include personalised concierge services, VIP airport lounge and Priority Pass access, as well as super-charged Visa exclusives such as hotel discounts, ticket pre-sales, luxury dining, spa offers and purchase protection from loss and theft.
Stratus Rewards Visa
Also known as the White Card, the Stratus Rewards Visa is often seen as the definitive card for elite jetsetters with a rewards program that offers private jet flight-time as a redeemable reward. If you like, you could also trade your reward points in for a personal consult with a famed lifestyle expert.
The Merrill Lynch Octave Black Card
Lucky cardholders pay US$950 in annual fees and enjoy perks including no pre-set credit limit, 2.5 rewards points per $1 spent on all eligible purchases, an annual US$350 worth of travel credit or a Delta SkyClub Executive membership, select airline and private jet flight discounts, and premium concierge services.
Centurion Card From American Express
- Annual fee:$5,000 plus an initiation fee of $10,000
- Rewards:1x Membership Rewards points per dollar spent
- Invite Requirements: Reports say that you must charge at least $250,000 annually on your Amex card
Our list of the most exclusive credit cards starts with the famed Centurion Card from American Express. In 1999, American Express became the first U.S. credit card company to use exclusivity to draw in customers when it rolled out the Amex Black Card.
Part of its appeal is the mystery behind the card. This card isnt open to the public, and American Express has to reach out to you first to qualify. Its rumored that only those who spend at least $250,000 per year across all of their American Express accounts receive an invite to become Centurion Cardholders.
If invited, be prepared to pay a high premium to join this exclusive club. The initiation fee alone is $10,000, with a recurring annual fee of around $5,000, plus $5,000 for each additional Centurion Card you wish to add.
Cardholders get a wide range of benefits for those fees, including automatic hotel room and flight upgrades and discounts on cruises and luxury car rentals. Some airports even have luxurious lounges that are free for Centurion users. These are just some of the rumored perks. There are likely many other benefits youll find out about once you become a cardmember if youre ever invited.
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Dubai First Royale Mastercard
The Master Card from Dubai First Royale is a credit card that has been dubbed a millionaires best friend. Its a luxury card for the super-rich who can afford it. And it has the appearance to match.
The left-hand and to the edge of the card are gold-trimmed. And at the center is a white solitary diamond of .235-carat. Having a lot of wealth doesnt give you access to this card. You must also be invited to apply.
The costs associated with these cards include an initiation fee of 7,000 UAE Dirham and an interest rate of 2.59% per month. The annual fee, however, is unknown.
Dubai Royales credit card perks are rather interesting.
Barclays Visa Black Card
The Black Card from Barclays is made of stainless steel and it looks absolutely beautiful. But its extremely exclusive since you have to prove you have a huge income putting you in the 1% richest persons in your country, just to get one. To keep the Black Card you have to pay $500 each year, but with this card youll have access to the VIP Airport Lounges, a $250,000 travel insurance, premium hotel access, concierge service and other rewards.
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What Is Excellent Credit
Excellent credit is a within a range at the top of a credit-scoring model. A credit score is a number lenders use to assess how risky it is to lend you money, including approving you for a credit card.
There are different credit-scoring models from FICO and VantageScore. The scoring model from FICO 8 is most common and is the one used when you apply for a credit card. The top range of credit scores is referred to as “excellent” by VantageScore and “exceptional” by FICO. The next best category is good, followed by fair, poor and very poor. Below, we offer a breakdown of the VantageScore ranges that fall into each category.
In general, excellent credit means having a credit score in the very high 700s or higher, or in the 800s, depending on the scoring model. A credit score this high typically offers access to a variety of top credit cards for excellent credit.
FICO score ranges
Whats The Best Credit Card For You
Theres no such thing as a one-size-fits-all credit card, and the sheer number of options can make it difficult to choose a credit card thats best for your unique situation. When looking for a starting point in finding a card that could work best for you, its good to consider a card that matches your spending habits. Todays credit cards cover a lot of territory for different types of consumers with different financial goals, including:
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The 10 Most Exclusive Credit Cards In The World
The average citizens only use credit cards for purchases and savings, but the worlds elite have access to some exclusive credit cards that give them additional perks such as access to premium concert tickets, airline reward programs and many other benefits.
These prestigious credit cards are usually made from a very expensive material and you will probably need an invitation to get access to one of them, depending on your bank account. If youre struggling to make your credit card payments, consider refinancing to pay down debt. One option for this is using car title loans to consolidate. Lets take a look at the most exclusive credit cards throughout the globe right now.
Alternative Prestigious Credit Cards You Can Apply For In Canada
The alternative prestigious Canadian credit cards below offer a variety of premium features including concierge services, travel insurance coverage, complimentary companion flights, access to upgrades, experiences, discounts and tickets, shopping protection and much more and theyre easier to get than the invitation-only Amex Black Card.
The 6 best premium credit cards in Canada
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Credit Cards For The Super Rich
For people of average wealth, credit cards are ways to get by when money is tight, make additional purchases, or earn generic rewards. The super-rich, however, have access to cards that give them luxurious perks, helping them to further fund their extravagant lifestyles. Many of these exclusive credit cards come only through invitation or by achieving specific benchmarks.
What Credit Cards Can You Get With A 700 Credit Score
A 700 credit score is considered somewhere between good and excellent credit. Within this range you’d be a competitive applicant for credit cards that require good credit. If you’d like to improve your credit score in order to bolster your odds of nabbing a premium credit card, we recommend you check out our .
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Find A Rewards Structure That Meets Your Needs
Earning any type of rewards is better than nothing, but to get the most out of your credit card, youll want to ensure youre earning the most rewards you can on the types of purchases you make most often. Balancing this with a type of rewards you value and are easy to redeemcash back, miles or pointsis also important.
How Did We Choose These Cards
We compared features, fees, level of service, credit limits, and sign-up bonuses to narrow the list down to five cards. Credit limits are not often disclosed by the card issuers, so we searched the web to find cardholder comments and reviews to determine the range.
Not all credit cards are available to apply for unless you receive an invitation or referral by an existing cardmember. They’re still worth mentioning, since this guide is all about the most exclusive credit cards on the market right now.
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Capital One Venture X Rewards Credit Card: Best Luxury Card On A Budget
Why we picked it: The Capital One Venture X Rewards Credit Card offers many of the luxury perks other premium cards do with a reasonable annual fee of $395. That makes this a better choice for frequent travelers who are trying to keep credit card expenses as low as possible. New cardholders get to earn 10X miles on hotels and rental cars booked through Capital One, 5X miles on flights booked through Capital One and 2X miles on all other purchases. The new cardmember bonus is also worth 75,000 bonus miles when you spend $4,000 on purchases within the first three months.
- Lower annual fee than other exclusive credit cards
- $300 annual travel credit, up to $100 credit for expedited airport security membership and Priority Pass Select airport lounge membership
- Transfer points to over 15 Capital One travel partners
- Capital One transfer partners not as popular as some other flexible programs
- Best earning rates for purchases through Capital One
- Annual travel credit only for Capital One Travel purchases
Who should apply: Sign up for the Capital One Venture X Rewards Credit Card if you want to enjoy premium travel perks like airport lounge access with the lowest possible out-of-pocket cost.
Who should skip: Skip this card if you want access to better airline and hotel transfer partners. Also, consider other cards if you dont plan to spend a lot booking travel through the Capital One portal.