Credit cards are usually intended as a means of payment. This definition is not fit to individuate the correct nature of most exclusive credit cards. They tend to provide unparalleled levels of customer service starting from a worldwide, 24/7 concierge service for any kind of need. These cards also typically offer holders a wide range of luxury travel benefits. But while the perks can be great, many of these cards will be difficult to get because of their eligibility criteria or fees.
However, you don’t need to be a millionaire to qualify for all these cards. Some are more accessible to average users than others. The actual important matters are the usefulness of the offered services and the frequency of the opportunities to get an advantage from the range of disposable services. Just because a credit card is exclusive doesn’t mean it will be the right choice for each. When comparing, the key is to weigh their potential value in rewards and benefits against their cost. If you are someone who could take full advantage of the benefits, it may make sense to request one of the exclusive cards that are not by invitation only.
The full range of supply is granted in most cases through agreements of co-branding. The number of credit cards, as financial intermediaries, classified as Institute of Payment, is very limited: American Express, Diners’ Club (no more in Italy since 2021), Mastercard and VISA, strictly in alphabetical order. Each of these creates new credit cards combining their denomination with airfreight carriers, hotel chains or luxury goods producers. We need to consider that the same approach is applied in the case of non-luxury credit cards, even if it doesn’t exist a pure scalable chain from the classic card to the top one, even if the marketing approach applies this philosophy in its policies. But after having taken into account one’s lifestyle, habits and spending patterns, it’s feasible that a less prestigious card would offer better value for money. Obviously, the list proposed here is not exhaustive and does not consider numerous co-branded proposals which reproduce in principle the offers of services illustrated below.
The nine most exclusive credit cards in alphabetic order:
- Capital One
- Centurion Card American Express
- Chase Sapphire Reserve
- Delta SkyMiles Reserve American Express
- Dubai First Royale Mastercard
- Hilton Honors American Express Aspire Card
- P.Morgan Reserve
- Luxury Card Mastercard Gold Card
- Platinum Card American Express
- Capital One Venture Rewards
Of all the exclusive credit cards, the Capital One Venture Rewards credit card may be the most accessible to the average user. Anyone can apply for this card; its annual fee of €95 is hundreds of dollars less than the other cards mentioned. Yet Capital One Venture Rewards credit card offers a feature set that can hold its own against almost no other credit card. Here are some of its most notable advantages:
- Unlimited 2X miles
- No commission on foreign transactions
- €100 global entry or TSA Pre® credit
- Transfer points to more than 10 partner airlines and hotels
- Get access to premium experiences (VIP tickets, five-star meals, etc.)
- Travel accident insurance
- 24/7 travel assistance services
- Extended warranty protection
- Car rental collision coverage
In addition to the benefits listed above, new cardholders can earn 100,000 miles after spending €20,000 in the first 12 months of card ownership or earn €50,000 miles after spending €3,000 in the first three months.
- Centurion Card American Express Black
The American Express Black card, also called Black Amex, is one of the most exclusive travel credit cards you can own. In fact, it is not for everyone, it is by invitation only! If you happen to be one of the privileged few who receive an invitation, should you accept it? The American Express Nera, also known as American Express Centurion Card, is definitely for top-tier travellers, though it’s typically not considered one of the best credit cards for international travel. As mentioned earlier, you can only get the Amex Black Centurion Card if you have received an invitation. Even if there are no published requirements, reading on the net, it seems that to be accepted you must meet the following criteria:
- Have an American Express credit card for at least one year
- Spend at least $100,000 – $450,000 per year
- Earn at least $1 million a year
- Have assets of at least $16 million
If you meet the above financial criteria, you may expect an invitation from American Express in the future. But if that doesn’t happen, you could ask Amex yourself for eligibility.
- Chase Sapphire Reserve®
Chase Sapphire Reserve® has listed as one of the most exclusive credit cards thanks to its annual fee of €550. There is an additional charge of €75 per further authorized user. This card also offers a wide range of features and benefits, including:
- €300 annual travel credit: eligible travel expenses include airlines, hotels, car rentals, cruise lines, timeshare, car services, and more.
- Global membership fee or TSA Pre✓ ® Credit: get up to €100 credit refund for the membership fee every four years.
- Priority Pass™ select membership: free access to over 1,300+ VIP lounges in over 500 cities worldwide.
- The Luxury Hotel & Resort Collection: free room upgrades and other benefits at various top hotels and resorts worldwide.
- Higher redemption value: points are worth 50% more redemption when used to book travel through Chase Ultimate Rewards.
- Lyft benefits: earn 10X points on Lyft rides and get a free Lyft membership.
- Free DoorDash subscription: for orders over €12, pay €0 in shipping and get reduced service charges.
- Peloton credit: earn up to €120 back on your entry fee.
- 3X points on meals and trips.
- 24/7 access to customer service specialists.
- Holders of the Chase Sapphire Reserve® card can earn a sign-up bonus of 60,000 points after spending €4,000 in the first three months with the card.
- Delta SkyMiles® Reserve American Express Card
The Delta SkyMiles® Reserve American Express card is part of the most exclusive credit cards largely because of its annual fee of €550. It also offers several luxury travel benefits including:
- Free access to the Delta Sky Club®
- Free access to the Centurion® Lounge
- First free checked baggage
- Status Boost: earn 15,000 Medallion® Qualifying Miles (MQM) for every €30,000 spent with your card up to a maximum of four times per year.
- Delta Reserve annual accompaniment certificate: get a new certificate for every cardholder anniversary.
- 3X Miles on Delta Purchases: includes Delta flights and vacations
- Global Entry or TSA Pre✓ Fee credit: receive up to €100 credit on each global entry statement or up to €85 for a five-year TSA Pre✓ plan.
