The Ritz-Carlton Rewards credit card charges an impressive $395 as annual fee, but offers a plethora of features and benefits for card users. The rewards points can be accumulated quickly and redeemed in many different ways – in fact, you can redeem your points in more than 250 ways.

A spend of $4,000 in the first three months of card activation can get you two complimentary nights stay at a tier 1-4 Ritz Carlton hotel.

One of the most interesting benefits that travelers get from using this card is that they can access airport lounges at hundreds of airports spread all over the world.

With this card, you earn five points for every dollar spent at Ritz-Carlton, JW Marriott, Renaissance, and other hotel chains. You’re not restricted to only Ritz-Carlton properties, you can enjoy more and save a lot with this card. Airlines tickets booked with the airlines and not via a travel agency, car rentals, and restaurants net you two points for every dollar. All other purchases get you one point to a dollar. In-room WI-Fi is complimentary for hotel reservations made directly with The Ritz-Carlton, this can be done online, via the mobile app, or in person.

Points accumulated during the year earn you a 10% premium. It’s a thoughtful feature to help cardholders accelerate the rate at which they earn reward points. Each year, you are given three complimentary upgrades to The Ritz-Carlton Club level for stays that extend for seven nights or more.

An impressive $300 annual travel credit can be used by you in a number of ways – baggage fees, seat upgrades, access exclusive lounge areas, and more. Hotel stays of two days and more earn you $100 hotel credit that can be used for dining, spa, and similar activities. Don’t worry about foreign transaction fees on your travels abroad.

In your first year as a cardholder, you are elevated to Gold Elite status, qualifying you for all the accompanying benefits such as exclusive points bonuses, late checkouts, dedicated guest service lines, etc. Maintain this status with an annual net spend of $10,000. Spend $75,000 using this card and you can enjoy the perks that come with Platinum Elite status, such as a 50% bonus on the points you accumulate during your stay at a Ritz-Carlton property and guaranteed room availability at a 48-hour notice.

You should check out the card’s website for periodic offers that can help you accrue more points without having to spend any more than you want to. For example, hold meetings and events at the hotel and get upgraded to Silver, Gold, or Platinum Elite levels. Earn up to 50,000 points or 15,000 airline miles per event for holding receptions, banquets, or reunions at the hotel. It’s nice to have a choice between points and miles.

In addition, if you’re of the opinion that Ritz-Carlton points add to your experience when you stay at a Ritz property, then you may purchase these points at the rate of 1000 points for $12.50.