The most rare charge card in the world, American Express extends its Centurion Card, informally known as the black card, by invitation only. The elusive charge card is available only in certain markets, including the United States, Canada, and Europe. Gaining popularity for its use among celebrities since its introduction in 1999, the Centurion Card has no spending limits. To be invited, there are a number of strict criteria that must be met.
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American Express Platinum Cardholder
For American Express to consider someone as a Centurion cardholder, that person must already be an American Express Platinum cardholder for at least a year and have spent $250,000 or more during that time. This is a minimum requirement for accessing the plethora of privileges and benefits that being a Centurion cardholder entails.
Substantial Net Worth
While the exact net worth requirements are kept unpublished by American Express, it generally has been believed that cardholders must have a net worth of at least $100,000. Pop singer Beyonce Knowles and comedian Jerry Seinfeld are among the celebrities who are known Centurion cardholders, both of whom have a net worth well into the millions. Additionally, potential Centurion cardholders must have a near impeccable credit history
Pay an Initiation Fee and Annual Fee
There is an initiation fee of $5,000 and an annual fee of $2,500 for all Centurion cardholders, all due at the end of the first billing period. Because the Centurion Card is a charge card rather than a credit card, each month's balance is due at the end of the monthly billing period and is not revolving.