- Upgrade priority: compared to other Medallion members of the same level and fare class
You can also earn 80,000 bonus miles and 20,000 Medallion® Qualifying Miles (MQM) after spending €5,000 on purchases within the first 3 months of opening the account. Looking for a Delta card with a lower annual fee, American Express’ Delta SkyMiles® Gold could be a viable alternative.
- Dubai First Royale Mastercard
This card may actually be the most exclusive credit card in the world. It is an invitation-only card that has no preset spending limits. This card is finished in gold and features a real diamond in the centre. Most rumours say the annual fee is around €2,000. You will definitely need a high net worth to consider for this card. But this is not the only criterion. You’ll also need to be someone that the Dubai First team thinks can benefit from its main offers: the dedicated relationship manager that is assigned to each cardholder.
Dubai First Royale Mastercard relationship managers are there to help turn incredible requests into reality, such as arranging accommodation for a viewing of a Formula 1 race in a private chalet. For the type of people who use this card, this service is much more valuable than points, refunds or other common card benefits. So how many people are walking the earth today with a Dubai First Royale Mastercard in their wallets? According to the CEO of Dubai First, there are only a few hundred. If you’re looking for a credit card from Dubai First that you can actually apply for, you might want to check out the Dubai First Cashback Card instead.
- Hilton Honors American Express Aspire Card
The Aspire Card is the most exclusive of the three Hilton credit cards offered by American Express. You will have to pay an annual fee of € 450 for the privilege of using this card. In return, fans of the Hilton brand get the following benefits:
- Weekend night rewards: get a free weekend night each year on the cardholder’s every anniversary and earn an extra night by spending €60,000 on your card during the calendar year.
- €250 credit on Hilton resort statement
- Free diamond status
- 14x points on all Hilton purchases
- 7x points on travel: applies to flights booked on AmexTravel.com or rental cars booked directly with certain car rental companies
- 7x points for lunch
You can also earn a huge membership bonus of 150,000 Hilton Honors points if you spend at least €4,000 within the first three months of your card membership.
- P. Morgan Reserve
This is another of the few credit cards in the United States that you cannot apply for as it is an invitation-only card. But, unlike the Centurion® Card, there is no way to request an invitation. So who is invited to this card? You need at least $10 million in total assets with JP Morgan to be in the running for an invitation. This automatically makes this one of the most exclusive credit cards in the world even before the annual fee of €595 is considered. Here are some of the benefits you will have access to:
- €300 annual travel credit: eligible travel expenses include airlines, hotels, car rentals, cruise lines, timeshare, car services, and more.
- Global membership fee or TSA Pre✓ ® Credit: get up to €100 credit refund for the membership fee every four years.
- Priority Pass™ select membership: free access to over 1,000+ VIP lounges in over 500 cities, worldwide
- The Luxury Hotel & Resort Collection: free room upgrades and other benefits at various top hotels and resorts worldwide.
- Peloton credit: earn up to €120 back on your entry fee
- Highest redemption value for Pay Yourself Back℠: points are worth 50% more when you redeem them for credits on your statement after using your card at select retailers
- DoorDash and caviar benefits: get a free DashPass membership, receive up to €120 in DoorDash statement credits, and get reduced service fees on DoorDash and Caviar orders above €12.
- Access exclusive events: Use your points for Sapphire private dining series events and other VIP experiences.
- Luxury Card Blooker
Luxury Card is a global leader in the premium credit card market. From patented metal cards to a 24/7 concierge service and app, its mission is to shape the industry through innovation, value and service. With leading airfare and cash-back redemption rates along with first-class benefits, it is supposed that this credit card can pay for itself.
Luxury Card provides three different credit cards: Black Card, Titanium Card, and Gold Card. All three cards are made of carbon and stainless steel and the Gold Card is made with 24-karat gold. The Titanium Card is the most affordable of the Luxury Card’s offerings. The Black Card, a rewards credit card, is the middle-tier offering of the Luxury Card. The Gold Card is considered the higher end of the three cards. Benefits for each card vary and can include a 24/7 concierge service, gifts, and worldwide acceptance. Other benefits can include cash-back bonuses, airport lounge access, travel insurance for luggage, trip interruption/cancellation, rental car damages, ID theft protection, and fraud liability protection. It also has a mobile app for users to access benefits and services. Luxury Card also publishes a bi-annual Luxury Magazine for members only which is in print and digital form. The magazine covers travel, design, technology, and fashion topics.
- Platinum Card® American Express
Unlike the Centurion® Card, anyone can apply for the Platinum Card® from American Express. However, to use this card, you will have to pay an annual fee of € 550. This alone could make this card too exclusive for many people. However, the Platinum Card® offers a lot of value for the price. Some of its main advantages include:
- Membership Rewards® points at petrol stations and supermarkets: up to €15,000 in combined purchases during the first six months with the card
- 5X Membership Rewards points for flights®: up to €500,000 in airline charges
- Earn 5X points on prepaid hotels: applies only to hotel stays booked on Amextravel.com
- Uber Rides with Platinum™: get €15 in Uber Cash every month plus an extra €20 in December.
- Buy Saks with Platinum: Receive up to €100 in credits on your statement each year for Saks Fifth Avenue purchases or saks.com made with your Platinum Card®.
The American Express Platinum Card® currently offers a membership bonus of 75,000 to new cardholders who spend €5,000 within the first six months of cardholder ownership.
Prof. Giuseppe G. Santorsola
Full Professor of Asset Management
Corporate Finance and Corporate & Investment Banking
Parthenope University of Naples