A premium credit card is a type of credit card that offers exclusive benefits, perks, and rewards beyond what is typically offered by standard credit cards. These cards often come with higher annual fees but provide premium features such as travel rewards, airport lounge access, concierge services, and more.
Credit cards offer various benefits, including convenience, the ability to build credit history, rewards programs (such as cashback or travel rewards), fraud protection, and purchase protection.
A credit limit is the maximum amount of money you can borrow using your credit card. Credit card issuers determine your credit limit based on factors such as your credit history, income, existing debts, and creditworthiness.
You can avoid paying interest on your credit card purchases by paying your statement balance in full by the due date each month. If you carry a balance, interest will typically accrue on the remaining balance.