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Should You Get a Luxury Credit Card?

6 min read

Published December 5, 2025

Table of contents

Key Takeaways

A luxury credit card is an exclusive credit card offering extensive perks and often travel rewards to qualified applicants.
To qualify, you typically need excellent credit and high income, and there’s usually a hefty fee.
A luxury credit card may not be the best credit card for you if you don’t travel often or don’t meet the requirements.

If you value traveling in style, individualized customer service, or exclusive rewards, you may be interested in a luxury credit card. Luxury cards often have strict eligibility requirements and high costs. But if you have the income and credit score necessary to qualify, an elite credit card with benefits that fit into your lifestyle may be worthwhile.

What are luxury credit cards?

Credit card companies may offer exclusive credit card options to their most highly qualified applicants. But what, exactly, sets these luxury cards apart from other rewards cards?

A luxury credit card—also called an elite or premium credit card—is an exclusive rewards card offering lavish perks that you might not get with a standard card. These perks often feature high credit limits as well as extensive travel rewards and benefits.

The most prestigious, exclusive cards may be invitation-only, but most luxury cards are open to anyone who meets the requirements.

Benefits and perks of luxury cards

There are many good reasons to consider a luxury card, especially if you’re a frequent traveler. Many elite credit cards offer one or more of the following perks:

Travel rewards. A luxury credit card may offer a high rewards rate for using a certain airline or hotel chain. You may then redeem those rewards for hotel reservations, airfare, or a statement credit that you might use for another travel purchase.
Airport lounge access. Some luxury cards offer complimentary access to airport lounges that provide a comfortable place to wait for your flight.
Automatic elite status. Luxury credit card membership may open the door to elite status with partnered hotel chains. With elite status, you may enjoy automatic room upgrades, late checkouts, free meals, or waived fees.
Dining perks. A luxury card may come with regular statement credits that you could use for dining out and a high rewards rate on eligible restaurant purchases.
Exclusive customer service. Some exclusive credit cards offer a luxury card concierge service—personalized assistance for cardmembers at any time of day.

While these features are common in luxury credit cards, they’re not guaranteed. You may ask the issuer or conduct online research to get a breakdown of a specific card’s premium features and reward structures. The best luxury credit card for you should offer features that align with your spending habits.

Drawbacks of luxury credit cards

An elite credit card may not be the best credit card for everyone. Consider the disadvantages to determine whether premium card membership could add value to your financial life.

High fees. You typically have to pay a high premium for premium features, and luxury credit cards are no different. Annual fees may be hundreds of dollars or more. It’s important to ensure the benefits of a premium card offset the high costs.
Mostly travel rewards. Most luxury credit options are really travel credit cards. If you prefer to stay home, you may not get as much value from a luxury card as a frequent traveler.
Steep spending minimums. Some luxury cards require you to spend a lot of money within a short time frame to access certain benefits, like bonus rewards or perks.
Strict eligibility requirements. Qualifying for a luxury credit card isn’t easy. Credit card issuers generally want to make sure you earn high income before offering you a high credit limit. You also generally need a strong credit history.

Credit score requirements for luxury credit cards

You’re unlikely to qualify for a luxury credit card if you’ve only recently begun managing credit. Most credit card issuers require a long, positive credit history for more elite cards.

Every credit card issuer has unique priorities. But you generally need at least a good credit score to qualify for a luxury card. Many cards may even require excellent credit.

Should you get a luxury credit card?

If you meet the eligibility criteria, a luxury credit card may be a welcome addition to your wallet as long as it offers benefits that fit into your lifestyle.

Premium credit cards offer some perks you may not be able to get elsewhere, but they come at a high price. The best luxury credit card for you should offer you enough value to make the fee worthwhile.

Before you apply, try to calculate the value of the potential perks and rewards. Be honest about what you might realistically use. If you typically stay with friends when you travel, for example, hotel room upgrades may not be valuable to you. A luxury card may be a good fit if the benefits outweigh the cost.

If a luxury card doesn’t seem like the right fit for you, consider other rewards credit card options that align with your spending habits.

Did you know?

You don’t need to pay a high annual fee to earn credit card rewards and enjoy perks. With the Discover it^® Cash Back Credit Card, earn 5% cash back on everyday purchases at different places you shop each quarter, up to the quarterly maximum when you activate. All for no annual fee.

Learn More

The bottom line

You may want to reap the benefits of a luxury credit card if you’ve worked hard to build excellent credit and a high income. While luxury cards are usually pricey, luxe perks like flight or hotel upgrades, airport lounge access, and high rewards rates may make them worthwhile. But if you prefer a staycation to a vacation getaway, a luxury travel credit card may not be the right fit.

If you want a luxury card but don’t yet qualify, don’t worry. The responsible credit habits you practice today may help you build a strong credit score, so you have a better chance of getting a luxury card in the future.

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