Elan Premium Credit Cards: Are the Rewards Worth the Annual Fee?

What makes a premium credit card?

Premium credit cards generally charge higher annual fees in exchange for enhanced rewards and a bundle of travel and lifestyle benefits. According to the Consumer Financial Protection Bureau's market report for 2025, the average annual fee on general purpose credit cards rose from $105 in 2022 to $127 in 2024—a 21% increase. The report notes that these higher fees are largely driven by premium card products that offer greater rewards earn rates and perks like airport lounge access, hotel status upgrades, monthly credits for ride-hailing or food delivery, or fitness programs.

Many cardholders with superprime credit scores are the ones paying annual fees, usually to get access to attractive rewards programs. For anyone weighing a premium card, the key question is whether the extra earning potential and benefits outweigh the cost of the annual fee.

Sources: Consumer Financial Protection Bureau

Elan's premium card lineup

Elan Financial Services partners with more than 1,400 financial institutions to offer credit cards under a variety of brands. Among its consumer offerings, Elan's premium cards include the Visa Reserve Rewards+ and the Visa Signature Travel Rewards+. These are available through partner banks and credit unions, so the exact card names and terms may vary by institution.

The Visa Reserve Rewards+ is positioned as Elan's top-tier rewards card, while the Visa Signature Travel Rewards+ focuses on earning points on travel and everyday spending. Both cards come with travel-related benefits, but their fee structures and earning rates differ.

Sources: NerdWallet, Elan Financial Services, Desert Financial

Rewards rates and categories

Elan's premium cards offer different earning structures. The Visa Reserve Rewards+ earns 2 points per dollar on eligible net purchases, and 6 points per dollar on prepaid airfare, car rental, and hotel reservations booked directly in the Rewards Center. The Visa Signature Travel Rewards+ earns 1.5 points per dollar on eligible purchases, plus 4 points per dollar on qualifying travel, gas, entertainment, and recreation purchases.

These rates are significantly higher than what you'll find on many no-annual-fee cards, which typically earn 1 point per dollar on most purchases. However, your actual earning potential depends heavily on your spending habits and how much you can put in the bonus categories.

• Visa Reserve Rewards+: 2 points per dollar base; 6 points per dollar on prepaid travel booked via Rewards Center.
• Visa Signature Travel Rewards+: 1.5 points per dollar base; 4 points per dollar on travel, gas, entertainment, and recreation.

Sources: Elan Financial Services

Travel and other benefits

Premium cards often include travel perks that can offset their annual fees if you use them. The Visa Reserve Rewards+ comes with a $100 annual travel credit and a credit for Global Entry or TSA PreCheck every four years. It also includes a complimentary 12-month Priority Pass Select membership with eight free visits to airport lounges.

The Visa Signature Travel Rewards+ offers a complimentary 12-month Priority Pass Select membership with four free visits to over 1,600 airport lounges. Both cards also include standard Elan benefits such as zero fraud liability, emergency card replacement, free credit score access, and 24/7 online account access.

• Visa Reserve Rewards+: $100 annual travel credit, Global Entry/TSA PreCheck credit every 4 years, Priority Pass Select with 8 free lounge visits.
• Visa Signature Travel Rewards+: Priority Pass Select with 4 free lounge visits.
• Both cards: zero fraud liability, emergency card replacement, free credit score access, 24/7 support.

Sources: NerdWallet, Elan Financial Services

Annual fees and value analysis

Annual fees are a central consideration when choosing a premium card. The Visa Signature Travel Rewards+'s annual fee is not specified in the available sources; because Elan cards are offered through partner institutions, the fee may vary depending on the bank or credit union you apply with, so you'll need to check with the issuing institution.

For the Visa Reserve Rewards+, the $390 fee can be partially offset by the $100 annual travel credit and the value of the 8 free lounge visits. For the Visa Signature Travel Rewards+, you'll need to weigh the value of its earning rates and lounge visits against whatever fee your institution charges.

Another factor to consider: Elan reward points expire five years after they are earned, so you'll need to redeem them in a timely manner to get the full value. And remember, the value of any premium card depends on your individual spending and whether you'll actually use the perks.

Sources: NerdWallet, Elan Financial Services

Pros and cons of premium cards

Premium cards can be a great deal for frequent travelers and big spenders, but they're not for everyone. Here are some general pros and cons to consider.

• Higher rewards rates, especially on travel and dining.
• Travel perks like airport lounge access and travel credits.
• Additional benefits such as Global Entry/TSA PreCheck credits.
• Welcome bonuses may be available from some partner institutions; check current offers.

Side-by-side category and decision-criteria matrix

When comparing Elan premium cards, it's helpful to assess them based on your spending patterns and travel needs. The table below outlines key decision criteria for the two main premium cards discussed here, based on available data. Some criteria, such as the Travel Rewards+ annual fee, are not specified in the available sources and may vary by partner institution.

Sources: NerdWallet, Elan Financial Services