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The 4 Best Credit Cards for High-Spending

Do more with what you’ve earned.

Financial advisors for successful professionals, executives, and business owners.

Credit cards designed for people who spend a lot of cash become a conduit to a world of luxury. If your income is high and this type of spending works for you, they’re something to consider as part of your wealth management strategy.

Yet, with so many credit card offerings specifically for high-income earners, which cards deliver the most advantageous benefits for you? 

Navigating the Prestige Credit Card Landscape

For high-net-worth people, the choice of a credit card is less about the transaction and more about the value-add. Prestige cards, such as the Centurion Card from American Express, cater to a lifestyle, offering transactional benefits and exclusive access to events and luxury travel perks. The Chase Sapphire Reserve appeals to those who travel frequently, providing substantial travel credits and streamlined security processes.

Yet, these cards come with a consideration of cost versus benefit. The JP Morgan Reserve, for instance, rewards investment-heavy spending but, like its counterparts, demands a significant annual fee. To be invited to apply for the card, you must maintain an investment portfolio of $10M+ managed by the J.P. Morgan private bank.

The right elite credit card for affluent clients matches your financial strategy and lifestyle, going beyond surface-level benefits to offer genuine, measurable value.

1. Centurion from American Express

Often shrouded in myth, the Centurion AMEX—also known as the Black Card—symbolizes ultra-prestige. Yet beyond its lore lies a suite of services befitting its status, like exclusive travel upgrades and by-invitation-only events. Is its cachet justified? It may well be for those who capitalize on its full spectrum of services.


Exclusivity: The Centurion, or ‘Black Card,’ is not just a payment tool but an emblem of affluence. It is available by invitation to a select few, ensuring its services and perks remain exclusive.

Travel Upgrades: Holders enjoy unparalleled travel benefits, including complimentary upgrades on airlines, personalized travel services, and privileges at luxury hotel chains, which can make frequent travel more comfortable and efficient.

Concierge Service: The dedicated concierge service can handle everything from everyday tasks to extraordinary requests, saving valuable time for the cardholder.


High Costs: The Centurion card has a steep initiation fee and a substantial annual fee, which can be hard to justify unless the cardholder fully utilizes the exclusive benefits. ($5,000 Annual Fee + minimum $250,000 annual spend)

1X Points: While the Centurion card has impressive benefits, its point-earning potential is lacking. Cardmembers earn only 1 point per dollar spent on all purchases within its Membership Rewards program. 

Limited Audience: Its benefits are tailored to the ultra-wealthy and may not align with the financial strategies of even moderately affluent people.

The Centurion card’s value proposition hinges on the cardholder’s lifestyle. It benefits those who actively use its extensive benefits, transforming high costs into valuable investments. The card’s allure is undeniable, but its practical worth is highly individualistic, meriting a careful cost-benefit analysis.

2. American Express Platinum

This card strikes a balance between luxury and practical reward structures. With substantial travel credits and a generous points system, it’s engineered for those who seek value in every transaction. Its merit lies in its ability to convert fees into discernible lifestyle enhancements.


Rewarding Points System: A robust points scheme makes every dollar spent a step towards valuable rewards, including travel.

Travel Credits: Generous annual travel credits reimburse cardholders for various travel expenses, mitigating the annual fee for things like TSA PreCheck applications to Uber credits.

Lifestyle Benefits: Complimentary access to airport lounges, elite status with hotel partners, and dining privileges translate fees into lifestyle upgrades.


Annual Fee: A significant annual fee requires cardholders to use all benefits to justify the cost ($695/year plus $195 per authorized user).

Travel-Centric: The most valuable perks are travel-related, which may not appeal to less frequent travelers.

The American Express Platinum is for those who can harness its extensive travel-centric rewards to offset the annual fee, making every transaction a strategic financial step.

3. JP Morgan Reserve

A bastion of exclusivity, available to select bank clientele, promises a bespoke financial experience. Its rewards are tailored to integrate with significant investment portfolios, challenging the cardholder to leverage its potential fully.

