American Express Centurion (Black) Credit Card

1. 1. A.J. - IAmFacingMillions.com

   Wow… where do I sign up???

   I guess it’s one of those “if you have to ask, you can’t afford it” type things… :)

   Aug 6th, 2007 @ 6:30 am

2. 2. traineeinvestor

   These have been around for a few years. There are people who have to fly a lot who do get their money’s worth from the benefits (or at least claim to do so). It’s also not that hard to get an invite if you meet the basic criteria.

   Needless to say, I do not have one.

   Aug 6th, 2007 @ 8:04 am

3. 3. The Financial Blogger

   It sounds like a great way… to waste money in credit card fees!
   However, I do believe that this “mystic black credit card” existed at some point. I remember, 15 years ago, my father use to have an American Express who seems not to have any limit on it. The only trick was that he had to pay it all at the end of the month. Nonetheless, as it was 15 years ago, maybe the limit was something like 20K and seemed limitless back then!

   Aug 6th, 2007 @ 8:24 am

4. 4. A.J. - IAmFacingMillions.com

   I used to have an American Express corporate card. I was so frustrated when I first got it. They tell you there is no credit limit, but they do indeed use an internal formula to determine how much you can spend.

   So I signed up for the card. The first time I tried to use it, it was a $1500 computer purchase and the store was prompted to call in for authorization. They handed me the phone and the American Express person explained to me that my “no limit” card had a $1,000 credit limit.

   What she also explained however was that once I charged $1,000 and paid it in full, it would automatically be increased to $2,000 the next month. Basically, at that time, at least the way it was explained to me is that they set an initial limit (behind the scenes) and then whatever you charge and pay off, you are limited to between 1.5 to 2 times that amount in the future.

   In that business, it was not uncommon for me to do $10,000+ purchases and I bought the card for the convenience because my bank debit card had a $3,000 daily spending limit and while my suppliers didn’t require a check up front, when I walked into retail, not everyone is all that keen on taking a $10,000 business check.

   It took me about a year to get the card to where I could actually freely use it as desired (for purchases of say $10,000) and even then if I happened to be in a month where I needed to make 2 such purchases, I was out of luck.

   Aug 6th, 2007 @ 8:32 am

5. 5. FrugalTrader

   AJ, I had no idea that AMEX used that kind of formula to determine credit limits. Good to know. Any other downsides to AMEX (besides limited availability in Canada)?

   Aug 6th, 2007 @ 8:42 am

6. 6. Jon Lee

   I thought this card was invite-only?

   Aug 6th, 2007 @ 12:09 pm

7. 7. FrugalTrader

   Jon, to be honest, i’m not sure. It would make sense if it was though.

   Aug 6th, 2007 @ 12:35 pm

8. 8. oOKitijimaOo

   One of my friends in HK has one for himself and his father. They seem to be abundant over there.

   Aug 7th, 2007 @ 1:36 am

9. 9. Centurion holder

   Have it! Titanium is a draw back - does’nt work in taxis, ATMs and other payment machines.
   But it looks good and it draws attention.
   If you want the service - rather try Quintessentially’s Beyond Black card…..

   Aug 7th, 2007 @ 2:12 pm

10. 10. Anne

    Doesn’t cost anything like that amount in the UK - no sign-up fee and the annual cost is substantially lower. As is the annual spend - I didn’t spend anything like that amount on my Amex annually when I got the invitation from Amex to sign up for the Centurion card.

    As for credit limits, I haven’t managed to find mine yet despite air fares and the like. I use it - as I used the previous Amex card - for business expenses because I work with/for clients shallow enough to be impressed by it. Which is why I have it - if they’re stupid enough to think I’m a better lawyer because of the colour of my credit card, so be it.

    I’m a corporate lawyer, by the way. Probably says all you need to know .

    Aug 13th, 2007 @ 4:00 pm

11. 13. MOMMA

    I WORK AT A HOTEL AND HAVE NOW SEE 3 OF THESE BLACK CARDS IN A MATTER OF 1 WEEK. THE FIRST GUEST TO PULL HIS OUT OPENLY INFORMED ME HE HAD TO SPEND A MILLION A YEAR TO GET HIS AND BOASTED OF OWNING VARIOUS PRO SPORT TEAMS. THE OTHERS FOLLOWING HIM SEEMED LIKE REGULAR PEOPLE WHO JUST SO HAPPENED TO HAVE THESE FANCY CREDIT CARDS. PERSONALLY I FIND THAT ANY FORM OF DEBT IS STILL DEBT, WHETHER YOU ARE RICH AND FAMOUS OR NOT. YOU STILL OWE SOMEONE MONEY AND YOU STILL PAY INTEREST. THE WAY THEY MAKE IT SOUND IS THAT IT IS LIKE PLAY MONEY IN THE FORM OF TITANIUM.

