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Premium credit cards are offered by banks to high net worth individuals and also to their old loyal customers. These credit cards offer exclusive and luxurious benefits unlike any other regular credit card. Although the joining fee as well as the annual fee of these credit cards is skyrocketing, theyprovide you with the best privileges, including premium travel reward programs with elite hotel groups, free access to airport lounges, airport VIP facilitation, free golf sessions and many more.
Let us have a closer look at most popular premium credit cards and analyse their features so that you can choose the best credit card for you:
Best premium credit cards for high net worth individuals
1) HDFC Infinia metal credit card
Joining fee:Rs.12,500 + taxes
Annual fee:Rs. 12,500 + taxes
Key features:
Unlimited lounge access:Free unlimited access to priority pass domestic and international lounges.
Low forex mark-up:Foreign currency transactions attract an additional charge of 2% (plus GST).
Golf sessions: Free unlimited golf session at select courses in India and other countries.
Welcome benefit:Complementary Club Marriott membership for one year that comes with dining and stay at any hotel part of Marriott Bonvoy at 20% discount.
Reward points:
- 5 points equal Rs.150 on transactions, except fuel.
- Get 10X points on all travel and shopping through HDFC SmartBuy.
Dining perks:Membership of the Good Food Trail Dining Program which gives access to premium restaurants across the country.
Fuel surcharge waiver: 1% waiver on fuel transactions ranging from Rs. 400 to Rs.1,00,000.
2)American Express platinum credit card
Joining fee:Rs. 66,000 + taxes
Annual fee: Rs. 66,000 + taxes
Key benefits:
Hotel privileges:Complimentary gifts by luxury hotels including Four Seasons, The Ritz Carlton Hotels and Mandarin Oriental Hotels.
Elite memberships:Marriott Bonvoy™ Gold Elite, Hilton Honors Gold Status, Taj Epicure, and Radisson Rewards Gold, which entitles you to priority services as well as exclusive discounts including free upgrades.
Reward points:
- 1 membership reward point for every Rs. 40 spent.
- 3X points on all international transactions.
- Reward multipliers: 5X points on purchases.
Global lounge access: Access to over 1,300 lounges, including American Express lounges, priority pass and centurion lounges.
Exclusive access: Invitations to exclusive VIP functions and complimentary tickets for Fashion Week, Wimbledon and Grammy Awards.
Travel discounts:Exclusive offers from airlines including Qatar Airways, Air France, and Virgin Atlantic.
Golf perks:Free worldwide access to golf courses and complimentary sessions.
3) Axis Bank Burgundy private credit card
Joining fee:Rs. 50,000 + taxes
Annual fee: Rs. 50,000 + taxes
Key features:
Reward points: For every Rs. 200 spent earn 15 EDGE REWARD points.
Dining privileges: Complimentary EazyDiner Prime Membership through which includes flat 25% off on certain restaurants.
Golf sessions: 50 free rounds of golf annually.
Entertainment offers:5 free movie tickets every month and 5 live event vouchers using the BookMyShow app.
Lounge access:
- Unlimited lounge access to domestic and International Lounges.
- 12 Free access to the guest lounges annually.
Exclusive hotel memberships:Complimentary membership of Club Marriott, Accor Plus and Taj Epicure.
Hotel discounts:
- Up to 15% off on stay at luxury hotels including Oberai and Trident.
- Discounts for postcard hotels starting from 10% and up to 20%.
Forex benefits:No foreign currency mark up fee.
Health & wellness: Discounts on wellness coaching at Weljii and diagnostic services at recognised hospitals.
4) YES private credit card
Joining fee:Rs. 50,000 + taxes
Annual fee: Rs. 10,000 + taxes
Key features:
Lounge access:Primary and additional cardholders get free access to over 1100 domestic and international airport lounges with 12 complimentary accompanying guests access.
Hotel privileges: Exclusive privileges in luxurious hotels including Shangri –La Singapore, Mandarin Oriental Hong Kong & Intercontinental Chennai.
Airport services: Complimentary ‘Meet and Greet’ service at airports for VIP clients and invitations to the ‘Airport by Invitation’ program.
Private air charter savings: Save up to $1,000 USD for round trip private air charter services by Vitesse Worldwide.
Forex mark-up fee:Low forex mark-up fee of 0.5%.
Welcome bonuses:
- Welcome bonus of 2,00,000 reward points.
- Free gift vouchers for Oberoi Hotels worth Rs. 9,000.
Early spend rewards:Enjoy Rs. 50,000 worth of reward points on making a total expense of
Rs. 10 Lakh or more during the first 90 days of activation of the card.
Reward points system:
- Domestic spend: 20 Reward points for every Rs. 200 spent.
- International spend: 40 reward points for each Rs. 200 spent.
Golf benefits: 12 complimentary green fees rounds and golf lessons annually.
Entertainment offers:Avail ‘Buy one, get one Free’ promotion on movies along with additional 4 free movie tickets per calendar month.
In conclusion, luxury cards although have a hefty fee but provide you with the most luxurious perks which indeed let you live a king size life! However, if you get an invitation from banks for these cards, you must first analyse your budget and whether or not you really require a credit card. On top of that, before you get a card for yourself, you must explore other options as well so that you can get the best card which suits your lifestyle.
(Note: Using a credit card carries its own set of risks)
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