Hardest Credit Cards to Get

Why it's one of the hardest credit cards to get: Chase Sapphire Reserve® is one of the hardest credit cards to get approved for by virtue of the fact that it is one of the best rewards cards on the market. From its initial bonus of 50,000 points to the 1 - 3 points / $1 that Sapphire Reserve provides on purchases, and even its annual fee of $550, it’s no wonder why the card is so sought-after. Those are also reasons why you’ll need excellent credit to get approved.

Why it's one of the hardest credit cards to get: $1,250 travel-oriented initial bonus for spending $15K in the first three months; 3 points per $1 on the first $150K in combined annual purchases on travel, shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines; 1 point per $1 on everything else; $95 annual fee.

Why it's one of the hardest credit cards to get: The BofA Premium Rewards Card is hard to get because it requires excellent credit for approval. Some of its perks also apply only to people with a lot of money in a Bank of America deposit account or a Merrill investment account. But all cardholders are eligible for the card’s generous ongoing rewards rate: 1.5 - 2 points / $1. New cardholders can also get an initial bonus of 50,000 points by spending at least $3,000 within 90 days of opening an account. The Premium Rewards Card’s annual fee, at $95, is pretty reasonable, too.  

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion. And only the super rich and famous can expect to get the call, as it’s rumored that you must charge at least $1 million per year to an American Express credit card to even qualify. Its reported benefits include a 24/7 concierge capable of doing anything and everything from planning an entire wedding to getting Drake to perform at your child’s bar mitzvah – seriously.

That being said, it is important to note that the Mastercard® Black Card is not THE Black Card. It’s merely an expensive poser – $495 annual fee.

Why it's one of the hardest credit cards to get: J.P Morgan Reserve is one of the hardest credit cards to get because it is an invitation-only offer, reportedly requiring applicants to have at least $10 million in assets under management with J.P. Morgan Private Bank in addition to an excellent credit score in order to qualify for approval. This card also charges an annual fee of $595, which would be hard for most people to afford. In return, cardholders earn rewards at a rate of 1 - 3 points / $1 and enjoy perks such as airport lounge access and up to $300 in travel credits per year.

Why it's one of the hardest credit cards to get: Credit cards aren’t just giving away low regular APRs these days. You need a really stellar track record as a borrower. Even credit cards for people with excellent credit charge above 14% on average. That’s what makes the Simmons Bank Visa card’s 8.25% (V) regular APR so remarkable. Plus, there’s no annual fee. As you might expect, the Simmons Bank Visa requires excellent credit for approval.

Why it's one of the hardest credit cards to get: The hardest credit card to get for business is the Wells Fargo Business Elite Card because it requires excellent credit for approval. Most other top business credit cards will accept applicants with good credit, too. The Wells Fargo Business Elite Card also has very good terms, including 1.5% cash back on all purchases and an initial bonus of $500 for spending $15,000 within 3 months of opening an account. So, it’s a hard card to get approved for and a difficult card to make great, given that initial bonus spending requirement. It shouldn’t be hard to afford otherwise, however, with no annual fee the first year ($125 after that).