The most exclusive credit cards are reserved for the elite few wealthy enough to get an invitation to apply. If you meet the stringent approval criteria, owning an exclusive card can serve as a status symbol, allowing you access to significant spending power and unparalleled perks.
Little is known about the exact requirements to get one, other than being a big spender with the resources to pay the big bills. The annual fees on these cards can reach thousands of dollars, but the benefits likely far surpass those on more widely accessible cards. Here’s what you need to know about this high-caliber group of cards available to just a select few.
Exclusive credit cards that are invite only:
The American Express Centurion Black Card
The American Express Centurion Black Card
*
The information for the American Express Centurion Black Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
, otherwise known as “the Amex Black Card,” is perhaps the best known when it comes to the most exclusive card bunch. Applications are by invite-only, although those who own The Platinum Card® from American Express (terms apply, rates & fees) may request an invitation to apply.
There is a $10,000 one-time initiation fee as well as a $5,000 annual fee. And while there is no preset spending limit, any balance must be paid in full each billing cycle.
In exchange for the princely sum, Centurion cardholders are granted a host of premium benefits, such as access to Centurion Lounges, Priority Pass lounges and Delta SkyClub lounges, to name a few. They also enjoy VIP Centurion International Arrival airport services, a personal Centurion concierge, elite hotel and car rental status, Delta SkyMiles Platinum Medallion status and a host of travel protections. Enrollment is required for select benefits.
Citi Chairman American Express Card
The Citi Chairman American Express Card
*
The information for the Citi Chairman American Express Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
is said to be reserved for high-net-worth Citigroup brokerage account holders.
If you are fortunate enough to score an invite to apply, you can enjoy very generous travel benefits, rumored to include access to private airport lounges, a personal concierge and travel upgrades.
The annual fee is reported anecdotally to be just $500, with a credit limit as high as $300,000 on the card.
JP Morgan Reserve Card
The J.P. Morgan Reserve
*
The information for the J.P. Morgan Reserve has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
, also known as the Palladium Card, is only available to the issuer’s private banking clients with bank balances of at least $10 million, but is said to offer private jet travel perks as well as complimentary airline tickets for companions.
Other purported benefits include hotel room upgrades, round-the-clock concierge services and complimentary Ritz-Carlton stays. This card may be more exclusive than the Amex Centurion card as it has only around 5,000 cardholders worldwide, but it charges a much lower annual fee of $595.
Stratus Rewards Visa Card
The Stratus Rewards Visa Card
*
The information for the Stratus Rewards Visa Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
, commonly referred to as the White Card, debuted in 2004 to compete with the Amex Black Card. Its claim to fame, according to the Wall Street Journal, is the ability to redeem points for private jet travel.
The annual fee is reported to be around $1,500, and applications for the card were initially only accepted from customers referred by Stratus’s marketing partners.
Exclusive cards you can apply for:
Most exclusive credit cards of December 2023
The Platinum Card® from American Express
The Platinum Card® from American Express (terms apply, rates & fees), while not as exclusive as the invite-only Centurion Card, is attainable for those with excellent credit willing to pay the $695 annual fee.
Known for providing luxury travel benefits, such as worldwide airport lounge access, generous travel protections and elite hotel and car rental status, the card also offers more than $1,500 in statement credits for incidental airline fees, prepaid hotel reservations, TSA PreCheck or Global Entry applications fee statement credits (up to $100) and Equinox club membership or Equinox+ subscription reimbursements (membership subject to auto-renewal). Enrollment is required for select benefits.
Chase Sapphire Reserve®
Another top luxury card hailed by frequent travelers is the $550-annual-fee Chase Sapphire Reserve®. It comes with an up to $300 annual travel credit, Priority Pass lounge access for you and up to two guests (enrollment required), generous travel protections and a credit for Global Entry, TSA PreCheck or NEXUS application fees.
A big perk with the Reserve card: Points are worth 50% more when redeemed for travel through the Chase Ultimate Rewards® program.
Delta SkyMiles® Reserve American Express Card
Delta loyalists who are willing to plunk down $550 a year for the Delta SkyMiles® Reserve American Express Card (terms apply, rates & fees) can enjoy access to Amex Centurion and Delta Sky Club lounges when flying the same day, plus an annual companion ticket valid for up to a first-class seat.
