Big Spender Alert: Credit Card Rewards for High-End Users

by High Yield Savings Accounts

If you’re wealthy enough to own an American Express Platinum or Centurion card, you’ve already been enjoying the more than 40 perks of being a cardholder. But your deal just got even better. American Express recently announced three new perks for high-end customers who also happen to be frequent travelers. The first two perks are for both Platinum and Centurion cardholders, and the last is solely for Platinum cardholders. Although both of these cards come with fairly substantial annual fees, these new programs can definitely benefit the right cardholder.

The first new benefit is Priority Pass Select, which involves access to more than 600 lounges in airports all over the world, a perk that typically costs $399 for unlimited access. In the past, cardmembers could already use American Airlines, Delta and US Airways’ lounges. But with this new program, cardmembers will have additional lounges available to them. Also, cardmembers have the option of signing up for a Priority Pass card, which benefits them with complimentary snacks, refreshments and Internet access in more than 300 cities.

The second new perk added for cardholders is Global Entry credit, which offers expedited clearance for pre-approved, low-risk travelers. Before enjoying these credit card rewards, cardmembers must complete an in-depth background check and interview conducted by Customs and Border Protection. They also have to pay a $100 application fee, which covers them for five years. But if cardmembers pay the fee with their Platinum card, they can request reimbursement. Once completing the screening with CBP, cardmembers can save considerable time when traveling – up to 70 percent of the typical wait time involved in international traveling.

That’s not all: American Express has also become one of a few credit card companies to offer cards with no currency exchange fees for its Platinum cardholders. Cardmembers can make international purchases while saving the 2.7% foreign transaction surcharge.

American Express isn’t the only one courting its high-end users. Chase is partnering with British Airways to offer bonus miles for new enrollees to the British Airways Visa Signature Card who apply by May 6. This is the equivalent of 2 free round-trip flights. Cardholders receive 50,000 miles after their first purchase and another 50,000 miles if they spend $2,500 within the first three months. It’s tempting to take advantage of these kinds of offers, and these programs can certainly benefit a frequent international traveler.


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