- Centurion Member
- Posts: 4042
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
Keep in mind the real requirements! This card isn't for anyone with $10m - it's for people who have $10m and are willing to pay a big chunk of it over to ML each year.
1% of $10m is $100k in asset management fees.
Paying 0.1% of $10m for passive indexes is $10k, and a few hours of a tax planner's time can be had for a little bit more.
So unless your ML adviser can beat passive indexes by a wide margin (since you have to have to overcome higher management fees and tax inefficiency from higher portfolio turnover), the card comes with an enormous 'hidden' annual fee. I don't know many people that would pay almost $90k each year for a credit card.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech