Elite travel cards offer exceptional benefits to travelers. One in particular is the SAS Amex Elite, which is considered the most exclusive flight bonus card provided by the brand.
Some of the rewards include the privilege of choosing a trip for two people at half the price twice each year, 20,000 Eurobonus points free each year, keeping you always at the silver status in the bonus level, and discounts exclusive only to SAS members, including faster check-in, extra luggage, and so much more.
Are elite travel cards like the sas amex elite worth it? These travel cards have an appealing appearance, but besides the opulent look, they also offer exclusive benefits.
Like the SAS, some premium offers include lounge access, travel credits, and elite status with accommodations while allowing consumers to earn rewards for each dollar spent. In this vein, however, the cards do have a caveat in that they charge a considerable annual fee.
It can be challenging to justify if you rarely use the perks associated with the card. However, most cardholders in possession of the elite cards take full advantage of the many benefits. It’s merely a matter of deciding which rewards you prefer and the type you’ll strive to earn.
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Reasons To Apply for an Elite Credit Card
An elite credit card has stringent guidelines to qualify for the card, particularly creditworthiness along with financial status and a solid income. The card has exceptional benefits, rewards, and perks, but the caveat is the considerable annual fee attached to most cards.
As someone choosing this card, it’s important to discern whether the rewards will align with your spending habits and lifestyle to offset the annual fee.
The SAS Amex Elite is a one-of-a-kind card offering exceptional bonus points, 20,000 free each year, allowing consumers to remain at silver status in the bonus level, a major perk in itself. Here are reasons elite cards are worth considering despite the considerable annual fee.
Exclusive travel perks
As a rule, elite reward cards are directed toward the consumer who intends to travel. The basis for this is the exclusive benefits these cards provide, like airline lounge access, accommodation stats, check bag credits, concierge services, in-flight meals, and on.
While these cards can come with high annual fees, the value of the benefits associated with the cards far exceed the costs. Click to learn about rewards, including companion tickets.
The welcome offers
The first-year rewards must be considered when looking into elite cards as a possibility for your next travel reward card.
Some elite cards provide as much as 80,000 points with their welcome bonus, with their points in the rewards program being worth roughly “2.0 cents when redeemed with partners for premium travel.” The value for a reward like this can range as high as $1600, and that’s merely one example.
Access to special events
One of the perks of the SAS Amex Elite is access to special events. That’s also true of other premium elite cards where you can secure reservations at some of the most exclusive restaurants in the country. This benefit in itself is worth the value of a high-dollar annual fee.
Luxurious and weighty
Some credit cards are designed to present the owner as a successful, professional, and established individual. When the card is luxurious in itself, it accomplishes this.
One example, in particular, offers a hefty weight with its all-metal body weighing in at 22 grams compared to others coming close at 18 and 13 grams, respectively. Aside from the plethora of benefits it brings, including an annual fee on the lower end of the scale, it makes a presence drawing an audience for that reason alone.
Learn benefits of premium travel cards vs mid-level travel cards at https://www.forbes.com/advisor/credit-cards/premium-travel-cards-vs-mid-level-travel-cards-which-is-better/.
What Are Some of The Downside with Elite Rewards Cards
As with all credit cards, there are downsides to the elite rewards cards despite the many perks, benefits, and rewards. For one, you must meet stringent guidelines in order to qualify for the card.
The issuers expect prospective cardholders to have above-average credit, sound financial standing with exceptional income, and a minimal debt ratio. With the SAS Amex Elite, there is no interest-free period and no interest. The expectation is that the card’s balance will be paid with each invoice.
Balances should not be carried over, so there should be no reason to accrue interest. There should be no delayed or deferred payments. If there is a default, the potential is there for legal recovery. Here are the downsides associated with elite reward cards in general.
Significant annual fee
The primary disadvantage of elite reward cards is the cost of having one. The range of annual fees for having an elite credit card begins at roughly $450 and can soar from that point to well over $500 for some of the more popular choices.
You will find an example of an ultrarare exclusive card that comes with an initiation fee of $10,000 and an annual fee of $5000.
You would most certainly need to ensure that you benefit from this card to offset these extraordinary charges. And that’s true of any of the cards, regardless of the amount for the annual fee.
Before committing, it’s important to look at your spending habits, determine how you will use the card, and discern if you can offset the annual fee by putting the rewards to adequate use.
The fine print
One thing to be mindful of is that some of the perks associated with the elite cards can be challenging to take advantage of. In one example, the card offers a $200 airline fee credit, valid for one airline you choose upfront, and will only serve for incidental expenses such as baggage checks or in-flight meals.
With this same example, the card offers $200 in rideshares that are provided monthly, but any unused ones are lost. These cannot be rolled over from one month to the next.
Again, make sure the benefits associated with the card are things you’ll be able to take advantage of and will ultimately offset the cost of the card. If there are caveats at every turn for a particular card, it might not be the right elite card for your needs.
With the elite credit cards, you’ll find the APRs are considerably higher, but it’s unusual to find offers for introductory rates for things like balance transfers. That can make them a less favorable choice if you carry a balance periodically.
However, the objective when having an elite card is to pay the balance in full with each invoice instead of carrying a balance.
How To Decide on an Elite Credit Card
If you believe an elite card is right for you despite the cost associated with the card, it’s wise to compare the travel perks you will use with the exclusive card. For those who travel frequently, airline perks are worthwhile.
Travel insurance is offered with the SAS Amex elite, a valuable perk for those who take frequent holidays.
Elite credit cards’ primary valuable perks are directed at travelers or those who prefer to travel in comfort. The priority is to use the perks, benefits, and rewards sufficiently to offset the high-dollar annual fee.
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