Due to the recent economic problems that many countries in the world have faced, many people are extremely cautious when applying for new credit, and in particular credit cards.
Many of us are cautious because we’re wary of our debts, others because of high interest rates and the lack of will power when it comes to our personal spending.
However, there are some lucky people who don’t have to worry about their credit limit or their levels of debts and as a result they can choose whatever credit card appeals to them.
To attract the wealthy, many credit card providers have created exclusive credit cards that only certain people will have access to.
The criteria may be finance based e.g. You must earn hundreds of thousands of dollars in order to be eligible, but there are other credit cards that are only available by invitation only. Here are two of the world’s most exclusive credit cards:
The American Express Centurion
The American Express Centurion or Black credit card is probably the most famous of the exclusive range. It’s made of titanium and it certainly looks the business but it does come with some very strict criteria.
The Centurion card is only available by invitation only and it is only granted after strict credit, net worth and spending criteria are met. Cardholders are also required to pay an annual fee and in some countries they also have to pay an initiation fee, in the US this annual fee is set at $2,500, plus a joining fee of $ 5,000.
Labelled as the world’s most exclusive credit card by some, the Centurion card does have some enviable benefits, including access to Sony’s Cierge personal shopping program, and dozens of other elite club memberships. The card also includes hotel and flight benefits but the benefits may vary depending on which country you live in.
Coutts’ Purple World MasterCard Signia
The very flashy Coutts Super-Premium MasterCard was designed by British fashion designer and OBE (Officer of the Order of the British Empire) Ozwald Boateng. The card is imperial purple, which is designed to communicate a new modernity and supreme elegance.
You can get your hands on a Coutts World Card if you are the proud recipient of a Coutts current account, but to do this you must have 500,000 (UK Sterling pounds) worth of liquid assets to invest. The annual fee for the card is quite manageable at £350 in the UK and it is waived if you spend a massive £50,000 per year.
There are a lot of perks that come with the World Card, and the most famous being an exclusive and world class concierge service. The concierge service is basically a team of lifestyle managers who help to run any social and leisure requirements that the cardholder might have. For example, if you needed a tiger for an exclusive party or if you wanted a priority pass in an executive airport the “lifestyle manager” could do this for you.
In fact the two cards above are more “charge” cards than credit cards as the full balance is asked to be paid off at the end of the month instead of the minimum amount as would be with a normal credit card.
So are you surprised by the cost and eligibility criteria of these two exclusive cards?