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June 06, 2011

  • News:  Cards For The Wealthy 

    The most well off consumers don't need to search for a credit card, the best-of-the-best credit cards will find them. These elite cards are seen as a status symbol and targeted at the segment of customers who repeatedly spend over $100,000 on credit cards, annually. Their prestigious perks and personalized services come with exorbitant annual fees and selective standards, making these cards available to only the top-notch consumers.

    First issued in 1999, American Express's Centurion Card is often thought of as the leader in this field and, it is considered the most prestigious! The credit card itself is made from titanium to help it stand out from the rest. Many benefits go along with this card, including concierge services, luxury travel, dining, shopping and special events. Hotel rewards may include complimentary butler service, free nights, room upgrades, free meals or special suites. There are also events that are reserved only for Centurion members who receive invitations. Unsolicited applications are not accepted and AmEx doesn't disclose the criteria for being selected for the credit card. They also keep fees under wraps but it is rumored the initiation fee is $5,000 and the annual fee is $2,500 thereafter.

    Another impressive credit card is the Stratus Rewards Visa Card, which launched in 2004. Similar to the Centurion Card, the Stratus is an invitation only card. Cardholders get concierge services and special events, as well as high-end "award show" gift bags periodically. In addition, members can earn points toward discounts on private jet flights, car services and luxury hotel upgrades. The annual fee on this card is $1,500.

    Other cards like American Express Platinum card, the Citi Chairman American Express Card and the Barclays Visa Black Card offer similar perks with lower fees although they don't carry as much cachet. These credit cards have annual fees around $500.

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