A question of value: What makes a premium card worth it?
For very high net worth (VHNW) individuals, what “premium” means is changing. Partly, that’s down to technology opening up new possibilities. But it’s also about who this audience is becoming. By 2040, Millennials and Gen Z will make up 35% of the VHNW population, bringing different expectations about how financial services should work.
Across other parts of their lives, these customers are used to services that are fast, reliable and tailored to them. Increasingly, they expect the same from their premium card. They’re not looking for more features for the sake of it. They’re looking for services that feel relevant – that fit naturally into how they live, travel and spend their time. When offers feel disconnected or impersonal, they don’t add value. They simply get ignored.
What actually defines value?
At the most basic level, it comes down to getting the fundamentals right. Payments need to work, every time. That means global acceptance, low friction when spending across currencies, and the confidence that a card won’t be declined. Our research highlights that 47% of VHNW individuals see global acceptance as critical, 42% prioritise multi-currency capabilities, and 31% expect a near zero risk of declines. When those expectations aren’t met, it doesn’t just create frustration – it calls into question the value of the product altogether.
This is an important shift. Historically, these features might have been seen as benefits. Today, they are the baseline – the minimum standard required to compete. We often hear from our partners that they want to be seen as “more premium.” But the VHNW individuals we spoke to aren’t asking for more – they’re asking for “more me”, and for services that reflect them better.
Beyond that, value becomes more personal. VHNW clients are increasingly judging services based on how well they fit into their lives. In our research, 78% said benefits tied to wellbeing matter to them, 77% prioritise travel-related experiences, and 72% value access linked to culture and sport.
But this isn’t simply about offering access to these categories. It’s about how relevant and well-timed those services are. The same benefit can feel valuable or irrelevant depending on how well it aligns with the individual. This is where many traditional offers fall short. If a benefit doesn’t feel relevant, it can quickly lose its value – and in some cases, put people off altogether.
As more intelligent services become part of everyday life, VHNW individuals will increasingly expect value to be surfaced for them – not something they have to go looking for. That could mean the right benefit appearing at the right moment, or support being coordinated seamlessly in the background, without compromising security or control.
Clear opportunity for financial institutions
It’s about building relationships that adapt over time – understanding what matters to each customer and delivering value when and where it actually makes a difference.
For providers, that raises the bar. Value is no longer just about what sits on a benefits list. It’s about whether those benefits are actually used – and whether they feel worth paying for.
The providers that succeed will be those that combine trust with services that feel relevant day to day. That’s what will set premium offers apart, and what will build stronger, longer-term relationships with this audience.
Mathieu Altwegg, SVP, Head of Product and Solutions, Visa Europe
