For the average person, a credit card is a way to buy items that they cannot afford without being able to make payments. Investopedia explains it in a straightforward way. A credit card is a way to purchase an item or service when the cash to pay for it is not currently available. This is simply not the case for the wealthy people of the world. They use cards to gain rewards, cashback, and for the social status that it gives them. Throughout the ages, there have been a few cards that are available to these types of people, by invitation only.
- American Express Centurion Card-This card is always on the top of any list that shows the cream of the crop when it comes to luxury cards. It is obtained by invitations sent out to holders of American Express cards that reach specific criteria. Lofty expectations are involved with this card. Before the company even contemplates sending you an invite for this card you must charge around $20,000 a month on their other cards. You must have an exceptional credit rating, a source of steady income that is high (around one million annually), and the ability to use their card without even batting an eye when you get the monthly bill.If you are accepted for this card there will be an initial fee of $10,000, and an annual fee of $5,000. The company prefers that spending on their cards lean towards traveling, dining, and entertainment. This will give you added attention if you plan to try for this American Express Black Card.
- J.P. Morgan Reserve Card-An invitation for this card is usually determined by the company on how many investments you have through their business. It is claimed that you must have at least ten million in assets invested with J.P Morgan. The annual fee for this card is only $595 and offers many rewards for traveling, include a 120-daymoney back guarantee on purchases, and reward points that add up at ten times the amount of the purchase, on some items. You must have exceptional credit and you can only get this card if the company feels that you fit their profile for a card holder.
- Citi Chairman-This card is available by invitation only to people that are a part of Citi groups private bank. Only those that have exceptional credit history would even be considered for this card. A high credit score and a large steady income will not automatically give you access to it. The annual fee is $500 but the interest rates are low compared to most, and for every dollar that you spend you will get a point to use. You get access to VIP hotel rooms and Priority lounges within airports. If you want to try your luck and compare credit cards with high end benefits, this one should be at the top of your list.
- Dubai First Royale Mastercard-This card is arguable the most elite of the luxury cards available. The card itself is trimmed in gold and has a small diamond set into the front of it. The upfront fee is reported to be around $2,000, but it is well worth it. When you get the card, you are assigned a ‘royal lifestyle manager’ that will do their best to get anything that you desire. There are no limitations on amounts that you can spend, and no restrictions. This is an invitation only card that requires more than for you to be filthy rich. Most of the current cardholders are in the United Arab Emirates, but it is available to anyone around the world that qualifies for it.
These are four of the most luxurious credit cards in the world. They are not the only ones, though. If you currently have credit cards with high limits and lots of bonuses you may soon get an invitation in the mail to step up your game even more with one of these luxurious cards.