What is the black bank card for rich people?
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A black credit card is a type of extremely exclusive credit card that is almost solely reserved for the ultrawealthy. Typically, the cards are available on an invitation-only basis. The threshold for entry into this elite echelon of card ownership is incredibly high, as are the annual fees.
Black card spending requirements
Reports suggest that you need at least $10 million in assets under management with Chase to qualify for an invitation. For the Centurion® Card from American Express, anecdotal evidence says you need to charge six-figures on your other American Express cards annually.
One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.
The Mastercard® Black Card's minimum credit limit is $5,000. Given that the Mastercard Black Card is advertised as a “luxury” card and charges an annual fee of $495, applicants may assume it will have a high limit. That may or may not prove true, depending on the applicant's credit history, income and potential debt.
- Oprah Winfrey.
- Kanye West.
- Kim Kardashian.
- Lindsay Lohan.
- Beyoncé
- Britney Spears.
- Denzel Washington.
- Jerry Seinfeld.
Minimum spending estimates vary from $500,000 to $1,000,000 per year. That said, you can request consideration online if you want to give it a shot. Something to keep in mind: The Centurion comes in both personal card and business card versions.
The American Express Black Card income requirement is reportedly at least $1 million per year. It's rumored that you must also spend and pay off at least $350,000 across your American Express credit cards annually just to get an invitation to apply.
Those seeking a Mastercard Black Card will need a “good” or better credit rating. A good FICO Score is 670 or higher.
How rare is a black card? There are reportedly 20,000 Amex Centurion Card members in the U.S. That means about one in 13,000 people have the card.
Do billionaires use black cards?
What Credit Card Do the Super Rich Use? The super rich use a variety of different credit cards, many of which have strict requirements to obtain, such as invitation only or a high minimum net worth. Such cards include the American Express Centurion (Black Card) and the JP Morgan Chase Reserve.
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
| Credit Card | Best For | Annual Fee |
|---|---|---|
| Centurion® Card from American Express | Most Prestigious Overall | $5000 |
| The Platinum Card® from American Express | Airport Lounge Access | $695 |
| The Business Platinum Card® from American Express | Business Rewards | $695 |
| Chase Sapphire Reserve® | Visa Infinite Concierge | $550 |
Centurion® Card from American Express
A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
What is a black card? The credit card most associated with the phrase "black card" is the Centurion® Card from American Express, or the "Amex Black Card." It was released in 1999 and created such a buzz that other card issuers wanted to create their own deluxe credit cards to reward their highest-spending customers.
The American Express Black Card is an exclusive charge card offered to high-net-worth individuals (HNWIs) by invitation only. The American Express Platinum Card is one tier lower.
The Dubai First Royale Mastercard, issued by Dubai First Bank in the United Arab Emirates, is considered the most exclusive credit card in the world. There's rumored to be only about 200 cardholders out there. And like other cards on this list, it's only available by invitation.
Centurion Card from American Express (aka Amex Black Card)
This card isn't open to the public, and American Express has to reach out to you first to qualify.
But we have it on good authority that celebrities including Beyoncé, Oprah Winfrey, and Jerry Seinfeld, who reportedly received the first-ever Black Card, all carry it. Collectively there are thought to be fewer than 20,000 AmEx Centurion cardholders around the world.
There are several other cards that, although they don't market themselves as “black cards”, come in either dark gray or have black tones likely intended to make them look more swank, like the Chase Sapphire Reserve® and the Marriott Bonvoy Brilliant® American Express® Card (Terms Apply) to name a few.
What benefits does a black card have?
If you want a top-of-the-line travel rewards card with benefits such as a 24/7 concierge service, airport lounge access, including an airport meet-and-assist program, plus a credit for Global Entry or TSA PreCheck, the Mastercard® Black Card™ might be right for you.
Black cards usually require a high level of spending and are invitation-only, but if you have good or excellent credit there is one you can apply for.
- You need an invite from American Express to open the American Express Centurion Card.
- There are no hard-and-fast rules on who gets invited, but it reportedly takes at least $500,000 to $1 million in annual spending.
Read on to learn more. Generally speaking, the highest credit score possible is 850, according to the most common FICO and VantageScore credit models. There are several factors that go into determining a credit score, such as payment history, amounts owed, length of credit history, credit inquiries and credit mix.
The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on all purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card gives about 1% back. Cardholders can also get an initial bonus of $200 cash rewards after spending $500 in...
