Does your credit card come with an on-call concierge who can snag you those coveted tickets to a sold-out Justin Bieber concert? Does your plastic get you into exclusive airport lounges with gourmet buffets, free drinks, personal electronics-charging stations and private bathrooms? How about a free round of golf at a posh club?
If your answer to all of the above is "no," you’re probably not an elite credit card holder.
As the rich get richer, the credit card industry has increasingly been pursuing this slice of the marketplace, appealing to their taste for luxury hotel upgrades, shopping services and always available “lifestyle managers.” And some of these elite cards aren’t even available in the U.S. – banks have been ramping up their offerings to the affluent in Asia and the Middle East. Indeed, a
May report by The Boston Consulting Group found the highest density of millionaires was in Qatar, where 143 out of every 1,000 households have private wealth of at least $1 million. This was followed by Switzerland, Kuwait, Hong Kong and Singapore.
Here are some of the priciest credit cards around. Most come with sky-high annual fees, spending requirements and investable assets minimums.
1. American Express Centurion
Annual fee: $2,500
When it launched in 1999, American Express’s Centurion card, made from titanium, essentially defined the
premium card category, and it’s still the most exclusive card out there. Cardholders pay a one-time $5,000 joining fee and $2,500 annually. They also must spend at least $250,000 annually on an Amex Platinum or Gold card.
Michael Dolen, founder and CEO of
CreditCardForum.com, says the Centurion isn’t that much better than the Amex
Platinum Card, which gives you many of the same benefits for only a $450 annual fee. What you can’t get with the Platinum card, however, is elite status on Delta and US Airways. That means Centurion holders are eligible for free first-class upgrades on those airlines when flying domestically – and when space is available, says Brian Kelly, of
ThePointsGuy.com.