You have to admit it…when you see one you have the thought. What kind of money are you pulling in? Well…we have an answer.
If I’m not mistaken, Centurion, the magazine that Amex Centurion cardholders receive, is now available digitally, along with Departures. They ended their publishing agreement with Meredith in 2021 and pivoted to a digital first distribution strategy. They still have a media kit, and there is a lot of mythology surrounding the spending required to obtain a Black Card (an Amex card can cost between $250k and $500k annually). You can actually request one now…it used to be invitation only. I found it fascinating to see how marketers perceived the typical Centurion magazine reader.
This magazine is presumably sent exclusively to Amex Centurion cardholders, so it’s also a look at what the typical Centurion cardholder looks like. Although the income was about what I had anticipated, I had assumed that the net worth would have been higher. Don’t forget this card requires an initiation fee of $10k and $5k a year in annual fee. Media Kit Link.
The “Black Card,” a symbol of exclusivity and immense wealth, has captivated imaginations for years. But how much do you need to be swimming in green to snag one of these coveted cards? Let’s dive into the murky depths of this financial mystery.
The Black Card: Not Just a Plastic Rectangle
First things first, the “Black Card” isn’t actually a single card. It’s a nickname for the Centurion® Card from American Express, a charge card (not a credit card) reserved for an elite clientele Unlike regular credit cards, you can’t just apply for the Centurion® Card – you need an invitation from American Express itself.
So, How Much Do You Need to Be Worth?
The official answer from American Express is a resounding “it depends. ” They consider various factors, including your spending habits, net worth, and assets. But there are many rumors regarding the minimum net worth needed, which can be as low as $1 million or as high as $10 million.
The Truth Behind the Rumors
While the exact net worth requirement remains shrouded in secrecy, some insights can be gleaned from publicly available information. For instance, a 2016 article on Nasdaq mentioned that American Express looked for individuals with a net worth of at least $10 million. Additionally, a former Centurion® Card member revealed in a Quora thread that he was invited with a net worth of $16 million.
Beyond Net Worth: The Centurion® Card’s True Value
Although having a sizable net worth is unquestionably important, it is not the only factor that determines eligibility for the Centurion® Card. American Express favors customers who have a history of frequent card usage and responsible spending habits. Additionally, the card offers a plethora of exclusive benefits, including:
- 24/7 concierge service: Need a last-minute reservation at a Michelin-starred restaurant? The Centurion® Card concierge can make it happen.
- Travel privileges: Enjoy access to airport lounges, priority boarding, and upgrades on flights.
- Luxury experiences: From exclusive events to unique travel opportunities, the Centurion® Card unlocks a world of unparalleled experiences.
Is the Black Card Worth It?
For individuals who can afford the annual fee (rumored to be around $5,000) and maximize the card’s benefits, the Centurion® Card can be a worthwhile investment. However, for those who don’t frequently travel or utilize the concierge services, the high annual fee might outweigh the benefits.
The Bottom Line: A Symbol of More Than Just Wealth
The Black Card represents more than just immense wealth; it’s a symbol of exclusivity, access and a lifestyle beyond the ordinary. While the exact net worth requirement remains a mystery it’s clear that the Centurion® Card is reserved for a select few who can afford the hefty price tag and appreciate the unparalleled benefits it offers.
A few things to know about Black Cards – American Express Centurion Cards
- Personal Centurion: 2020% points returned when used on premium flights or a chosen airline 25c per point.
- Business Centrion: 2050 points are redeemed for premium flights or a chosen airline per point.
- IHG Platinum Elite
- Hilton Honors Diamond
- Marriott Bonvoy Gold
- Earn 1. Purchases over $5,000 earn 5X Membership Rewards points per dollar (up to 1 million extra points per calendar year).
- Delta SkyMiles Platinum Medallion status,
- Hertz Platinum
- Avis President’s Club
How To Get the Amex Centurion Card (Black Card) [2023]
How much does a black credit card cost?
The American Express Centurion Card is the original black credit card and still the most expensive, with a one-time initiation fee of $10,000 and a $5,000 annual fee. Other black credit cards feature annual fees ranging from $495 to $1,500. Are there drawbacks to having a black credit card?
How many Black cardholders are there in the United States?
Based on the latest available data, here are the estimated number of black cardholders in the U.S. alone: That means the total number of black cardholders in the United States is approximately 145,000 people. With over 150 million credit card holders in America, that puts black card ownership at around 0.1% of card owners in the U.S.
How much money do you need to become a black cardholder?
Generally, a card issuer invites only their most loyal customers who spend upwards of six figures or more a year to become a black cardholder. The latest Census Household Income Report found the median American household income is $67,521 per year, which makes a minimum spending requirement in the six figures well out of reach.
How much money do you need to get a black card?
There are very high spending requirements to get a black card. Generally, a card issuer invites only their most loyal customers who spend upwards of six figures or more a year to become a black cardholder.