Credit Card: The Credit Card Of The Millionaires and What We Can Learn From It

1:27:00 PM Rhea Mocorro 0 Comments

Image from luxuryplastic

Have you wondered what kind of credit cards the rich would carry? And how much would be their credit limit? Or perhaps we can go overboard with the question like how to avail one? Let me pop that bubble to let you realize that the current credit cards and the cards we know in the market is not a match with the card the millionaires carry.

So just how the rich and the wealthy roll in style? It is with their American Express Centurion “Black Card”.

This Black Card is an invitation only card. It is extremely difficult to get a hold of this card. There’s no application process and it is strictly invitation only. No wonder that only a slim percentage of individuals own this. The card members that will be invited to apply should need to justify their six figure dollar annual spending. And to add to that, this has no limit. You can just swipe away a $10 million boat if you want to.

The rich and the wealthy can certainly use this because of the many benefits and perks they can enjoy. They have exclusive travel services, a 24 hour round the clock support, exclusive discounts and perks to restaurants, concerts and concierges. This is also recognized around the globe with access to luxury retailers and stores. There’s even news that Centurion card members can shut down an entire store so they can be able to shop alone and conveniently. No wonder it has relatively steep annual fee and initiation fee. And this card is made up of titanium.

Here’s an infographic to better understand the Black Card.

Image from creditcardinsider

So what’s the catch? This is the question any card holder can learn from be it black card holders or not.

The Centurion Card, popularly known as the Black Card, is a charge card issued by American Express.

So exactly what is a charge card?

A charge card signifies that you need to pay it back every month. Most card members of the Black Card tend to pay their debt in full every month. Regardless of the amount of their consolidated purchases, they can be able to pay it in full when their statement arrives. They are not a fan of delaying their debt and more so they know that with every purchase, they are more than capable to pay back what they owed. True their purchases might be hefty as compared to ours however they do know that they can be able to pay it off. And this is one attribute that every card holder might want to establish as well. I too am guilty of delaying my credit card loans before. No wonder the amount I owed plus interests and late charges would pile up. Hence debts would pile up one after the other.


You might exclaim, indeed they are more than capable of paying because they are rich. But this shows that more than having the money, they are smart spenders. And this is something we might want to imitate. We might not have the same credit cards with them nor the amount of money they have but we can be responsible card holders and smart spenders like them. 


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