Premium travel credit cards offer many benefits to cardholders, but do you know them all? Learn more about the hidden perks of these cards in our guide.
Travel credit cards are a type of rewards card that provide cardholders with the ability to earn points and miles. Those cardholders can then use those points and miles to help offset the cost of their travel. In addition to offering bonus points on travel bookings and different redemption options, travel credit cards often have other benefits as well. Premium travel credit cards, which are those that require an annual fee, are typically filled with extra perks and privileges that add value to the card.
Credit card travel benefits can help travelers spend less on travel expenses, but they can also make the travel experience itself more pleasant. A credit card with travel benefits can get you to the front of the line when checking in or boarding a flight. It can also help you save on in-flight and resort purchases, provide access to exclusive cardholder perks, and protect your trip with various insurances and emergency assistance.
If you’re considering getting a premium travel credit card, looking at the lesser-known perks and the card’s main features may help you narrow down the list of options.
Premium credit cards with travel benefits
Premium travel credit cards are usually the highest tier of credit cards, sometimes referred to as elite credit cards or luxury travel credit cards. In the case where an issuer may have two or more versions of a card, the premium card is the one that has the highest annual fee but also better benefits and rewards.
Premium cards share a few common characteristics that make them stand out.
Higher annual fee
If a card has more premium features than other cards, it will typically also have a higher annual fee. This higher cost helps cover the suite of benefits and the higher level of rewards offered to cardholders. In general, premium credit cards with travel benefits are designed for people with very healthy credit who frequently travel and do a lot of spending.
Bigger rewards and bonuses
To balance the typically higher annual fees on premium travel cards, credit card issuers like to provide both up-front and long-term value to attract and retain customers. That’s why it’s likely that you’ll find larger welcome bonuses, high reward earning rates, and annual savings with premium-level cards.
More stringent credit requirements
Premium travel credit cards are geared toward big spenders, so applicants usually need to have good or excellent credit scores to qualify for the cards’ higher credit limits. People who are newly establishing credit or who have had recent struggles with their credit may not qualify.
Benefit-loaded
Premium travel credit cards usually have additional perks and benefits that set them apart from lower-tier or no-annual-fee travel credit cards. The extra perks may help to justify the higher annual fee. Benefits can range from complimentary travel insurance and extended warranty protection to exclusive airport lounge access and luxury hotel amenities.
What are some lesser-known benefits to premium travel cards?
Premium credit cards with travel benefits usually have a slew of features that help create VIP travel experiences, reduce costs, and protect you as a consumer.
These perks may include travel insurance, general purchase protection, cell phone protection, travel concierge service, and airport lounge access. Some premium travel credit cards also carry luxury hotel benefits and upgrades, in-flight discounts, annual travel credits, airline fee credits, and more.
There are different subcategories of premium travel cards, so the type of card you choose may determine the collection of benefits offered.
General travel rewards cards: These types of cards offer flexible redemption options and usually package together a mix of airline- and hotel-geared benefits. Many have several points transfer options.
Airline cards: Premium co-branded airline credit cards are for frequent flyers who are loyal to a specific airline. While there may be general travel perks, many of the features will center on the flight experience. Some airline cards offer annual companion passes, free checked bags, or a faster track toward reaching higher status levels in the airline’s loyalty program.
Hotel cards: Like their airline card counterparts, premium hotel credit cards help travelers who prefer staying with one hotel chain enjoy an upgraded experience. Benefits may include late checkout, free on-site amenities, better Wi-Fi, and higher-tier status in the hotel’s loyalty program.
No matter which type of premium credit card with travel benefits you have, paying attention to the terms and conditions may help you get the most out of the card’s benefits. For instance, you may have to opt in or activate certain benefits while others may be automatic.
Some cards offer annual credits or perks that you may lose if you don’t use them. Consider reading over your card’s guide to benefits, looking for new offers in your card account or app, or calling your card issuer to stay on top of new offers as they become available to you.
When researching premium travel credit cards, here are some common benefits you may discover.
Luggage protection
Lost or delayed luggage can quickly put a damper on your trip, but premium travel credit cards that offer luggage protection can at least offer some peace of mind. Luggage protection usually covers lost or stolen luggage, as well as baggage delays. This benefit can reimburse you for items you need to replace due to lost or delayed baggage. Coverage limits apply, and claim eligibility varies by card.
Travel insurance
Premium credit cards with travel benefits usually offer a couple of different ways to protect your trip, if you pay for the entire trip with your card. First is trip cancellation insurance, which lets you recoup the non-refundable portion of travel expenses if you need to cancel due to illness or other covered emergencies. The other type is trip accident insurance, which pays out a benefit in case of accidental death or dismemberment while you’re traveling. Details about these benefits are included in your card’s guide to benefits.
Airport lounge admission
Having a comfortable place to relax, freshen up, or grab a bite to eat while you wait for a flight can make travel a much more pleasant experience. Airport lounges offer all sorts of amenities, but they’re usually exclusive to paying club members or, in many cases, premium credit cardholders. If you have a premium card for a specific airline, you may have access to that airline’s lounge, while non-airline specific premium travel credit cards may grant access to a selection of participating lounges.
Hotel/Resort amenities
Premium hotel credit cards are more likely to offer cardholders exclusive hotel amenities, perks, and upgrades. However, you may find similar benefits on other types of premium travel cards. Benefits may include a resort statement credit, complimentary breakfast or snacks, early check-in and late checkout, and room upgrades.
Higher levels of customer service
Premium credit cards with travel benefits usually offer specialized customer service features. From travel concierge service to emergency travel assistance, you may find it valuable to know you can pick up the phone and get help to plan your trip or deal with an unexpected issue while you’re traveling.
Additional travel savings
It’s not uncommon for premium travel cards to offer annual travel credits, though the details will vary by card. With these credits, the cardholder gets back a certain amount of money after reaching a certain spending threshold. Another benefit found on premium cards is no foreign transaction fees, which saves you an extra expense when you travel and spend abroad. Some cards also offer a Global Entry/TSA PreCheck credit when you pay for membership with the card. This can help expedite your airline check-in process.
Partner discounts and credits
Premium travel credit cards sometimes partner with various companies to bring you exclusive discounts and deals. For example, you may receive statement credits when you use a certain rental car company or rideshare service, shop with specific retailers, or subscribe to a particular streaming or delivery service.
Pathway to elite travel status
Frequent travelers who are members of airline, hotel, or car rental loyalty programs can earn even more exclusive benefits and savings if they reach higher status levels. Premium credit cards can sometimes help fast-track cardholders through such program tiers. In some cases, the premium credit card with travel benefits may grant you automatic status. In other cases, such as with airline cards, you may get a boost of qualifying dollars or miles to help you level up.
Are premium credit cards worth it?
If you spend a lot on travel and use credit responsibly, premium travel credit cards can offer a lot of value for cardholders. Card issuers usually promote certain card features like big rewards bonuses, but often it’s the hidden perks that collectively make these cards more valuable and worth the annual fee.
Conclusion
Premium travel credit cards offer additional rewards, perks, and benefits that provide cost reductions and major convenience for people who travel often. If you’re a frequent traveler, you may want to consider one of these cards to gain access to travel lounges, higher-tier customer service, exclusive access to hotel amenities, and added insurance and travel protection, plus bigger rewards.