Otherwise known as the Palladium Card, it is the card for the 1% of the 1%. This is an invite-only card, with a reported minimum of $10MM under management at JP Morgan.

It is important to note that the JP Morgan Card is also quite heavy, weighing 27 grams, as it is made with brass and palladium. It weighs almost double that of most other luxury credit cards.

What’s the heaviest credit card by weight?

If you are looking to impress your friends at dinner by throwing your card onto the table, the JP Morgan Reserve is the heaviest credit card.


Select Clientele: Available exclusively to JP Morgan’s private clients with over $10M in managed investments, this card not only offers an air of exclusivity but also ensures privacy, as ownership details are not reported to credit bureaus, thus maintaining the cardholder’s financial discretion.

Rewards Synced with Investments: Its rewards system complements substantial investment portfolios, potentially enhancing overall financial strategy.

Holistic Financial Tool: The card is a junction point for managing spending and investments, streamlining financial oversight.


Niche Audience: Its benefits cater specifically to those with significant investments and banking relationships with JP Morgan.

Optimization Required: To fully benefit, cardholders must actively engage with the card’s features and integrate them into their broader financial activities.

The JP Morgan Reserve card best suits investors actively utilizing its investment-synced rewards, merging spending power with financial growth strategies.

Financial planning that matches your ambition.

Financial advisors for successful professionals, executives, and business owners.

4. Chase Sapphire Reserve

With a robust rewards program and a suite of travel benefits, it stands as a testament to functionality. It’s a card that doesn’t just spend but adds value with every use, making it a contender for those who desire utility as much as luxury.


Rewards Program: The card’s strong rewards structure offers valuable points on various spending categories, not just travel and dining. (Starting at two and up to 10 points per $1 spent on card.)

Travel Perks: With benefits like annual travel credits and comprehensive lounge access, it turns travel into an experience of comfort and ease.

Versatility: Its points can be used for more than just travel, offering flexibility for various redemption options.


Annual Fee: While lower than some ultra-premium cards, the annual fee is still significant and must be offset by utilizing the card’s benefits. ($550/year)

Travel Focus: The highest value still lies in travel-related spending and rewards, which may not suit every cardholder’s lifestyle.

The Chase Sapphire Reserve appeals to those seeking a mix of practicality and indulgence, rewarding a broad spectrum of expenditures focusing on enriching travel experiences.

Here’s a quick recap on all four of these cards:

The Unofficial Fifth Contender: Marriott Bonvoy Brilliant Card

While not officially on our list, the Marriott Bonvoy Brilliant card warrants an honorary mention for its tailored benefits that align perfectly with certain lifestyles. For those who don’t have a preferred airline but prefer to stay in Marriot properties when traveling, this card emerges as a clear favorite. 

Despite its $650 annual fee, the card’s value is pronounced, especially for the frequent Marriott guest. It immediately elevates the cardholder to Platinum Elite status, unlocking complimentary room upgrades at eligible properties—ensuring each stay is as comfortable as it is rewarding. The dining credit of $100 not only enhances the hotel experience but also adds a taste of luxury to every stay. With a rewards rate of 6x points on Marriott purchases and 2x on all other eligible transactions, the card isn’t just a gateway to enhanced travel experiences; it’s a strategic move for accruing points that can be reinvested into future stays, dining, and more. 

Integrating Your Credit Card Into Your Financial Plan

Navigating the world of premium credit cards requires more than an appreciation for their perks—it calls for a strategic approach that aligns with your broader financial goals. Selecting the right credit card is a decision that should resonate not just with your spending habits but also with your overall wealth management strategy.

Optimizing Card Usage with Professional Guidance

Working with a financial advisor can bring a new level of sophistication to your financial strategy. Bull Oak’s fiduciary advisors can provide insights on maximizing reward points, reducing fees, or taking advantage of unique cardholder benefits in ways that contribute to your financial growth and efficiency.

Choosing the right credit card as a high earner is critical to capitalizing on your wealth. Learn how Bull Oak can help you.

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