The Citi AAdvantage Executive World Elite MasterCard is the high-end credit card linked to American’s AAdvantage program. High end as in a $450 annual fee.

That’s a high price to pay for a credit card, to be sure. But this one, like similar offerings from Delta and United, comes bundled with a host of travel perks:

• Admirals Club membership
• First checked bag free for the primary cardholder and up to 8 travel companions
• Priority check-in, screening, and boarding
• No foreign transaction fees
• $100 statement credit to offset the fee for Global Entry or PreCheck
• 25% discount on inflight purchases
• 10,000 bonus elite-qualifying miles after spending $40,000
• Reduced mileage awards

The normal sign-up bonus for the card is 50,000 miles after spending $5,000 in three months. But “for a limited time” (no published end date), the bonus has been increased to 60,000 miles.

Deal or No Deal

The cost of an Admirals Club membership alone is as much as $500. And assuming an AAdvantage mile is worth around 1.2 cents when redeemed for free flights, the bonus is worth an extra $720. So on paper, it’s easy to justify the $450 annual fee.

Of course, the value proposition is only a positive one if the card’s perks will be used by the cardholder. Infrequent flyers are unlikely to get their money’s worth from such a pricey card.

Bottom line: If you travel frequently on American, this would be a good card to have in your wallet. And with the increased bonus, this would be a good time to get it.

Reader Reality Check

What’s in your wallet?

After 20 years working in the travel industry, and almost that long writing about it, Tim Winship knows a thing or two about travel. Follow him on Twitter @twinship.

This article first appeared on SmarterTravel.com, where Tim is Editor-at-Large.