The American Express Black Card is the most talked-about credit card in the finance world today, with one of the main reasons being that it is so exclusive you can only get your hands on one by invite only.
In other words, this credit card is not for the average Joe, not everyone has access to it. However, this doesn’t stop you from setting a goal to get one. If you want more information on how to get an American Express Black Card, keep reading.
There Is No Application Process
Anyone can read the terms and conditions of the black card, they are freely available on their website. But the only way to get an American Black Card is to get invited by the company. They are most likely to send invitations to customers who have a proven track record with American Express.
If you are currently a cardholder, you can’t call up and request to fill out an application for a black card. However, if you meet their requirements, they will eventually get around to contacting you.
Multi-Millionaire Status Is a Must
The Motley Fool states that the American Express Black Card is only available to 0.1% of the population. One of the main requirements is that you are a multi-millionaire. Crickets…
You will also need to have a good credit score, but ultimately having a substantial bank account is the number one criteria according to Credit Card Insider.
There is no information available about the type of credit score required for a black card. One of the reasons why it is only available to multimillionaires is that there is a minimum spending limit on the card of $250,000 per year.
In other words, to keep it, you need to spend $250,000 on the card every year. The average person doesn’t make that in a year, let alone spend that on purchases.
Customers pay a one-off fee of $2,500, and there is a $7,500 yearly membership fee. So basically, it costs $10,000 to get the card and $7,500 per year to keep it active.
To the average person, the joining fees are high but to a multi-millionaire, it’s like paying for Netflix! The good news is that there are some fantastic benefits associated with the card, here are some of them:
- Airport Privileges: First class passengers are provided with a special escort service that includes being escorted through the customs and immigration process
- Airport Priority Pass: Customers are given access to airport lounges in any state
- American Express Centurion Lounges: These lounges provide a luxury dining experience, as well as massage and spa treatments
- Elite Car Rental Status: Customers who rent a car using the card are given access to high-end exotic vehicles such as Formula One racing cars, Bentleys and Lamborghinis
- Elite Hotel Status: American Express Black Card holders are given access to the most exclusive hotels around the world. This also includes additional perks such as late check-outs and upgrades
- Extended Shopping Service: Cardholders are provided with a personalized service at any time—day or night. You can also shop in exclusive stores after hours
- Delta SkyMile Privileges: Customers are not charged for reissuing mileage tickets. You get priority check-in and boarding as well as complimentary upgrades
- Exclusive Invitations: When a prestigious event is taking place, customers are sent their own personal invitation
Alternatives to the American Express Black Card
Since you don’t know how long you are going to be waiting for your American Express Black Card invitation, or whether you are going to get an invitation at all, why not check out some other options.
There are plenty of exclusive cards providing similar benefits that don’t have such strict requirements, and their annual fees are a fraction of the price, here are some of those cards:
- Chase Sapphire Reserve: You can make your application directly through the company website. They charge an annual fee of $550. When you spend $4000 within the first three months of getting the card, you are given 50,000 reward points and a host of other benefits
- Citi Prestige Card: This card has an annual fee of $495, there are plenty of benefits for travelers, one of them being that when you book a hotel for four nights or more, you get the fourth night free
- Mastercard Black Card: It will cost you $495 per year to keep this card, you get 1.5% cashback on your purchases, every so often, the company gives you luxury gifts as well as a host of other benefits
Last Bit of Advice
The American Express Black Card is in high demand. It has a ton of benefits and all the rich and famous celebrities want one…And even not all of them will get one!
Even if you are a multimillionaire, there is no guarantee that you are going to get an invite. The only advice we can give you is to keep your credit score immaculate.
If you already have an American Express card, keep using it responsibly. If you don’t have an American Express card, you will need to apply for one if you want to be considered for a Black Card. While you are waiting, apply for one of the cards mentioned above, the perks and the prestige might not be the same, but it will cost you a lot less.
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