However, this card usually requires an excellent credit score for approval and has a high annual fee.īut when it comes to perks, it offers benefits that are in line with some of the more premium cards out there, which is why Gene McManus, CFP and CFA, says it's popular with his high-net-worth clients. One credit card that's accessible to people who aren't millionaires is the Chase Sapphire Reserve. Read our American Express Platinum Card review. Flexible points that can be used for statement credits or transferred to airline and hotel partners.Monthly digital entertainment credits**.Annual prepaid hotel credit for eligible expenses.Increased point earning on eligible travel when booked directly with American Express.Weiss says that some of the perks of this card that his clients highly regard include: There is no official income requirement, however, Amex will take your income into consideration when they decide whether or not to approve you for the Amex Platinum Card. It's also not so easy to get your hands on. While this card comes with a wide range of perks that make it seem too good to be true, it also comes with a hefty annual fee, which is higher than most other credit cards. Amex Platinum CardĪccording to Weiss, one of the most recommended cards for high-net-worth individuals is The Platinum Card® from American Express. Here are the credit cards that seem to be the most swoon-worthy for those with a high net worth. 'They've stuck with a small handful of cards over the course of sometimes decades and aren't looking to do anything new here, even though they understand they might not be fully optimized,' says Weiss. So while some people use credit cards in a strategic way to optimize their spending for rewards, Weiss says that most millionaires he works with don't. 'Millionaires want simplicity,' says financial planner R.J. To help me enter the mindset of the rich, I decided to ask financial advisors, who have millionaire and billionaire clients, which credit cards they flock toward. While these cards might not be in my scope of affordability today, knowing what they offer and why some people are eager to get their hands on them can help me see what perks matter to those who have a lot of money. As someone who only opens up a new credit card every five to seven years, I want the next card I go with to have the perks and benefits that make the most sense for my lifestyle.īefore I make my final decision, I want to make sure I'm considering all of the credit cards out there - even ones that seem out of my reach because of their high annual fees or income requirements. Member FDIC.For the past few months, I've spent quality time researching new credit cards. Deposit products and related services are offered by JPMorgan Chase Bank, N.A. Products not available in all states.īank deposit accounts, such as checking and savings, may be subject to approval. JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. Insurance products are made available through Chase Insurance Agency, Inc. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Past performance is not a guarantee of future results. Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. 'Chase Private Client' is the brand name for a banking and investment product and service offering, requiring a Chase Private Client Checking℠ account. is a wholly-owned subsidiary of JPMorgan Chase & Co. “Chase,” “JPMorgan,” “JPMorgan Chase,” the JPMorgan Chase logo and the Octagon Symbol are trademarks of JPMorgan Chase Bank, N.A.

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