Premium Credit Cards

Premium credit cards offer impressive rewards and benefits for those with a strong credit score.

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British Airways American Express® Credit Card

2015 award winner
limited offer Reward Travel Airline Instant Decision No Annual Fee

British Airways American Express® Credit Card

Features
  • 9000 Avios when spending £1000 within the first 3 months
  • Companion Voucher when you spend £10000 in one year
  • 1 Avios for every £1 spent
more info
15.9% APR
Representative (variable)
OriginalAvios
No fee
Apply
Will I get this card?
To get this card you must:
  • be 18 or older
  • have a current UK bank or building society account
  • have an annual household Income of £20,000
  • have a permanent UK home address
  • have no County Court Judgements
  • have been trading for 6 months if self-employed
Representative example: When you spend £1,200 at a rate of 15.9% (variable) per annum, your representative APR is 15.9% APR (variable).

British Airways American Express® Premium Plus Credit Card

2015 award winner
limited offer Reward Travel Airline Instant Decision

British Airways American Express® Premium Plus Credit Card

Features
  • 25000 Avios when spending £3000 within the first 3 months
  • 1.5 Avios for every £1 spent; 3 Avios for every £1 spent directly with British Airways
  • Companion Voucher when you spend £10000 in one year
more info
56.4% APR
Representative (variable)
OriginalAvios
£150
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
  • be 18 or older
  • have a good credit rating
Representative example: When you spend £1,200 at a rate of 19.9% (variable) per annum, with a £150 annual fee, your representative APR is 56.4% APR (variable).

American Express Platinum Cashback Card

2015 award winner
Reward Cashback

American Express Platinum Cashback Card

Features
  • 5% cashback in your first 3 months (up to £125) 1.25% cashback thereafter
  • Bonus 2.5% cashback if you spend more than £10001 in a year
  • £25 annual fee
more info
18.7% APR
Representative (variable)
OriginalCashback
£25
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
  • be 18 or older
  • have an income of £20,000 or more
  • have a good credit rating
Representative example: When you spend £1,200 at a rate of 14.0% (variable) per annum, with a £25 annual fee, your representative APR is 18.7% APR (variable).

American Express Preferred Rewards Gold Card

2015 award winner
Reward Travel Airline

American Express Preferred Rewards Gold Card

Features
  • 20,000 bonus Membership Rewards points when you spend £2,000 in your first three months
  • 1 points for virtually every £1 spent and 1 additional point for every £1 spent directly with airlines
  • £0 annual fee in the first year
more info
OriginalAmex Membership Rewards
£140
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be 18 or older
  • have a current UK bank or building society account
  • be a permanent UK resident
  • have an income of £20,000 or more
  • have no history of bad debt
Charge card: No interest charges. Balance must be paid in full each month. Annual fee of £140 applies.

The Starwood Preferred Guest® Credit Card from American Express

2015 award winner
Reward Travel Airline Instant Decision

The Starwood Preferred Guest® Credit Card from American Express

Features
  • 1 Starpoint per £1 spent. 10000 point bonus for £1,000 spend in first 3 months
  • Redeem points on flights and luxury hotels
more info
36.2% APR
Representative (variable)
OriginalSPG Starpoints
£75
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
Representative example: When you spend £1,200 at a rate of 19.9% (variable) per annum, with a £75 annual fee, your representative APR is 36.2% APR (variable).

Lloyds Bank Avios Rewards Amex/MasterCard

0% Balance Transfer 0% Purchase Reward Travel Airline

Lloyds Bank Avios Rewards Amex/MasterCard

Features
  • Up to 1.25 Avios for every £1 spent (double in first 6 months)
  • No foreign transaction fees
  • £24 annual fee
more info
23.7% APR
Representative (variable)
OriginalAvios
£24
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
  • be 18 or older
  • have a good credit rating
  • no balance transfers from Lloyds credit cards
Representative example: When you spend £1,200 at a rate of 18.94% (variable) per annum, with a £24 monthly fee, your representative APR is 23.7% APR (variable).

Lloyds Bank Premier Avios Rewards Amex/MasterCard

Reward Travel Airline 0% Balance Transfer 0% Purchase

Lloyds Bank Premier Avios Rewards Amex/MasterCard

Features
  • 1.5 Avios for every £1 spent (double in first 6 months)
  • No foreign transaction fees
  • Get two cards - Mastercard and Amex
more info
52.1% APR
Representative (variable)
OriginalAvios
£140
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
  • be 18 or older
  • have a good credit rating
  • no balance transfers from Lloyds credit cards
Representative example: When you spend £1,200 at a rate of 18.94% (variable) per annum, with a £140 monthly fee, your representative APR is 52.1% APR (variable).

