A black credit card is a highly exclusive card provided by certain card issuers and typically set aside for their most affluent clients. It is widely regarded as a symbol of status in popular culture, partly due to the requirement of significant card spending in the tens or hundreds of thousands of dollars to even be considered for one, among other qualifiers. The original black card, the CenturionTM Card, was introduced by American Express in 1999. Five years later, Amex upgraded the premium luxury card from plastic to Titanium, further increasing the allure and exclusivity associated with the card.
Since then, other issuers have introduced their own versions of a black card, although some do not possess the invitation-only exclusivity characteristic of the Centurion Card.
Eligibility for a black card
The criteria for obtaining the Centurion Card are somewhat unclear, with no disclosed requirements from American Express. Some reports suggest that individuals must spend $250,000 to $450,000 or more on another American Express card to even be considered. It is likely that the card necessitates an exceptional credit score of 800 or higher.
Previously, American Express permitted existing cardholders to express their interest in Centurion membership by completing a brief online form. The form is presently unavailable, and it is uncertain whether it will resurface in the future. In the event that it does, it is important to note that the form does not constitute an official card application. American Express has not disclosed the requirements for card consideration or whether there would be any correspondence following the submission of the form.
Benefits of a black card
Similar to other Amex rewards cards, the Centurion Card rewards card spending. Cardholders earn one Membership Rewards point for every dollar spent on eligible card purchases. While this may appear to be a low rewards rate compared to other luxury credit cards, cardholders likely accumulate more than enough rewards given the type of spending typically associated with the black card, regardless of the rate.
As expected, the Centurion Card comes with numerous exclusive luxury benefits, including:
- Access to over 1,200 Global Lounge Collection VIP airport lounges.
- Benefits from the Fine Hotels and Resorts program.
- Complimentary elite status with Delta SkyMiles, Hilton Honors, Marriott Bonvoy, IHG. Rewards Club, MeliáRewards, Hertz Gold Plus Rewards, and Sixt Advantage Circle.
- Access to the Global Dining Collection.
- Customized travel experiences through Centurion Travel Services.
- Dedicated 24/7 customer service.
The Centurion Card also offers various purchase and travel insurance protections.
As anticipated, the Centurion Card is not bound by conventional credit limits and other constraints. Billionaire Liu Yiqian can attest to that after using his Amex Centurion Card in 2015 to purchase the Amedeo Modigliani painting “Nu Couché” at a Christie’s auction for $170.4 million. American Express handles large purchases on the Centurion Card on an individual basis based on its ongoing relationship with the card member.
Cost of an Amex black card
According to the most recent cardmember agreement from American Express, the Centurion Card requires a $10,000 initiation fee and a $5,000 annual fee. Amex charges $5,000 annually for up to two authorized users on Centurion Card accounts.
Other notable black cards
Other card issuers have introduced premium luxury cards similar to the Centurion Card, featuring varied benefits, prerequisites, and fees. While not all these cards are black cards based on card design, they offer comparable exclusivity and are accessible by invitation only.
- J.P. Morgan Reserve® Card.
- Citi Chairman® American Express® Card.
- Coutts Silk Charge Card.
- Merrill Lynch Octave Black Card by American Express.
- Stratus Rewards Visa Card.
Luxury Card offers three premium credit cards that provide exclusive benefits and perks that applicants can apply for:
- Mastercard® Gold Card™.
- Mastercard® Black Card™.
- Mastercard® Titanium Card™.
If you are a billionaire or Middle Eastern royalty, you may be eligible for the even more exclusive Dubai First Royale Credit Card from the Bank of Dubai. The card is adorned with real gold and a .235-carat diamond embedded in its center.
Alternatives to black credit cards
It is not necessary to possess an exclusive black card to access luxury benefits. There are several other rewards credit cards available to qualified applicants that provide rewards and come with premium travel benefits and other perks.
Consider these alternatives if you do not receive an invitation for a black credit card.
Should you accept a black credit card invitation?
If you receive an invitation for a black card from American Express or another card issuer, assess the benefits it offers in comparison to other cards before accepting the offer. If you have been invited, paying the initiation and annual fees is likely not an issue. A black card unlocks rare perks and nearly limitless spending privileges. Nonetheless, the other features of the Centurion Card do not largely differ from Amex’s Platinum Card, which costs significantly less.
Is a black credit card right for you?
Because of the atypical structure and privileges of the Centurion Card, evaluating its worth or comparing it with other cards can be challenging. If you receive an invitation for any black credit card, think about how having it would enhance your life to determine whether it is suitable for you.
TIME Stamp: If you are invited to get a black card, you can afford it—but may not need it
Black credit cards are best known for their virtually unlimited spending limits. If you wish to purchase a yacht with a credit card, a black card should make it feasible. Even without the yacht, there may be situations in your life where it is beneficial to have an enormously high credit limit.
The fact that you cannot apply for one but must be invited makes receiving an invitation flattering—and theoretically makes these cards highly coveted. Their benefits geared towards status-conscious individuals are intended to make cardholders feel pampered and superior. However, even if you are wealthy enough to qualify for a black card, it is prudent to first consider if the exclusive perks are worth the substantial cost, which can easily amount to five figures and, over time, potentially even six.
Frequently asked questions (FAQs)
Which is the most expensive black credit card?
The American Express Centurion Card is the original black credit card and still the most expensive, requiring a one-time initiation fee of $10,000 and a $5,000 annual fee. Other black credit cards have annual fees ranging from $495 to $1,500.
Are there drawbacks to having a black credit card?
The downsides of a black credit card are solely related to finances. They entail high initiation and annual fees, a high income requirement to receive an invitation, and generally come with a substantial minimum spending requirement.
What is the limit on a black credit card?
This varies and is frequently unspecified. The Citi Chairman® American Express® Card has a limit of $300,000, while the Amex Centurion Card lacks a traditional credit limit altogether. Instead, Centurion cardholders collaborate directly with American Express on a case-by-case basis for larger purchases.
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