I'm no expert on the black card, but again, I've come across info on it during my internet travels. Here's a description of some of the perks: http://home3.americanexpress.com/corp/latestnews/centurion_launch.asp I believe you must charge $150K annually, be a Platinum card holder in good standing, and pay an annual fee of $2500... either that or get invited by AMEX.
I have a 560 or a 580, can't recall which. The two factors I always get back when trying to obtain a loan, for anything, are 1) insufficient credit history and 2) insufficient employment length. There's a third factor I'm sometimes denied on and thats length at residence, since I move on average twice a year and its been that way since I've been back in California for 3 years.. On the other hand, giving up the stability means I've increased my income by 40% in 3 years. Hopefully once I start settling down (my new years resolution), I can make some big changes to my rating. Underwriters can kiss my pale white ass until then. Sunny
There are a few good threads in the archives about AMEX black cards. If you travel extensively they can be well worth the money if you don't mind being "marked" as a person with lots of cash.
Doesn't it go against your credit everytime a credit search is done on your records?? So wouldn't this concept be bad for you?
Enter the world of hard vs soft credit inquiries. A hard inquiry is usually made when one applies for a loan or (sometimes) a credit card. It can be made in other situations, but this is the most common time a hard inquiry is made. When a hard inquiry is made, it can count against your score. A soft inquiry does not go against your score. This is the type of inquiry made when you check your credit report/score. Whenever a company says they are pulling your credit report/score, ask if its a hard or soft inquiry.
I saw on that Robin Leach show the other night that to qualify for an AMEX Black Card you had to be invited by them, and also spend at least $150K annually. $150K is a good amount of money, but it's not really "crazy" spending. You would think the requirement would be at least a million.
The requirements stated already about the Centurion Card, aka "Black Card" are true. You must charge at least $150k on an AMEX card per year, meet credit requirements, and by invitation ONLY. Annual fee is $2500, and $1500 any for additional cards. Some Perks of the card: 1. Free upgrade to all GOLD elite status on participating Frequent Flier Programs (delta, continental, are the big ones, but NOT United Airlines), which means FREE upgrades to business class whenever seats are available 3-5 days in advance of departure 2. Centurion Concierge service ---- if you ever want anything special or just want someone to get anything for you, all you have to do is call them or email them. someone will always get u something. For example, I told them to research all the "extended stay" programs at all the hotels in NYC and they gave me a list of everything they found (rates, etc...) Another thing I did was ask them if they could find me a wine sommelier that could give a wine class to my friends at my apartment (they called all the top restaurants in NYC to get a list) 3. If you are ever in trouble (medical, physical, etc..anything), and there is no way for you to get out, call them and they will send a helicopter to pick you up for FREE. For example, if you are in a 3rd world country, call the phone number on the back of the card and a chopper will pick u up. 4. Free upgrades on all rooms at participating hotels (ie. Ritz-Carlton, etc...the nice hotels). Besides free upgrades, each hotel has an additional perk like free high-noon tea for 2 at the hotel, etc.... These are just some of the perks. The best part of the black card is the concierge service. And definitely if you travel a lot, the card works wonders!
Actually, because of this thread, I decided to apply for an upgrade to MBNA's top-tier card, the Quantum. (I was approved.) No fee = not nearly as many perks, but there is a free concierge service, among other things. It's also a decent rewards card for travel, etc. It's not really an "elite" card, but it's a great feeling to be in such good standing that you can get one, especially at my age and without being extremely affluent. If the black card is a little out of your reach, some other companies' top-level cards might not be, and they still come with extras.
I got the black for a while now, frankly, it's quite a lot of BS. YOu get upgrades et al, but it's basically the same you get from platinum. For Europeans, the cool thing is the car insurance cover, but it's only a nice try, since the car value is limited to 50'000 USDs. Then again, at avis you can rent any car costing under 50'000 USDs (and also more), with insurrance. But rent exotic, and you're cooked.
