When the super rich use credit cards, they don't do it the same way as the rest of us.
Rather than standard credit limits and customer service hotlines, elite invite-only cards can come with unlimited credit lines and personal shoppers willing to track down just about anything.
Details are limited, but in order to get this high-profile plastic, the main thing you need is a well-padded bank account — and royal or celebrity status certainly doesn't hurt.
Queen Elizabeth II and Elton John have reportedly used the Coutts & Co.’s World Card, a highly prestigious card rumored to offer private after-hour shopping sessions wherever cardholders want. Kim Kardashian and Oprah Winfrey, meanwhile, have used the American Express Centurion, which is said to enable cardholders to buy anything they desire, no matter how seemingly inaccessible.
Here's a closer look at three of these exclusive credit cards and what they offer.
American Express Centurion (Black) Card
American Express declined to disclose many details about the Centurion, including how many cards it issues. But a representative noted that signing up requires a $7,500 initiation fee followed by a $2,500 annual fee, and said the card's benefits are customized to suit a cardholder’s lifestyle and needs.
Reports indicate that to score an invite you need to spend between $250,000 and $450,000 per year on another American Express card. And the Centurion is said to offer some of the same perks as the American Express Platinum, including Centurion lounge access and premier airline and hotel benefits.
But the card offers more than just that. The company goes to unbelievable lengths to please its clientele. The fact-checking site Snopes deemed the claim "American Express issues a special black card that allows its holders to buy anything" to be true.
Snopes cites a few famous examples to back up their stance. One cardholder wanted to purchase the horse that Kevin Costner rode in the 1990 film “Dances with Wolves,” so American Express located the animal in Mexico and delivered it to Europe. Another Centurion holder in London wanted sand from the Dead Sea for their child’s school project, so the company dispatched an employee by motorcycle to go get some.
J.P. Morgan Reserve (Palladium) Card
The J.P. Morgan Reserve is the updated version of its better-known predecessor, The Chase Palladium, a card Barack Obama reportedly used. Bloomberg called it the credit card for the 1 percent of the 1 percent. To qualify for an invite, you need to be a member of the Chase Private Bank.
Private Bank membership is exclusive to wealthy clients who reportedly have at least $10 million in their accounts, though Chase declined to confirm this figure.
In many ways, the J.P. Morgan Reserve resembles the Chase Sapphire Reserve, a popular travel rewards card. It requires the same annual fee of $450 and offers a $300 travel credit. Plus, it has the same reward structure, promising 3 points for each dollar you spend on travel and restaurants and 1 point on all other purchases. Every point redeemed on travel is worth 1.5 cents. The perks are similar, too, and include Priority Pass Select lounge access, a Global TSA precheck credit and VIP access to events.
What distinguishes this card from the Sapphire Reserve is its exclusivity. It is primarily a status symbol, confirming your entry to one of the world's most select clubs.
Bank of Dubai First Royale MasterCard
The Dubai First Royale MasterCard is trimmed in real gold and has a .235-carat diamond embedded in its center.
The card requires an undisclosed annual fee that buys you a "dedicated relationship manager" who provides "royal lifestyle management," according to Dubai First. (The company, based in the United Arab Emirates, did not respond to requests for comment.)
"What do these clients require? What are their needs? It's not money — it's service. You ask for the moon, and we try and get it,” Dubai First CEO Ibrahim al Ansari told the National, an English-language newspaper based in the United Arab Emirates.
The Royale is rumored to have no credit limit and zero restrictions. "Whatever he or she wants to swipe it on, the transaction must go through. If the client likes a yacht on holiday, he or she should be able to buy it,” said Amit Marawah, Dubai First's former senior vice president and head of marketing and communications.
Only ultra-high-net-worth individuals have a chance at being invited, and the card is said to be perhaps the most exclusive in the world.
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As an enthusiast with a profound understanding of exclusive credit cards, it's evident that the world of high-profile plastic is not just about credit limits and customer service hotlines for the super-rich. I have explored the intricate details and unique features of some of the most prestigious cards available, offering a glimpse into the opulent lifestyles of their esteemed cardholders.
Let's delve into the concepts discussed in the article and expand on the information provided:
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American Express Centurion (Black) Card:
- This elite card is shrouded in secrecy, with details not readily disclosed by American Express.
- To obtain an invitation, potential cardholders are rumored to need to spend between $250,000 and $450,000 per year on another American Express card.
- The initiation fee is a staggering $7,500, followed by an annual fee of $2,500.
- The benefits of the Centurion are personalized to cater to the cardholder's lifestyle and needs.
- Notable perks include Centurion lounge access, premier airline and hotel benefits, and the ability to access exclusive experiences.
Remarkable Anecdotes:
- The Centurion is known for its extraordinary service. Verified by fact-checking site Snopes, the claim that the card allows holders to buy anything has been deemed true.
- Examples include sourcing and delivering the horse Kevin Costner rode in the film “Dances with Wolves” and dispatching an employee by motorcycle to get sand from the Dead Sea for a school project.
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J.P. Morgan Reserve (Palladium) Card:
- The J.P. Morgan Reserve, considered the credit card for the 1 percent of the 1 percent, is an updated version of the Chase Palladium.
- To receive an invitation, one must be a member of the Chase Private Bank, which is exclusive to wealthy clients reportedly holding at least $10 million in their accounts.
- It shares similarities with the Chase Sapphire Reserve but stands out due to its exclusivity, serving as a status symbol.
- The card requires an annual fee of $450 and offers travel credits, reward points, and exclusive perks such as Priority Pass Select lounge access.
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Bank of Dubai First Royale MasterCard:
- The Dubai First Royale MasterCard is an epitome of luxury, featuring real gold trimming and a .235-carat diamond embedded in its center.
- Annual fees for this card are undisclosed, offering cardholders a "dedicated relationship manager" for "royal lifestyle management."
- Rumored to have no credit limit and zero restrictions, it caters to the desires of ultra-high-net-worth individuals.
- The card is incredibly exclusive, with only those invited having a chance to possess it, making it potentially the most exclusive card in the world.
These exclusive credit cards transcend traditional financial tools, offering a blend of personalized services, rare privileges, and a status symbol that goes beyond the financial realm. The article provides a fascinating glimpse into the world of high-profile plastic, where the limits are bound only by the desires of the ultra-wealthy clientele.
