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A couple of related definitions come to mind as to what premium cards would mean for me personally:
1. Single-digit interest rate (the lower the better, and even better if also a fixed rate card)
2. Together with rewards.
3. Together with no AF.
In other words to me anyway in MHO lol, the proverbial "holy grail" of credit cards would be one with a single-digit, fixed-rate APR, together with a decent rewards program, and no AF And with honorable mention to a single-digit, variable-rate rewards card with no AF. Nothing else really piques my interest the same way with credit cards, tbh.
@longtimelurker wrote:
@redpat wrote:Premium is a relative term,
.
This! To someone with bad credit, a Cap One Secured is "premium" as it is much better than the alternative bottom feeders out there
But like "prime", it is a pretty meaningless term. I would like to think of it as "hard to get" but that depends who for (so unlike an above poster I don't think of CSP as premium, because it isn't that hard to get in the general population) and where you are (for geographically restricted cards)
So probably better to drop undefined terms!
Uh? USDA "Prime" vs. Choice or "Prime" Real Estate (I think one can tell A space from B space) isn't a meaningless term, lol.
^lol now THAT'S what you'd call a "unicorn" card (in response to galahad).
@OmarGB9 wrote:^lol now THAT'S what you'd call a "unicorn" card (in response to galahad).
lol you said it perfectly, thanks Omar alas, I can always dream of the famed unicorn...who knows, maybe one day we might actually have the ever-rare sighting, lol... *sighs wistfully*
@redpat wrote:
@longtimelurker wrote:
@redpat wrote:Premium is a relative term,
.
This! To someone with bad credit, a Cap One Secured is "premium" as it is much better than the alternative bottom feeders out there
But like "prime", it is a pretty meaningless term. I would like to think of it as "hard to get" but that depends who for (so unlike an above poster I don't think of CSP as premium, because it isn't that hard to get in the general population) and where you are (for geographically restricted cards)
So probably better to drop undefined terms!
Uh? USDA "Prime" vs. Choice or "Prime" Real Estate (I think one can tell A space from B space) isn't a meaningless term, lol.
Oh, I might have meant in the context of "prime credit card"!
Credit One!
I have a slightly different take on this from what's been posted. There was a thread on this forum a while back from someone who got denied due to "Too few premium accounts" or similar. On a credit report, obviously a potential creditor can't tell if you have a card with an annual fee and lots of perks or not, unless it's a particular cobranded and reports that way. They have no idea what kind of card it is, only who issued it.
Anyway on that thread, as I recall, it turns out that a "premium" card in that context was one with a $10k+ credit limit.
@ddemari wrote:When I think of "Premium" Credit cards I think of amenities that usually come with a hefty annual fee. For example I have the Ritz Visa and Amex platinum. Both cards offer excellent 24/7 customer service, airport lounge access, upgrades at hotels, access to concierge, ability to upgrade hotel rooms, have some type of lucrative points incentive, and some type of credit usually for travel. Ritz 395 annual fee comes with a yearly 300 dollar travel credit. Amex platinum, 450 annual fee comes with a 200 dollar travel credit yearly.
+1. This is pretty much it. Cards that are benefits-heavy which are primarily geared towards travellers. AFs will be $300-400+, sometimes higher.
I don't really consider the CSP, Premier, or many other spend-centric cards to fall into this category.
I would have to agree with you.
My dream card would be the discover it at the barclay ring interest rate. Couple that with double cashback and shop discover and that's the ultimate card!
Thats exactly what my mother has lol. She opened the discover more when the prime rate was at almost 20% with prime + 3.99%. Now the prime at 3.50 brings her to 7.49 % and of course I made her PC the card to the it and request double cashback. The interest rate followed along.
I'm beyond jealus!! Now that day dreaming is over....
Premium cards for me would be discover $ Amex, discover for cashback and Amex for travel rewards and benefits. Of course you need a visa or mastercard in your portfolio since both are seldem accepted in europe.