Best Premium Credit Card for 2020

Premium credit cards are generally geared toward frequent travelers. So, those who travel several times a year should consider paying the $450 annual fee for some of the additional benefits. While $450 may seem like a lot at first, once you add up the value of those benefits, and factor in the travel statement credits often offered with a premium credit card, you’ll find the annual fee drops significantly — often below the $95 annual fee required for a general travel rewards card. Better rewards and statement credits for less than what you’d spend for a general travel rewards card: that’s money well spent in my book.

In this article

    Best for VIP Travel Perks

    Chase Sapphire Reserve® Learn more

    Who should get it

    The Chase Sapphire Reserve® is for the experienced traveler who wants to travel in style and earn rewards in the process. The card offers a yearly travel credit worth $300 as well as airport luxury lounge benefits. Among the various luxury credit cards available, Chase Sapphire Reserve® is good common sense for those who get around.

    How to use it

    The signup bonus on this card is enough to boost your savings on international round-trip flights, and the continued rewards for travel and dining are considerable as well, with 3 points earned per dollar spent on those purchases. With each point worth 1.5 cents each, that can be a major plus for folks who spend a lot of money on travel.

    Consider this

    The Chase Sapphire Reserve® allows you to transfer points to other loyalty programs. The practice of transferring points and redeeming them can save hundreds of dollars on travel-related expenditures.

    Why you’ll want it

    The annual fee of $550 is higher than average, but with up to triple points on dining and travel, not to mention a wide assortment of other perks, the Chase Sapphire Reserve® card more than earns its keep.

    Best for luxury travel

    The Platinum Card® from American Express
    Partner offer
    Apply now

    Who should get it

    Much like the Chase Sapphire Reserve® card, The Platinum Card® from American Express is aimed squarely at the seasoned traveler who prefers not to cut corners on dining and lodging. The annual fee is a head turner at $550, but the card pays for itself through the volume of rewards and perks offered, such as travel credit and elite airport lounge access.

    How to use it

    Once you receive The Platinum Card® from American Express, there are a number of benefits available to you right away, including free credits for airline travel, Global Entry, credits for Uber usage and high-end status with hotel chains such as Hilton and Marriott.

    Consider this

    The Platinum Card® from American Express allows for additional authorized users (for an additional fee), which really allows you to rack up rewards quickly. Gold Card holders can also be added to the account for free, allowing access to the same rates, but without many of the benefits offered on The Platinum Card® from American Express.

    Why you’ll love it

    The Platinum Card® from American Express offers one of the most generous welcome bonuses to be found in the industry, offering 75,000 Membership Rewards® points if you spend $5000 within the first 6 months. And while the card may be used for everyday purchases and activities, it’s the roster of perks that will have you using this card for years to come.

    Best for Travel & Dining Perks

    American Express® Gold Card
    Partner offer
    Apply now

    Who should get it

    The American Express® Gold Card is a card for foodies, whether it’s eating out or dining at home, as it touts a considerable rate of reward for both restaurant and U.S. supermarket purchases. Membership perks are also available for frequent travelers, with credits earned that more than make up for the rather stiff $250 annual fee.

    How to use it

    The American Express® Gold Card offers new account holders 60,000 Membership Rewards® points if they spend $4,000 in the first 6 months. Points continue to be earned on the order of 4 per dollar at restaurants across the globe, 4 per dollar at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X) and 3 per dollar on flight booked either directly through airlines or through amextravel.com.

    Consider this

    The American Express® Gold Card is a charge card, differentiating itself from traditional credit cards in that there is no predetermined credit limit, and you must pay off your balance each month.

    Why you’ll love it

    The American Express® Gold Card is the gold standard when it comes to restaurant and U.S. supermarket store purchases, as well as travel, lodging, and dining expenditures.

    Here are the best premium credit card offers for 2020:

    Chase Sapphire Reserve®
    Best For Vip Travel Perks
    Chase Sapphire Reserve®
    The Platinum Card® from American Express
    Partner offer
    American Express® Gold Card
    Partner offer
    Best For Travel & Dining Perks
    American Express® Gold Card

    For rates and fees of the American Express® Gold Card, please click here .
    For rates and fees of The Platinum Card® from American Express, please click here .

    Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post. To view our disclosures, click here. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.

    Jason Steele

    Contributing Writer

    Jason Steele is a full-time freelance writer and expert in credit cards, travel and general personal finance. His work has been featured in The Points Guy, Business Insider, Forbes and Smarter Travel.