Choosing the premium credit card that's right for you

So American Express hasn't invited you to apply for its fabled premium Centurion card -- aka "black card" -- but you're a big spender who wants access to some extra perks for all the dollars you're dropping. What's an aspiring Daddy Warbucks to do?

The first thing you need to know is that while many cards carry annual fees, sometimes even high ones, this doesn't make them "premium" cards, though they may come with perks, such as the chance to earn rewards at a higher rate or travel-related benefits like insurance.