Premium

Premium credit cards have extensive benefits, and are known as a status symbol that holds prestige. The benefits include concierge services and access to first-class airport lounges. If you love travelling and eating out, then the premium card is certainly worth considering. Other benefits include:

• A high credit limit
• Travel insurance - not only for you, but for your entire family
• Breakdown cover and roadside assistance
• Rewards points
• Airmiles
• A concierge/personal assistant service

There is usually an annual fee involved with a premium credit card, which is usually between £200 and £300 per year, but can be as high as £650. Some exclusive credit cards are available by invitation only, however, most just specify a minimum income that you must meet. In addition to this, you'll need to have an excellent credit history. They seem expensive, but can actually provide great value for money if you're interested in the benefits they have to offer. As a higher earner, who may benefit from some of the great products on offer, it may be difficult to choose the perfect premium card.

Of course, as with all cards, all providers are different. You need to make sure that the amount you spend on a premium credit card is worth it for the amount you get back in benefits.

If you are looking for a card that does far more than other lenders, you will find that premium credit cards are an essential investment. Some premium providers have strong connections with the most prominent names in retail - including Harrods, Harvey Nichols and even Gucci. If you are in town but want to enjoy shopping in privacy and comfort, extended opening hours exclusively for you, as well as personalised gift-wrap and delivery, are all complimentary services that are offered in conjunction with some premium credit cards.

Different premium cards are good for different purposes. For example, whereas one card will be perfect for those with larger salaries who process all of their transactions through one card, the high interest rates levied by another provider could mean that the service isn't ideal for those who need a long-term borrowing solution. If you enjoy living the life of luxury, and you expect the same from your credit card, premium services could offer you perks beyond your wildest dreams.