High earners could be even better off with the right credit card

For the average consumer in the UK the most notable perks of a credit card are convenience, flexibility, and rewards such as cash back, rewards points, or special interest rates.

However, for those on high salaries who may be entitled to apply for some of the top cards available from credit card issuers, the perks can be very different and very valuable. It seems that those that are well off and are on the type of salary that is required to quality for elite credit cards could be even better off with the right card.

Amongst the elite credit cards available are the Natwest Black Credit Card, the Barclays Infinite Card, the American Express Centurion card, and the Morgan Stanley i24 card. In some cases you cannot apply for these cards unless the card issuer or bank invites you to do so. In other cases, you can make an application but have to be on a minimum salary in the region of around £70,000 per annum or more. The annual fees on these cards can be high, for instance the Natwest Black card has an annual fee of £250. However, the card issuers state that the perks provided are more than worth the fee.

Amongst the perks offered on some of these cards are trips to exhibitions and sporting events, travel insurance and ski trip cover, European breakdown cover, twenty four hour live assistance, airport privileges, and more, although the fees and the benefits can vary from one elite credit card to another.

Natwest Black offers an around the clock concierge service to sort out problems, in addition to a range of other perks and benefits. One cardholder who holds a Natwest Black credit card stated: 'I work seven days a week and have no time to plan trips, so I use the concierge available via my card to book holidays. I even used the service when I had a disaster with a toilet cistern at home. NatWest Black organised a plumber and it was repaired free.'

Tom Smith
3rd March 2007

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