Should You opt for an Exclusive Credit Card?

In the world of credit cards, there are offers that almost anyone can apply for and offers that are exclusive to only a select group of consumers.

If you’re intrigued at the idea of carrying an exclusive credit card, there’s nothing wrong with learning more. Even if you never proceed with the application process, the information you collect can be valuable to your future.

Before you do anything, here are some questions you first need to answer:

• What types of exclusive credit cards are currently available?
• What will you get in return if you qualify for one of these offers?
• What is the annual fee and are you okay paying it for access to top of the line features?
• Could you get the same thing from a “regular credit card” with a smaller or no annual fee?
• Are you able to apply for the exclusive credit card that you want, or does it require a special invite?
• Are you familiar with the eligibility requirements, which typically entails a high income and credit score?

As you answer these questions, you’ll come to better understand what an exclusive credit card has to offer and whether or not it’s the right choice for someone in your shoes.

For example, if you travel a lot, you may find an exclusive credit card that allows you to earn additional points for every dollar you spend, which you can then redeem for everything from airline tickets to hotel stays. Just the same, you may also gain access to a personal concierge who can help you with all your travel arrangements.

With a bit of mystery surrounding them, it’s not always easy to decide if an exclusive credit card is the right choice. However, as you collect more information and compare offers, you can eventually make a confident decision.

Do you have any experience carrying an exclusive credit card? What did you get in return? Do you still have it, or did you move on for some reason?