Premium airline credit cards are known for their frequent flyer perks. However, some luxury airline cards also come with money-saving and shopper-friendly benefits. While the Delta SkyMiles® Reserve American Express Card has a valuable welcome bonus offer and perks designed for Delta loyalists, it also offers purchase protections, airport lounge access and discounts on certain purchases. If you tend to shy away from hefty annual fee cards, consider a few of the underrated benefits, like the Delta companion certificate, to assess whether or not the $550 annual-fee Delta SkyMiles® Reserve American Express Card is a good fit for you.

But first: The well-known reasons

Here’s a list of the well-known benefits of the Delta SkyMiles® Reserve American Express Card.

Welcome bonus offer: Earn 60,000 bonus miles after you spend $5,000 in purchases on your new Card in your first 6 months. Terms Apply.

Bonus miles on Delta purchases: Earn 3x SkyMiles per dollar spent on Delta purchases and 1 SkyMile per dollar on all other purchases. Terms apply.

First checked bag free: The primary cardholder and up to eight companions on the same reservation for a domestic flight can check a bag for free, saving $60 per person round-trip. Terms apply.

Priority boarding: The primary cardholder and up to eight companions on the same reservation can board the plane early with the Main Cabin 1 boarding group. Terms apply.

TSA Precheck or Global Entry fee credit: Worth up to $100 for Global Entry every 4.5 years or $85 for TSA PreCheck every four years (note that the TSA PreCheck application fee was recently lowered to $78). Terms apply.

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Underrated reasons

Annual companion certificate

If you plan on flying at least once a year with a friend, partner or family member, the Delta Companion Certificate can offset a large part of the card’s $550 annual fee.

Every year after renewing your card, you earn a certificate good for one round-trip Main Cabin, Delta Comfort+ or first class ticket for a companion who flies on the same reservation as yours. Terms apply, and you’ll have to pay taxes and fees on your companion booking. Obviously, your value will vary depending on the specific seat and flight you book, but it is not difficult to get several hundred dollars of value out of a round-trip companion certificate.

Fast track to Delta elite status

Delta has four Medallion elite status tiers: Silver, Gold, Platinum and Diamond. Each tier offers incremental benefits, like complimentary upgrades and fee waivers. To earn status, you typically must meet a combination of flight and spending requirements. For example, to earn Silver status, you must:

Earn 25,000 Medallion Qualification Miles or 30 Medallion Qualification Segments, and

Spend at least $3,000 on flights to earn 3,000 Medallion Qualification Dollars.

But Delta SkyMiles® Reserve American Express Card customers get that MQD requirement waived for Silver, Gold and Platinum status if you make $25,000 or more in eligible purchases during the calendar year. The MQD waiver for Diamond status requires you to make $250,000 or more in eligible purchases during the calendar year. This is a nice feature for less-frequent flyers who wouldn’t otherwise meet the elite status requirements. Terms apply.

In addition, cardholders can earn MQMs with the card’s Status Boost program. Here’s how it works:

Spend $30,000 on the Delta SkyMiles® Reserve American Express Card to earn 15,000 MQMs.

Spend $60,000 to earn another 15,000 MQMs.

Spend $90,000 to earn another 15,000 MQMs.

Spend $120,000 to earn another 15,000 MQMs.

Between the card’s welcome offer MQMs and the Status Boost program, you could reach a higher tier of Delta elite status without having to fly at all.