Posted on Monday, 29th June 2009 by Sam
There was a time when Gold credit cards were considered to be elite. Soon after that, it was platinum cards. Now, both gold and platinum cards are widely accessible and there is not much prestige attached to them anymore. Currently, the most prestigious, elite and exclusive credit cards available in the market are black credit cards.
The Exclusive Benefits of Black Credit Cards
The black credit card is one of the best status symbols for those who wish to flaunt their wealth. Considering the availability of black credit cards is restricted to those with extremely high incomes and spending capacities, possessing a black credit card makes an invaluable statement about your worth. The cardholders expect to get star treatment, and they often do. You will get personal assistance from the concierge to help you with your business, personal, travel, gifting and entertainment needs. You will get access to some of the most exclusive perks in the world like access to VIP access lounge at airports across the world. You will be wooed by luxury brands as you shop. You will also get once-in-a lifetime opportunities to experience the unthinkable like a zero gravity flight.
Features
All black credit cards offer exclusive privileges to their users. They all require high income and high spending capacities. While some black credit cards are only available by invitation, some others are only available through nomination by an existing card holder. Some black credit cards are made available to existing customers with very high spending records. Most do not impose any credit limit on their usage, or it is an extremely high limit. Some black credit cards are required to be paid in full every billing cycle while some others are not.
Comparison
Let’s do a quick comparison of some of the most luxurious black cards in the industry:
American Express Centurion Credit Card
This credit card has been awarded the honor of being the most prestigious credit card by Luxury Institute, New York. You can get a Centurion card if you spend over $250,000 a year and it attracts a very high annual fee - a one time initiation fee of $5,000, plus $2,500 annually. It has no preset credit limit. You also need to pay your outstanding balance every month. This is by far the most popular and sought after black card out there.
Bank Of America Accolades Card
Accolades credit card offers services that are similar to the Centurion, but not quite in the exact same range. The card comes with a spending limit of $500,000 and has a relatively reasonable annual fee. However, critics have argued the benefits and perks offered by this card are not much better than the American Express Preferred Rewards Gold Card, which has an annual fee of half the price. This card has been out a while but has yet to gain popularity and prestige.
Citigroup Chairman American Express Card
One of the latest black credit cards, it offers premium services and privileges to its users. This card was scheduled to be discontinued, but upon checking the Citi website, it still appears they are offering the Chairman card. Although this one has been out for several years, it has failed to catch much popularity. Cardmembers on Credit Card Forum have stated it doesn’t appear Citi makes much of an effort with this card.
Natwest Black Card
This black credit card also offers a number of premium, time saving benefits that are perfectly suited to the kind of people who will be using this card. This card is only available in the United Kingdom. The credit limit with this card is dismal compered, their site stating they will give you a “minimum £15,000 credit limit,” which is just more than $20,000 USD. Considering the annual fee is £250, that is a lot to pay for such little spending power and only average benefits.
Visa Black Card
Another one of the latest entrant in the black credit cards niche, this card also offers some very exclusive entertainment options to its members.This card has already gained quite a bit of popularity and prestige despite only being out barely a year. It is actually not made out of plastic, but rather a carbon material. It is one of the few cards available by application and has a relatively reasonable annual fee of $495. This site is honored to be part of their advertising program - to learn more about it, visit our Visa Black Card review.
Tags: black credit cards
Posted in General | Comments (4)
June 30th, 2009 at 2:18 am
I know someone with a Centurion Business card. I was surprised at how heavy it was when I held it!
July 9th, 2009 at 11:31 am
Are you sure the Citi Chairman card is still avail? I could have swore they ended that card. It never caught on like you said so I think that’s why they put the kabosh on that one. The Visa Black looks pretty cool but I have yet to see one in person yet.
December 15th, 2009 at 11:32 pm
I have a black centurian and I am cancelling it, this month. The fee has tripled to $2700 wheares the service has declined substantially. They really dont care for their customers.
December 29th, 2009 at 11:40 pm
Yes, Citi Chairman is alive and avaible. I feel that American express Platnium is better with travel personal.