Other benefits include upgrade priority, a free checked bag, solid travel protections, statement credits for TSA PreCheck or Global Entry application fees and Medallion Qualification® Waivers towards elite airline status after spending $30,000 on the card*.
What makes a credit card exclusive?
There are two main ways card issuers make a credit card exclusive:
- A sky-high annual fee. Not everyone is willing to pay a credit card annual fee that costs hundreds of dollars. With a high cost of ownership, issuers are essentially appealing to higher-net-worth individuals who won’t balk at the cost. However, it’s worth noting that many premium travel cards offer enough benefits and statement credits to offset a high annual fee.
- By limiting applications. Issuers can convey a sense of prestige to customers who meet their income and spending requirements by sending them an invitation to apply for a card that is not available to the rest of the public.
How can I qualify for an exclusive credit card?
The only invite-only exclusive card that you can request to apply for is the Centurion Card, but that’s only if you already own The Platinum Card® from American Express. There’s no guarantee you will be approved, however, as the criteria for acceptance may be lofty.
One way to attract an issuer’s attention, however, could be making hundreds of thousands of purchases on your cards every month while paying them off in full every billing statement.
Otherwise, if you have good-to-excellent credit, a healthy income and otherwise meet the criteria required for the premium travel cards that do not require an invitation, the odds of approval are good.
Do I have to be invited to apply for an exclusive credit card?
Some exclusive cards are invite-only and depend on meeting income and spending requirements as well as having a banking relationship with the issuer. If you currently have The Platinum Card® from American Express, you can call the number on the back of your card to see if you are eligible to apply for the Centurion Card.
Other high-end travel cards, such as the Chase Sapphire Reserve, allow anyone to apply.
How to apply for cards that don’t require an invite
To apply for a premium travel card that doesn’t require an invite,simply fill out the application online. These cards generally require good to excellent credit. Some issuers, such as Chase and American Express, have rules that may disqualify you from getting approved or earning a welcome bonus.
For example, Chase has an unpublished 5/24 rule that limits approval if you have opened five or more credit cards in the past 24 months. And, American Express has a once-in-a-lifetime rule that limits the number of times you can earn a welcome bonus on its cards.
Should you get an exclusive credit card?
If you are willing to pay a high annual fee on an exclusive credit card in exchange for either its cachet or its generous travel perks, or both, then you may want to consider applying.
The most important consideration when deciding whether to get an exclusive credit card is if the card offers you a slew of benefits and protections you know you will use, making it worth paying a high annual fee.
Frequently asked questions (FAQs)
The Centurion Card from American Express, known as “the Amex Black Card,” has been touted to be the most exclusive credit card preferred by high-net-worth individuals.
Since billionaires rarely travel without an army of assistants who most likely take care of their purchases, it’s hard to say which credit cards billionaires use on a daily basis. It has been reported that Warren Buffet uses a American Express® Green Card
*
The information for the American Express® Green Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
he got in 1964.
*The information for the American Express® Green Card
*
The information for the American Express® Green Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
There is no set spending limit with the American Express Centurion Black Card
*
The information for the American Express Centurion Black Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
as the entire balance must be paid in full each billing cycle. You may finance certain purchases, however, with the Pay Over Time feature, where you will incur interest charges.
No, American Express cards are not reserved just for the wealthy. However, most American Express credit cards require applicants to have good to excellent scores in order to be approved.
For rates and fees for the The Platinum Card® from American Express please visit this page.
For rates and fees for the Delta SkyMiles® Reserve American Express Card please visit this page.
*With Status Boost®, earn 15,000 Medallion Qualification Miles (MQMs) after you spend $30,000 in purchases on your Card through 12/31/23, up to four times per year getting you closer to Medallion Status. MQMs are used to determine Medallion Status and are different from the miles you earn towards flights. Effective 1/1/24, this benefit will no longer be available, and there will be a new way to earn toward Medallion Status with the Card. Learn more at delta.com/skymilesprogramchanges.)
¹Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
²For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Credit: Source link