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Exclusive credit cards with luxury benefits often come with hefty annual fees, so if you do not use the card's benefits, you may better be off with a lower tier credit card that has lower or no annual fee. However, exclusive credit cards justify their high annual fees by offering high-end benefits you can't get with a less expensive credit card. If you can put the benefits to use, you can easily cover the high annual fee of a premium credit card.

Also, make sure a premium credit card allows earning rewards. Since many prestigious credit cards are travel credit cards with rewards that are given for spending with a particular airline or hotel, you may not earn rewards on other purchases you make. If you want to earn rewards on all your purchases, check out regular credit cards with rewards instead.