What is a black card? A black credit card is a type of extremely exclusive credit card that is almost solely reserved for the ultrawealthy. Typically, the cards are available on an invitation-only basis. The threshold for entry into this elite echelon of card ownership is incredibly high, as are the annual fees.
Although Amex doesn't publish requirements for the card—or its perks, for that matter—it typically extends black card invitations only to high earners who have spent and paid off between $350,000 and $500,000 across all of their American Express accounts in a calendar year.
To earn back in cash the annual fee, the Mastercard Black requires $33,000 in spending. Spend that with the Citi Double Cash and earn $660—more than enough to pay for the best perks offered by the Mastercard Black and then some.
The Mastercard® Black Card™ lets cardholders redeem their rewards for either airfare or cash back. You'll get 2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent.
'Black credit card' is the catch-all term usually used to describe the most exclusive credit cards available to the wealthiest individuals. They are given out by banks to high-earning, big-spending customers and offer impressive perks and very high or unlimited credit.
According to Weiss, one of the most recommended cards for high-net-worth individuals is The Platinum Card® from American Express . While this card comes with a wide range of perks that make it seem too good to be true, it also comes with an annual fee of $695 (See Rates), which is higher than most other credit cards.
There's no credit limit
The American Express Black Card doesn't have a pre-set spending limit, so cardholders can spend as much as they want every month. But that's only the case if they can afford it. The Centurion® Card from American Express is a charge card, so cardholders can't carry a balance.
Good credit required.
The same good or excellent credit needed to get the Mastercard Black Card also qualifies you for the market's best travel rewards cards. So if you check your credit score and discover that it fits the bill, make sure to check out those other offers.
Sorry, Black Cards Are By Invitation Only
Loyal American Express cardholders are likely the most commonly invited, a list that includes both long-time business and personal charge card customers. You can now request an invitation to apply.
What Is the Spending Limit on the American Express Black Card? There is no spending limit with the Amex Black Card. However, balances must be paid off in full every month.
Generally, a card issuer invites only their most loyal customers who spend upwards of six-figures or more a year to become a black cardholder.
1. American Express Centurion Card. The American Express Centurion Card is the most exclusive credit card in the world and commonly known as the “Amex Black Card.” Launched in 1999, American Express has kept it in a shroud of uncertainty, giving it a very high level of status in the minds of consumers.
But we have it on good authority that celebrities including Beyoncé, Oprah Winfrey, and Jerry Seinfeld, who reportedly received the first-ever Black Card, all carry it. Collectively there are thought to be fewer than 20,000 AmEx Centurion cardholders around the world.
EDITOR'S OVERVIEW. The Platinum Card® from American Express is the winner over the Mastercard® Black Card. The American Express Platinum card provides frequent travelers with far better features and much more value overall, despite its higher annual fee.
On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
The Mastercard® Black Card™, which is offered through Luxury Card, is a black-coated metal credit card that exudes exclusivity. However, applying for this card isn't overly difficult since it's available online, and the $495 annual fee (plus $195 for each Authorized User) makes it a lot more affordable.
Naturally, the Luxury Card™ Mastercard® Black Card™ requires an excellent credit score, usually 720 or higher on the FICO index. When being trusted with a high spending limit, you have to have exemplified responsible borrowing behavior in the past, which a strong FICO Score will reflect.
What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
In order to qualify for the Mastercard® Gold Card™, you will need to have 720 - 850 credit and be able to afford the annual fee of $995 ($295 for each Authorized User added to the account).
Both Taeyang and G-Dragon are two of the richest idols in the industry, with their popularity spanning across the world. G-Dragon, as a matter of fact, is one of the richet people in the world right now. Both these idols own the black card and it really comes as no surprise, knowing their net worth and global impact.
The highest level American Express card is the Centurion card, which is also known as the 'black card.
While there are no official reports about the black card selection process, it's believed that only celebrities with a net worth of at least US$16 million and a spending average of about US$120,000 per year are eligible for the coveted card.