Virgin Atlantic White Credit Card Account

limited offer Reward Airline Money Transfer No Annual Fee Travel

Virgin Atlantic White Credit Card Account

Features
  • 3,000 miles with first card purchase made in 90 days of account opening
  • An additional 7000 bonus miles when spending £1000 in the first 90 days
  • 0% on balance and money transfers for up to 6 months
more info
17.9% APR
Representative (variable)
OriginalVirgin Atlantic Flying Club Miles
No fee
Apply
Will I get this card?
To get this card you must:
  • be 18 or older
  • be a UK resident
  • have a building society account
Representative example: When you spend £1,200 at a rate of 17.9% (variable) per annum, your representative APR is 17.9% APR (variable).

Virgin Atlantic Black Credit Card Account

limited offer Airline Money Transfer Reward Travel

Virgin Atlantic Black Credit Card Account

Features
  • 18,500 miles with first purchase made in 90 days of account opening
  • An additional 13,500 bonus miles when spending £3000 in the first 90 days
  • 0% on balance and money transfers for up to 6 months
more info
52.0% APR
Representative (variable)
OriginalVirgin Atlantic Flying Club Miles
£140
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be 18 or older
  • be a UK resident
  • have a building society account
Representative example: When you spend £1,200 at a rate of 18.9% (variable) per annum, with a £140 annual fee, your representative APR is 52.0% APR (variable).

NatWest Cashback Plus Credit Card

limited offer Cashback Reward

NatWest Cashback Plus Credit Card

Features
  • OFFER - 10% cashback on UK restaurants/bars spending (April 1st - June 30th)
  • 1% cashback on supermarket shopping and from selected retailers
  • 0.5% cashback on all other purchases
  • additional 1% if you use contactless
more info
17.4% APR
Representative (variable)
OriginalCashback
£24
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be a permanent UK resident
  • be 18 or older
  • have an income of £10,000 or more
  • have a good credit rating
Representative example: When you spend £1,200 at a rate of 12.9% (variable) per annum, with a £24 annual fee, your representative APR is 17.4% APR (variable).

The Platinum Card

most popular
2015 award winner
Reward Travel Airline

The Platinum Card

Features
  • Receive 30,000 Membership Rewards® points when you spend £2,000 in the first three months 
  • One Membership Reward point for virtually every £1 spent
  • Platinum Travel and Concierge Service, unlimited access to over 700 airport lounges
more info
OriginalAmex Membership Rewards
£450
Annual fee
Apply
Will I get this card?
To get this card you must:
  • be 18 or older
  • have a current UK bank or building society account
  • be a permanent UK resident
  • have an income of £20,000 or more
  • have no history of bad debt
Charge card: No interest charges. Balance must be paid in full each month. Annual fee of £450 applies.

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Premium Credit Cards

Premium credit cards

Having a premium card has long been a powerful status symbol, and it's no surprise with the extensive benefits cardholders enjoy, from concierge services, to access to exclusive airport lounges.

So if you're looking for a card with prestige, then a premium credit card could be the way to go. If you're looking for a few simple rewards or maybe even some cashback, then look at rewards credit cards and cashback credit cards.

What are the benefits of a premium credit card?

The main selling point of premium cards is the exclusive benefits available to cardholders.

These will vary depending on the card you choose, but may include:

  • A high credit limit
  • Comprehensive worldwide travel insurance for you and your family
  • Breakdown cover or roadside assistance
  • Reward or loyalty points, which you can exchange for a wide variety of goods and services, including flights.
  • A concierge or personal assistant service, available 24 hours a day to help you arrange almost anything.
  • Access to exclusive airport lounges worldwide.

For some people, particularly those who travel frequently, these benefits can be very appealing – saving time and making life a little easier and more comfortable.

Disadvantages to premium credit cards

The added extras and personalised service that you get with a premium credit card doesn't come for free – with most premium cards you pay an annual fee, usually of around £250-300, although this varies.

The APR on premium credit cards can also look very high – often around the 50% mark.

This is because the annual fee has to be shown as part of the APR under Consumer Credit Act regulations.

So if the standard APR for purchases was 16.8%, for example, and the card had a £250 annual fee, the APR would have to be shown as 51.8% taking the fee into consideration.

Things to consider when choosing a premium card

Some of the very high-end premium credit cards are available on an invitation only basis, while others specify a minimum income that cardholders must meet.

Most premium credit cards will insist on a strong credit history, so it could be worth checking your credit report before you apply.

Some premium cards are actually charge cards. These differ from credit cards, in that they allow you to spend interest-free credit, but you must pay your balance in full every month.

However, they do not allow you to borrow money in the same way as a credit card.

It is also worth considering how valuable the benefits that come with a premium credit card will be to you personally before you sign-up and start paying the annual fee.

Premium cards can be great value for money if the benefits are relevant to you and you will make the most of them, otherwise, a standard credit card may be a more economical option.

Read more…