    Aug 24th, 2007 @ 12:11 am

12. 14. Cannon_fodder

    For $5 there is a kid in downtown Toronto who will work with your existing credit card and issuer to ensure you, too, can have a ‘black’ credit card.

    I believe it involves the use of a black permanent marker…

    Aug 24th, 2007 @ 9:33 am

13. 15. I am Legion...

    There USED to be an American Express “Diamond Card”. It was black, and it had a diamond on it. This is where the initial mythology arose from. In recent times (last decade or so), the card was resurrected in the form of the “Centurion Card” a.k.a.: Black Card. As with ALL American Express Cards, your spending history determines your credit limits. I have the Platinum business and personal cards, my spending is limited only by my history and bank accounts. I’ve tried since 1990 to get the Black card, but those bastards at Amex have insisted that you spend a certain amount. In the past, the spending requirement was approximately $125K per year, then it rose to $160K (which I missed by a few dollars the year it changed…), and now it’s a cool $250K that’s necessary to qualify for the card. As far as your INCOME is concerned: that’s not really a factor. I was lying to them at 18 years old telling them I made over $175K a year….that got me the green and then the gold rather quickly. The spendng limits were lower for Platinum cards and I was quickly invited. Anyway, I’ve busted chops by calling Amex periodically and throwing tantrums about the Black Card…..I’ve even told them I’d cancel the Platinum card if I couldn’t get the Black. Unfortunately nothing I could do would sway them…
    Bottom line: spend alot of money ($250K) in one year and you CAN call and ASK them to qualify you for the Centurion (Black) card. They will put in an application. Every time I’ve been denied it’s only been for lack of spending…

    Of course it’s only a silly obsession for me. The card really doesn’t have markedly more benefits available for the price. The Platinum card gives you practically everything except the same travel benefits…

    I can most assuredly say that I only want the card for shock value. The reality is that every time I’ve seen one my mental gears get moving and crank out the same idea: “That person spends alot of cash…they must be important or something”. It’s not conscious…but it does have that impact, vapid as it may be.

    Nonetheless….the card is accessible if you’re willing to shell out the bread mentioned above. Anything can be bought for a price. Even that F-ing Black card. When I get around to it…I’ll get it and start flashing it round….(heheh)

    Sep 13th, 2007 @ 2:00 am

14. 16. knowitall

    If you have a Platinum or Centurion “Charge Card” you will never have a limit. You always have to pay that at the end of the month. The Centurion Card was introduced in the last 6 years. Its very cool.

    Sep 15th, 2007 @ 5:55 pm

15. 17. Ummm X

    Charge cards don’t have pre-set spending limits but that does not mean unlimited spending. They work by consolidating your regular expenses. Purchases are approved or declined based on financial information and history. Charge cards generally have higher annual fees than credit cards, and therefore more inclusive insurances and features. By using charge cards you get something back for charging instead of using cash/bank card.

    Oct 17th, 2007 @ 8:52 pm

16. 18. old news...

    this is all old news, i called up 4 years ago and got this business black card.

    I used it to the bone. travelling 3 of those years and getting everytime a flight upgrade, hotel upgrades, suites, and i had listed all my friends and family on their birthday lists with what their hobbies were and 7 days before each birthday they would call me up and ask me about what i wanted to send them and evene the content of the letter.

    this card actually saved me money. I have gone to resturants in L.A, NY, Las Vegas, london, paris, munich, berlin, seattle, vancouver, mexico city and more and they have made the price of the meal free and i only paid for the bottles of wine.. ($500 each two bottles or one bottle sometimes, $250 in food) also ANY high end club that I used the card would get me a VIP table and one security guard standing close by…

    the rules have changed now and some items have been dropped. i have changed over to the bank of america infinte card and merryl lynch cards..

    there are other services like Quintessentially and others that offer more… also they are very exclusive….

    i hate to say it now but unless you have a million dollars house and actual offer to pick the tab up on over $1500 meals “just because ” dont get the card… people will know you are a poser…

    good luck,

    tchau

    Oct 28th, 2007 @ 12:03 pm

17. 19. Alex

    The Centurion card is not available in Canada. I actually called them to complain as to why I was not invited since one of my friends in the US was recented invited. I spent over $1M in 07 for business and personal on my AMEX Gold Corp card, and called them quite upset, as it turns out the Rep on the phone hadnt even heard about it and I had to speak with a supervisor.

    Mar 3rd, 2008 @ 5:01 pm

18. 22. rob

    who cares!

    Nov 20th, 2008 @ 2:30 pm

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