Luxury Credit Cards

Here’s our selection of luxury credit cards for you to compare. Luxury credit cards are considered by some as status symbols, and indeed these distinctive cards are marketed with high income and high net worth individuals in mind.

But luxury credit cards are also cleverly packaged aspirational products. Card issuer’s promotions hint at these cards being tough to get accepted for, potentially raising their “street cred”.

In reality most of these cards are available to anyone with a reasonable consistent income, a clear credit history and high credit score. If you’re new to the world of luxury credit cards, take a look at our handy Guide below the comparison table.

The luxury aspect comes from the wide range of high quality perks and freebies that you won’t find on mainstream credit cards. Some of our luxury cards below are in fact charge cards, meaning you’re only being offered credit until the end of the month, so balances need to be settled within 28 days.

American Express Platinum Cashback Credit Card

5% cashback 1st 3 mths, 1.25% thereafter, 0% on purchases for 6 mths

3%

18.5% APR

Key points View card rates

5% cashback for first 3 months, up to £100
Double cash-back every 13th month
Enhanced purchase protection
Quality American Express insurances

£25 annual fee
No balance transfer deal

Key Selling Point

Market leading cash-back card if managed correctly, now with 0% for 6 months on purchases

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% or £3

Surcharge on Overseas Transactions

2.99%

ATM £ Cash Charge Abroad

3% or £3

Minimum Repayment Amount

£25.00

Minimum Repayment Percentage

2%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

21

Recommended Minimum Income

£20,000

Annual Fee

If dormant £25

Annual interest rate on purchases

14%

Annual rate on balance transfers

N/A

Annual interest rate on cash advances

27.9% p.a.

Credit rating needed

Good

Representative example: 18.5% p.a. (variable) on purchases. Equivalent to 18.5% APR representative (variable) based on credit limit of £1,200.

Capital One World MasterCard

5% cash back in 1st 3 months + unlimited cash back of 1.25% on all future spending

N/A

19.9% APR

Key points View card rates

5% cash for 1st 3 months up to £100
1.25 % cashback on all purchases thereafter
No longer has an annual fee
Capital One Identity Alert

Only available to those with perfect credit
No balance transfer or purchases deal

Key Selling Point

5% cash back for 1st 3 months (up to £100) and 1.25% cash back thereafter

Balance Transfer Limit £

N/A

ATM £ Cash Charge

3% min. £3

Surcharge on Overseas Transactions

2.75%

ATM £ Cash Charge Abroad

3% min. £3

Minimum Repayment Amount

£5

Minimum Repayment Percentage

1%

Maximum Credit Limit

£7,500

Recommended Minimum Age

21

Recommended Minimum Income

£20,000

Annual Fee

No

Annual interest rate on purchases

19.94%

Annual rate on balance transfers

19.94%

Annual interest rate on cash advances

19.94%

Credit rating needed

Perfect

Representative example: 19.94% p.a. (variable) on purchases. Equivalent to 19.9% APR representative (variable) based on credit limit of £1,200

NatWest YourPoints World MasterCard

0% on purchases and balance transfers for 13 months

2.9% min. £5

17.9% APR

Key points View card rates

0% for 13 months on purchases
0% for 13 months on balance transfers
NatWest YourPoints on all your purchases
A variety of complimentary insurances

No balance transfers from other NW or RBS cards

Key Selling Point

High quality package for existing NatWest customers, provides a range of complimentary insurances as well as NatWest YourPoints

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% min. £3

Surcharge on Overseas Transactions

2.75%

ATM £ Cash Charge Abroad

3% min. £3

Minimum Repayment Amount

£5

Minimum Repayment Percentage

1%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

18

Recommended Minimum Income

£20,000

Annual Fee

No

Annual interest rate on purchases

17.95%

Annual rate on balance transfers

17.95%

Annual interest rate on cash advances

27.95% p.a.

Credit rating needed

Good

Representative example: 17.9% p.a. (variable) on card purchases. Equivalent to 17.9% APR representative (variable) based on credit limit of £1,200.

Virgin Atlantic American Express Black Credit Card

0% on balance transfer for 6 months, and 6,000 Virgin bonus Flying Club miles on 1st purchase

2%

47.2% APR

Key points View card rates

Now with dual Amex & Visa cards
6,000 free Flying Club miles on 1st purchase
Double miles - Virgin Hols & Virgin Atlantic
0% on balance transfers for 6 months

Annual fee
No transfers from MBNA or Virgin cards

Key Selling Point

Flagship credit card perfect for regular Virgin flyers, now with generous 6,000 bonus Virgin Flying Club miles.

