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.
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. But people with credit cards that are seen or marketed as status symbols, are likely paying more for the inferred status than they are for a good credit card.
Here are some of the most expensive credit cards:
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. As in the case of the First Access Visa® 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.
If you have bad credit, you’re far better off putting down a deposit on a secured credit card with rewards 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.
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