Premium Credit Cards Are Not for Everyone

Premium credit cards; what are they? Out of the several credit cardsoffered by banks, some of the top banks are also into providing credit cards with special privileges, that are premium and that suit the high-income group of people. These cards are offered to some select customers, charge higher than usual, and are not for everyone.

The cards charge higher than usual because of two major reasons. These cards offer premium-level services, for which they require a fair price. Also, they need to be exclusive enough for the customer to whom the cards are being presented/issued/offered.

There are various types of services that are particular to just the premium credit cards. These services can be named as access to golf courses, international lounges, special clubs and the 24/7 concierge service.

Who Gets Invite to Premium Credit Cards?

Premium credit cards are issued to individuals with a high income. These are generally offered through invitations only, and are extended to those with considerable spending habits and strong credit scores.

Usually, the relationship between the bank and the individual is quite significant.

Here are some points that clarify the eligibility criteria for getting invites to premium credit cards:

High-Net-Worth Individuals

Individuals who belong to families or attached with businesses, that are high in net worth as well as substantial investments.

High Spending Habits

The cards' features are usually applicable upon huge spends. That is why, the cards are also offered to individuals making substantial spending, almost every month.

Those with a High Income

A very high income can also lead you to getting an invite from bank/s for premium credit cards.

An Excellent Credit History

Having a good, impressive record of creditworthiness and financial responsibility enhance your chances greatly.

Card's Special Requirements

Also, if there are particulars to the card that are met by any of these people, they are more often invited for premium credit cards.

It is usually the affluent professionals, frequent travelers or business owners who are invited. A good CIBIL score I also one of the most attractive features to getting this. The issuing banks also give importance to their very loyal customers who they feel deserve the invite to their premium credit cards.

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5 Premium Credit Cards Offered by Banks

Though there is a list of premium credit cards, which are invite-only or those with a high annual charge, here are a few of them with additional details:

Axis Bank Reserve Credit Card

One of the several reward-based cards, the Axis Bank Reserve Credit Card is a top premium card in India.

• Suitable for frequent-travelers
• Joining/Annual Fee: Rs.50,000 plus Taxes
• Provides lounge access
• Gives discounts on hotel bookings
• 8 free VIP assistance services
• Concierge services for the card holders
• Annual benefits plus weekend bonuses
• Memberships like Accorplus, Club ITC Culinaire, and Club Marriott Asia Pacific
• 50 complimentary golf rounds across various golf courses in the country every year
• 3% APR on extended credit
• Rs.2 lakh purchase protection, Rs.5 lakh credit shield
• No cash withdrawal fees, plus annual fee waiver

HDFC Bank Infinia Credit Card (Metal Edition)

This is a premium credit card offered by one of the top banks – HDFC Bank of India.

• Concierge services
• Complimentary membership at Club Marriott
• Up to 20% discounts for dining and stay
• Unlimited free golf games at select course in the country as well as overseas
• Annual Fee amounts to Rs.12,500
• Free Priority Pass Membership
• Unlimited access to its lounges in both India and abroad

ICICI Emeralde Private Metal Credit

ICICI Emeralde Private Metal Credit is also a premium credit card by the ICICI Bank. An invite-only card, there is offers on shopping and travel.

• Reward points on utility, education, grocery, insurance spends
• Joining/Annual Fee: Rs.12,499
• 3 Add-on cards available
• Complimentary 1-year Taj Epicure membership
• Every year Eazydiner Prime membership
• Welcome Bonus: Rs.12,500 ICICI points
• Rs.4 lakh spends in a year to give an EaseMyTrip air travel voucher
• Six points as rewards for every spend of Rs.200

IDFC FIRST Private Credit Card

This one's suitable when you are seeking rewards and travel benefits. Its joining and annual fee amount to Rs.50,000 plus taxes.

• Welcome benefits: Complimentary Club ITC Culinaire Select & Accor Plus Explorer Memberships, 1 lakh reward points
• Unlimited complimentary railway lounge access
• Complimentary Taj Experiences Signature dining voucher on minimum spends
• No forex markup fee
• Unlimited complimentary golf rounds & lessons
• No interest on cash withdrawal
• Unlimited complimentary lounge access worldwide

American Express Centurion/Black

This is claimed to be the most premium credit card not just in India, but in the world. It is also referred to as Amex Black Card and serves as a status symbol.

• Suitable for the super-rich who often fly business class
• Card is made of anodized titanium
• 3.5% foreign currency mark-up
• Applicable only to platinum cardholders
• Up to 7 Amex Platinum supplementary cards free of cost
• Access to Centurion relationship managers
• 24X7 concierge services
• Memberships: Shangri La Inner Circle Gold, Hilton Hotels Diamond, Accor Hotels Platinum, British Airways Gold, and Etihad Airways Gold
• Access to unlimited priority pass to airport lounges

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