You can potentially get an invitation for an exclusive credit card by having one or more credit cards with the company that issues the exclusive card, spending a lot of money on those credit cards, and having a very high annual income. However, these actions won’t guarantee an invitation.
All invitation-only credit cards have different criteria for who gets invited to apply. The J.P. Morgan Reserve Credit Card, for example, reportedly sends invitations to people who have at least $10 million in assets managed by J.P. Morgan Private Bank. And the Citi Chairman Credit Card is reportedly only open to people who invest a significant amount in a Citigroup brokerage account.
All that said, invitation-only credit cards keep invitation requirements quiet, which make these reports hard to verify. If none of the actions above work to snag an invitation, at least one invitation-only credit card - the Amex Centurion “Black” Card - now provides a way to nominate yourself for an invitation. That said, filling out the form doesn’t guarantee an invitation.
The most expensive credit card is the Centurion® Card from American Express (also called the Amex "Black Card"), because it has an initiation fee of up to $10,000 and a $5000 annual fee. But considering that you have to be invited to even apply for this card - and you have to spend (and pay off) hundreds of thousands of dollars annually on Amex credit cards to get an invitation - most of us probably won’t have to worry about how expensive this charge card is.… read full answer
Some credit cards with high annual fees end up being worth it because of extra rewards or travel perks, if you can use those perks frequently enough. Considering that the specific terms and benefits of the Amex Black Card aren’t easy to verify, it’s hard to know if a $5000 annual fee is worth it. But people with credit cards that are seen or marketed as status symbols, such as the Amex Black Card and the Mastercard® Gold Card, are likely paying more for the inferred status than they are for a good credit card.
That said, expensive credit cards don’t only end up in the hands of high-rollers, and annual fees aren’t the only metric to measure how expensive a card is. “Expensive” means different things to different people, and people with bad credit are often the ones who end up paying more for a credit card. They pay in the form of monthly, one-time, and annual fees, with few or no ongoing rewards to make those fees worth it. Generally, these fee-laden credit cards for bad credit also come with high regular interest rates. So those who carry a balance on an unsecured card for bad credit will pay dearly for the privilege.
For example, the First Access VISA® Credit Card has a one-time fee of $95*, a $75 1st yr, $48 after* that annual fee, and a monthly fee: None 1st year, $6.25 after*. And its regular APR is 34.99%*. For someone who doesn’t make a lot of money, that’s pretty expensive, even if they’re not carrying a balance from month to month.
If you have bad credit, you’re far better off putting down a deposit on a secured credit card with rewards - Discover it® Secured Credit Card, for example - than trying to get an unsecured card for bad credit. And for everyone else, always make sure to consider what credit card fees buy you, relative to the best no annual fee offers, to see whether the added benefit (if any) is worth it in light of your spending and payment habits.
You'll have to be invited by American Express to get an Amex Black Card application. And to get an invitation, you have to spend (and pay off) a lot of money in a year on American Express credit cards.
It's hard to say who gets one and who doesn't, but the application process is different than nearly every other consumer credit card. Unfortunately, we can’t give many specifics, as the Amex Black Card is quite secretive.… read full answer
The Mastercard Black Card’s credit limit could be $5,000 to $25,000, based on user reports. Given that the Mastercard Black Card is advertised as a “luxury” card and charges an annual fee of $495, applicants may assume it will have a high limit.… read full answer
The Amex Centurion card is an extremely exclusive card available only through invitation to high-income, high-spending Amex clients. The Centurion card has no preset spending limit, which means that the amount you can spend can change each month based on how much you choose to spend, your credit, your income and more.
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