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In the past, gold credit cards were considered the most elite cards available; it didn’t take long for platinum cards to surpass them. Today, however, gold and platinum cards are easy to get and quite common, leaving little prestige with ownership. Now the most exclusive credit cards available are black credit cards.
Those that wish to flaunt their money today desire black credit cards as the ultimate status symbol.
Black credit cards are only issued to individuals with enormous incomes and large spending habits. Cardholders of these cards expect to be treated very well and get great benefits. And they often do. Perks include receiving excellent personal concierge services.
Black cardholders also get exclusive access to VIP lounges in airports and other events.
All black credit cards on the market today also give their cardholders a host of privileges because of the high income and spending requirements.
Some black credit cards are only available through nomination by an existing cardholder, while some require you to be invited. Still other black credit cards only extend accounts to individuals that have already shown a history of large amounts of spending.
Because of these strict requirements most black credit cards don’t put any sort of credit limit on their cardholders, although a few require all balances to be paid in full each month.
Here’s a quick guide to the five most well-known black credit cards on the market.
1. Visa Black Card
The VISA Black Card offers a number of exclusive entertainment benefits and–although it’s only been out one year–the VISA Black card already has a reputation.
This credit card is made out of carbon material instead of plastic, giving cardholders an extra bragging right. It has an annual fee of $495 and is one of the very few black credit cards that allows applications.
2. Natwest Black Card
This credit card offers time-saving benefits to cardholders, although it’s only available to people in the U.K. The Natwest Black card has a some-what low reputation due to it’s minimum £15,000 ($20,000 USD) credit limit. When combined with an annual fee of £250 this is a relatively small limit.
3. CitiGroup Chairman American Express Card
This credit card is one of the newest black credit cards, although it was scheduled to be discontinued. This credit card never became popular, despite being out for a few years.
4. Bank of America Accolades Card
The Accolades card has a spending limit of $500,000 and an annual fee that is reasonable considering.
Many people have complained about the card, stating that it’s barely better than the American Express Preferred Rewards Gold Card, except this card has double the annual fee. This is yet another black credit card that failed to gain attention.
5. American Express Centurion Credit Card
You must spend over $250,000 per year to qualify for this card and be willing to pay the fees: a one-time $5,000 start-up fee and $2,500 per year. There’s no pre-set spending limit for this card and you’re required to pay your balance completely each month.
This is by far the most prestigious and elite black credit card available today.
Black is the New Black
As you can see, some black credit cards are better than others.
Still, all require high incomes, large spending habits and the ability to pay annual fees that range from $450 to $2,500.
Black credit cards are prestigious for a reason: they cater to the top spenders in the country, offering them the best customer support, great benefits and exclusive privileges. Low rates and a lack of a spending limit are just a couple of the things you can enjoy with a black credit card.