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

2%, minimum £3

Surcharge on Overseas Transactions

2.75%

ATM £ Cash Charge Abroad

2%, min. £3

Minimum Repayment Amount

£25

Minimum Repayment Percentage

1%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

23

Recommended Minimum Income

£20,000

Annual Fee

£140

Annual interest rate on purchases

18.9%

Annual rate on balance transfers

18.9%

Annual interest rate on cash advances

20.9%

Credit rating needed

Good

Representative example: 18.9% p.a. (variable) on purchases. Equivalent to 47.2% APR representative (variable) based on credit limit of £1,200.

BA Premium Plus American Express Credit Card

18,000 bonus Avios if you spend £3000 in the 1st 3 months

3%

50.1% APR

Key points View card rates

Summer promotion, 18,000 free Avios
Best Avios card
Purchase protection & travel insurance
Companion ticket on spend over £10k p.a.

Annual fee

Key Selling Point

Big Avios collecting opportunity, comprehensive travel insurance

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% min £3

Surcharge on Overseas Transactions

2.99%

ATM £ Cash Charge Abroad

3% min £3

Minimum Repayment Amount

£5

Minimum Repayment Percentage

2.5%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

18

Recommended Minimum Income

£30,000

Annual Fee

£150

Annual interest rate on purchases

19.9%

Annual rate on balance transfers

N/A

Annual interest rate on cash advances

27.9%

Credit rating needed

Good

Representative example: 50.1% p.a. (variable). Based on £150 annual fee, assumed borrowing of £1,200, rate of interest (variable) annual 19.9% / 1.53% per month.

American Express Starwood Preferred Guest Credit Card

10,000 bonus Starpoints when you spend £1000 in 1st 3 months

3% handling fee

34.5% APR

Key points View card rates

Starpoints on all your spending
Starpoints transferrable to airline programs

£75 annual fee

Key Selling Point

Great if you're a regular guest at Starwood hotels or resorts

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% handling fee, min £3

Surcharge on Overseas Transactions

2.99%

ATM £ Cash Charge Abroad

2.99%

Minimum Repayment Amount

£50.00

Minimum Repayment Percentage

10%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

21

Recommended Minimum Income

£30,000

Annual Fee

£75.00

Annual interest rate on purchases

19.9%

Annual rate on balance transfers

19.9%

Annual interest rate on cash advances

27.9% p.a.

Credit rating needed

Good

Representative example: Typical 34.5% APR variable. Based on £75 annual fee, assumed borrowing of £1200, rate of interest (variable) annual 19.9% / 1.53% per month

American Express Platinum Charge Card

40,000 bonus points on spend of £1500 in 1st 3 months

Charge Card

Charge Card

Key points View card rates

Charge card, so no interest to pay
No pre-set spending limit
Comprehensive rewards program
Travel and personal protection insurance

Annual fee

Key Selling Point

Great rewards and perks if you're a regular traveller

Balance Transfer Limit £

N/A

ATM £ Cash Charge

3%

Surcharge on Overseas Transactions

2.99%

ATM £ Cash Charge Abroad

3%

Minimum Repayment Amount

Full Balance

Minimum Repayment Percentage

Full Bal

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

23

Recommended Minimum Income

No

Annual Fee

£300

Annual interest rate on purchases

Charge Card

Annual rate on balance transfers

N/A

Annual interest rate on cash advances

N/A

Credit rating needed

Excellent

Comprehensive rewards and offers program, priority travel lounge access, priority seating and other travel and car rental privileges. You also get the usual quality American Express travel insurance & their VIP global assistance package.

RBS YourPoints World MasterCard

0% on purchases and balance transfers for 13 months from account opening

2.9% min. £5

17.9% APR

Key points View card rates

RBS YourPoints on all your purchase
0% for 13 months on new purchases
0% for 13 months on balance transfers
Complimentary insurances

No transfers from other NW or RBS cards
No balance transfer offer

Key Selling Point

RBS YourPoints and 0% on purchases and balance transfers for 13 months, complimentary insurances.

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% min. £3

Surcharge on Overseas Transactions

2.75%

ATM £ Cash Charge Abroad

3% min. £3

Minimum Repayment Amount

£5

Minimum Repayment Percentage

1%

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

18

Recommended Minimum Income

£20,000

Annual Fee

No

Annual interest rate on purchases

17.95%

Annual rate on balance transfers

17.95%

Annual interest rate on cash advances

27.95%

Credit rating needed

Good

Representative example: 17.9% p.a. (variable) on card purchases. Equivalent to 17.9% APR representative (variable) based on credit limit of £1,200

Virgin Atlantic American Express White Credit Card

0% on balance transfer for 6 months, 3,000 Flying Club miles on 1st purchase

2%

17.9% APR

Key points View card rates

Now with dual Amex & Visa cards
£ transfers as well as balance transfers
Competitive overall charging structure
Discounts with many Virgin Companies

No transfers from MBNA or Virgin cards

Key Selling Point

Lots of Virgin rewards and discounts. Competitive balance transfer fee and overall charging structure

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

2% min. £3

Surcharge on Overseas Transactions

2.75%

ATM £ Cash Charge Abroad

2%, minimum £3

Minimum Repayment Amount

£25

Minimum Repayment Percentage

1%

Maximum Credit Limit

£50,000

Recommended Minimum Age

23

Recommended Minimum Income

£20,000

Annual Fee

No

Annual interest rate on purchases

17.9%

Annual rate on balance transfers

17.9%

Annual interest rate on cash advances

20.9%

Credit rating needed

Good

Representative example: 17.9% p.a. (variable) on purchases. Equivalent to 17.9% APR representative (variable) based on credit limit of £1,200.

