Have you guys ever heard of the mystic “black” credit card that no credit limit that some rich and famous people use? This card used to be urban legend, but American Express took advantage of the rumour and created their version of the card. The Centurion Credit Card.
I never knew about this card before, but after reading an interesting thread on RedFlagDeals, I thought that I’d share the details with you.
For those of you who are frugal and don’t believe in paying fees for using a credit card, than this article isn’t for you. Believe me because when I read about the fees, all I could think was “who in their right mind…”. But then again, when you’ve got a ridiculous amount of cash, a few thousand bucks isn’t going to mean much.
Here are some details (referenced from wikipedia):
- The card is made from titanium, the only titanium credit card on the market (i’m not sure if I would consider this is a benefit)
- Personal dedicated concierge service and travel agent along with free flight companion tickets.
- Personal shoppers at retailers like Gucci, Escada.
- Access to airport clubs and free first class flight upgrades.
- Hotel benefits like one free stay at every Mandarin Oriental Hotel / year.
- Platinum status for popular US airline point systems.
- $5000 one time initiation fee + $2,500/yr ($7500 fee in your first year!)
- $1500 / year for additional cards (..and I thought $50 for an extra card was expensive)
Do you qualify?
- Minimum annual spending of $250,000
- Exceptional credit history
- I assume exceptional income as well.
Apparently, to date, the largest purchase made on the card was a $30 million dollar jet. Imagine..
Note that this card is currently for U.S residents only. The closest things we have here in Canada is the Visa Infinite card.If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).