The
Centurion® Card from American Express, better known as the Amex Black Card, is the most prestigious and exclusive card around, and it’s reportedly a great asset for those fortunate enough to qualify for an invitation. Among the Black Card’s reported perks are a do-it-all concierge and airport lounge access. It’s a powerful status symbol, too, indicating the user is extremely well-off.
This is not a card for the general public, however. Most people will not qualify for the Amex Black Card, and based on the perks we know about, most people will save more money with other cards. This card will not make you a celebrity or give you unlimited spending power.
Who Can Apply for the Amex Black Card?
To qualify for the Amex Black Card, you reportedly need to spend at least $350,000 per year on other American Express cards – and pay the monthly bills on time, of course. You also need an income of at least $1 million per year and an
excellent credit score. If that sounds like it’s a bit out of your league, don’t worry; you’re in good company!
How Much Does the Amex Black Card Cost?
If you’re among the lucky few who earn an invitation and get approved for the Black Card, you will have to pay a $10,000 initiation fee and a $5,000 annual fee. For comparison, the average annual fee across more than 1,500 credit card offers is just
$21.58.
What’s So Special About the Amex Black Card?
Unfortunately, more is known about the Centurion Card’s eligibility requirements than what it actually brings to the table. We dug up a few details, though. In addition to a 24/7 concierge that can do everything from booking restaurant reservations to planning a party or even a trip, cardholders enjoy a credit limit that varies over time, hotel and airline perks, and secondary benefits such as travel insurance and extended warranties.
Alternatives to the Amex Black Card
Two of the best alternatives to the Amex Black Card are
The Platinum Card® from American Express and the
Chase Sapphire Preferred® Card. Both are highly rewarding, and they are prestigious but not overly exclusive. These cards require good or excellent credit for approval, along with enough income to afford the monthly bill payments.
For more options, check out the rest of WalletHub’s picks for the
best rewards credit cards available to the general public. You can also
check your latest credit score for free right here on WalletHub to determine what kind of card to target.