What credit card do millionaires use?

Millionaires use credit cards like the Centurion® Card from American Express and the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting. For example, in the case of the Amex Centurion Card – also known as “the Black Card” – you reportedly need to charge at least $100,000 across Amex credit cards every year to even qualify for an invite. 

Credit Cards That Millionaires Use

• Centurion® Card from American Express
• J.P. Morgan Reserve Credit Card
• The Platinum Card® from American Express
• Chase Sapphire Reserve®
• Citi Chairman Credit Card

When invite-only cards aren’t a good option, some millionaires choose premium travel rewards cards such as American Express Platinum card and Chase Sapphire Reserve. People with at least good credit who are approved for either card can expect lucrative bonuses, generous rewards on purchases, and other perks that will more than offset their hefty annual fees. The American Express Platinum card charges $695 a year to own, and Chase Sapphire Reserve likewise carries a big price tag with its $550 annual fee.

Millionaire business owners may also get good use from a business credit card such as the The Business Platinum Card® from American Express, a top choice for frequent travelers who don’t mind shelling out $695 a year for all the high-end perks the card offers. The Ink Business Preferred® Credit Card is another attractive option for business owners with seven-figure incomes, as the card offers stellar rewards on business-related purchases and a significantly lower annual fee ($95) than American Express Business Platinum card.