Premium cards are ideal for those who earn S$80,000 or more per year. Because most banks understand that premium customers have special needs and demands, they provide a panoply of privileges such as lifestyle benefits, travel benefits, entertainment benefits, rewards and rebates on the same card. While some cards are there for anyone to apply, there are others that are available by invitation only. For such cards, you can register your interest with the bank.
Some of the common benefits of premium cards include:
- Concierge service
- Golfing privileges
- Access to VIP lounges at airports
- Comprehensive travel cover
Compare The Best Premium Cards in Singapore:
Who Should Use Premium Credit Cards?
If you’re someone who earns at least S$80,000 a month and loves to splurge on lifestyle, dining, travel and all the finer things in life, you’ll find a premium card extremely useful.
What Are the Commonly Offered Privileges?
A premium card, as the name suggest, is mainly directed towards a select group of banking customers. Most cards come with exclusive deals and privileges. If you want more bang for the buck, convenience, and a life filled with luxuries, get yourself one of the cards listed above soon.
Some of the privileges commonly available on premium cards are:
- Exclusive club memberships
- Special dining and hospitality offers
- Points to miles administrative fee waivers, where applicable
- Wellness and beauty deals
- Accelerated reward points or miles earnings
- Emergency card replacement
- Exclusive healthcare services and offers
- Complimentary limousine transfers to and from airports
Things to Consider Before Getting a Premium Card
- Check for the number of free airport limousine transfers and complimentary VIP lounges at airports.
- Check for the wellness and lifestyle benefits. Get a clear idea about the terms and conditions, and the validity of the offers, if any.
- Find out if there is a cap on earnings of reward points, miles or cash rebates. Going with a card that doesn’t have a monthly cap will help you maximise your returns on investments.
- See the annual fees and its associate terms. Most premium cards have high annual fees. However, by spending a certain amount in a year, you may be able to get a waiver of annual fees for the next year. Some cards are, however, free for life.
- Check the cards promotional offers on dining, hotel reservations, golf, car rentals, and wellness services.
- Most of the banks offer concierge services with these cards. Check the details and the conditions.
- Pore over the complimentary travel plan benefits, know the extent of coverage, the special conditions, and the exclusions.
How to Choose the Right Premium Card?
- Annual income criteria: Before applying for a card, check the minimum income criteria and see whether you meet the requirement or not. Premium cards usually have a minimum annual income requirement of S$80,000 or more. If you meet the requirement, carefully consider the benefits offered.
- Privileges: Are you a golfing aficionado? Or are you someone who enjoys a relaxing spa session after a hard day’s work? Carefully study the benefits. Choose a card that rewards you for payments that you’re most likely to make. That would help you maximise the value you can derive from your card.
- Travel benefits: You’re probably someone who has to travel a lot. Travel in style and luxury by choosing the right card. Most premium cards offer a wealth of dining, hospitality, and travel benefits that can make your tour pleasant and rewarding.
- Annual fee waivers: Since the annual fees for most premium cards are usually on the higher side, try to look for cards that offer annual fee waivers for a longer period. Some banks also set conditions under which you may get a waiver for subsequent years by meeting certain criteria.