Luxury Credit Card Guide

The key advantage luxury credit cards offer over mainstream cards is the tantalising range of perks and rewards they offer. However, to get a good deal out of a luxury card you’ll have to have a spending profile and lifestyle that enables you to squeeze the best of the freebies.

Typical benefits luxury cards will offer:-

Travel Insurance

Top quality travel cover for you and your family. Luxury card schemes tend to go further than typical ‘high street’ cheap cover and may include items like travel accident, multi trip, cover for your kids and also winter sports.

Spending Rewards

All the best luxury credit cards offer rewards or cash back schemes. Accumulation rates vary between cards and will depend on the type of expenditure you regularly make. Often luxury cards align closely with loyalty with one brand and if you a regular customer of the brand already, these cards could work well for you.

Personal Assistant

A common feature on luxury cards is access to your own Travel Advisor and Personal Assistant. Think of them like a concierge in a luxury hotel. They’re on hand on the end of the telephone and email to make travel bookings and plan itineraries for you, and to seek out tickets and hotel reservations that may elude you.

Airport Luxury Lounge Admission

Do you fancy access to the business class airport lounges when you’re travelling, even if you haven’t paid for a business class or first class ticket? Look out for this feature on the best luxury cards.

Detailed statements with annual analysis

Monthly and annual statements tend to be of a much higher quality with luxury cards with detailed breakdowns of expenditure by type as well as date and amount. Useful if you’re self-employed.

Things to watch out for…

1. If you’re not able to always clear your credit card balance, luxury cards won’t offer you the best deal on interest rates. Think of luxury cards like debit cards with a bonus of luxury privileges. If you want to get the best out of your luxury credit card, set up a direct debit clearing the balance before the due date. If you end up paying interest, it’s likely this will cost more than the benefits of any luxury perks or travel points.
2. Most luxury credit cards charge an annual fee to offset the costs of the perks for customers who don’t spend much money on their cards. There’s been a lot of negative commentary about annual fees. However, if you have the kind of lifestyle through work or pleasure that means you can regularly use the benefits these cards offer, the annual fee will be worthwhile. If you spend over £35k a year on the card and clear your balance on the due date, try this. Phone the customer service team of your chosen card and mention that you’re looking to maybe switch to a competitor card because of the fee, you might find your fee can be refunded!
3. Cash advances on luxury cards will often incur a hefty fee so don’t withdraw cash (particularly abroad) unless it’s a real emergency. There are no rewards or points on cash withdrawals.
4. If you want to get the best deal on charges, by all means buy your travel tickets from UK airlines or operators with your luxury card to get the rewards and protection, but think twice about using it for your day to expenditure when you’re abroad. The surcharges for foreign currency transactions are punitive, you’d be far better off with an overseas credit card.
5. Watch out for “dormancy fees”. If you aren’t spending on the card, the card issuer isn’t making money, but they’re still providing you with all the benefits. Some cards don’t charge an annual fee but instead charge you if you don’t spend any money on the card over the year.
6. Rewards, cash back and travel points will only accumulate on certain classes and types of expenditure. If you’re budgeting on a certain level of rewards from your luxury card, make sure you understand how this fits with your spending patterns. Expenditure on gambling, amounts credited to your card as refunds, fees, interest and cash withdrawals are usually all specifically excluded.
7. Free insurances for things like smart phones and laptops although often inclusive will need to be activated on most cards by filling in a supplementary application giving serial numbers etc

Luxury credit cards will suit you if…

• You travel a lot on business. You’ll have the chance to really use the perks, and soak up the rewards points, particularly if your partner regularly travel with you.

• You incur meaningful levels of monthly business expenses that are reimbursed by your employer.

• You own your own business and can purchase stock or other big ticket items of business related expenditure using your luxury card.

The costs may outweigh any benefit if…

• You aren’t in a position to clear your account on time every month.

• You already pay for or your company provides travel assistance and insurance.

• Your flights or travel are booked for you by a third party company.

In summary!

Our tip with luxury credit cards is really compare the benefits on offer and look at your lifestyle and spending habits; sure many of these cards come with great benefits like concierge services and travel insurance included within the deal, but watch out for the annual fees that come with the territory.

Luxury cards also won’t necessarily work the best for you if you regularly carry outstanding balances on your credit card. Take a look at balance transfer credit cards, or low rate for life cards.