The average American owns two types of cards, a credit, and a debit card. He uses a debit card to finance purchases from his bank accounts and a credit card to obtain a line of credit. If the average American owns a debit and a credit card, what of those who command huge wealth? Of course, unlike most Americans, these individuals don’t often use a credit card. Instead, some adopt a unique card known as the American Express Centurion card. What is this card? Which benefits does it have, and is owning one worth it?
The American Express Centurion Card is the world’s most exclusive card. It offers membership rewards, a 24/7 personal concierge program, shopping services worldwide and much more.
If you haven’t heard of exclusive cards like the JP Morgan Chase Reserve Card, D, Coutts World Silk Card, then you might think that the casual credit cards you find with most people are the only cards that exist. Most billionaires like Jeff Bezos, Elon Musk, and those with deep pockets don’t use credit cards like you and I. Why do they even need a credit card in the first place? They have money to spend on whatever they want, unlike the average American who might need a line of credit. As said earlier, wealthy folks use AEC Card rather than the typical credit card. And in the article, I’m going to explain what this card is, its benefits and if owning one is really worth it.
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What Are American Express Centurion Card Benefits, and Is It Worth It?
High net worth individuals are often treated specially, regardless of as bad as that sound. They get the best seat in an event, they are offered customized services, and of course, most of these folks don’t use credit cards like you and I. But, if you understand what a credit card is and why most Americans embrace it, you’ll know why the rich don’t often fancy them.
Rather than apply for a credit card like a typical American would, billionaires use AEC Cards, a card entangled in a huge mystery. If you don’t know what this card is, its benefits, and if it is worth it, it makes sense to read this article to the end.
Let’s begin with a little explanation of what this card is.
What Is the AEC Card?
The AEC card is widely regarded as the most exclusive credit card in the world. Commonly known as the “Amex Black Card”, the AEC card was launched in 1999, and ever since then, American Express has kept essential details of this card hidden, giving it a very high level of status in the minds of customers.
The Centurion card is so exclusive that American Express refuses to reveal how one can become a cardholder. However, based on a report by Credit Karma, you need to spend a minimum of several hundred dollars a year on an American Express card and have an income of at least $1 million annually.
Also, Conde Nast Traveler reports that you are also required to have specific spending habits, with Amex prioritizing those who buy luxury goods, visit expensive hotels, dining, etc.
How Do You Get Centurion Card ?
Unlike other credit cards, you can only get the Centurion card if you get an invitation from American Express. Once you are invited, you will have to shell out an initial fee of $10,000 and an annual fee of $5,000. The annual percentage rate (APR) for cash advances is the prime rate plus 21.99% and capped at 29.99%. The card also comes with a pay-over-time feature that allows you to carry a balance and pay interest on it.
AEC Benefits:
Round the Clock Personal Concierge Program:
Do you need front row tickets to Rhianna’s concert? How about prolonged shopping hours at Gucci? Or a hard-to-secure reservation at Nobu or Per Se?
No request is difficult for the deluxe Centurion Concierge service, which you can also use for basic requests like reminder calls for anniversaries, including birthdays.
An as of two years ago, November 2019, precisely, this service is rumored to be even top-notch, offering cardholders 24/7 personalized service. First, however, ensure you note that you can get several different cards with a concierge benefit.
Membership Rewards Points:
When you swipe your centurion card, you’ll earn Amex membership Reward Points, which can be used for flights or hotel stays.
Zero Spending Limits (Presently):
One of the best-known benefits of the Centurion card is the absence of a spending limit (also regarded as a credit limit).
This can be very helpful if you want to make an expensive purchase, like a $40 million Da Vinci painting.
Automatic Elite Hotel Statuses:
Centurion cardholders enjoy automatic Marriott Bonvoy Gold Elite status, which results in benefits such as free room upgrades and late check-outs.
You’ll also enjoy hotel statues like Hilton Honors Diamond, IHG Priority Club Rewards Platinum Elite, and Relais and Châteaux 5C, with benefits like complimentary internet and upgrades, including membership to the Centurion Hotel Program, which comes with benefits at five luxury hotel chains: Aman, Belmond, Mandarin Oriental, Peninsula Hotels and St. Regis ( at a yearly fee of $5,000).
Having seen the benefits of this card, you might want to ask if it is worth it?
Of course, it is. Given the numerous benefits that come with this card, having one should make some aspects of your life easier. Indeed, it comes with expensive fees. But, if you take a good look at its benefits, you’ll see that it’s worth it!
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How Do You Qualify for This Card?
You’ve been hearing of the AEC Card for a while. You heard it is the most exclusive card in the world. Eager to find more, you dig into its uses, benefits, and all. Like a typical American, you are thrilled by the benefits, making you keen to know how to qualify for the card.
To qualify for the Centurion Card, you need to be a high earner, meet some requirements, and have a top credit score of 800-850 to qualify for this card.
If you are super-rich, I see no reason you shouldn’t add this card to your priority. Why? It comes with several mouthwatering features that would suit your style.
