Demystifying the American Express Black Centurion Card

The American Express Centurion Card (also called the AMEX black card) is one of the most exclusive cards worldwide and is only available on an invitation basis. So, even if you have an excellent credit score, it’s not possible to apply for the black Centurion Card by American Express unless you receive an invitation to apply.

Who gets invited to home this coveted card in their wallet and why remains a mystery. But in case you're invited, and you accept the invite, you'll pay a reported whopping $10,000 fees (including a $5,000 joining fee and $5,000 annual fee) for this premium charge card in the first year.

It's also worth noting that the AMEX Centurion Card is not really a credit card but a charge card. Therefore, you're not charged any interest, and there's no cap on spending. However, you're required to pay the statement balance in full each month to continue unrestricted usage of the card.

American Express Centurion black card benefits

American Express doesn't offer any details about this invitation-only card. However, some of the rumoured benefits include limitless spending on the charge card provided you pay the balance in full each month. You also earn Membership Rewards points per $1 on eligible spending but there's no listed earn rate shared by AMEX for the Centurion Card.

More than anything else, AMEX Centurion cardholders covet the exceptional customer service available to them 24/7 worldwide. As most Centurion cardholders are likely to be high spenders and frequent travellers, the card is also rumoured to provide instant access to key seating for special events and concerts, standing reservations at select restaurants, access to Centurion airport lounges, and complimentary luxury upgrades on airline tickets and hotel stays.

How do I get an American Express black card?

First things first, you cannot get an American Express black card unless you're invited to apply for it. However, there are certain things you can do to increase your chances of securing an invitation for the black card from AMEX.

For instance, you can work towards getting the Centurion card by using another premium American Express card, like the Platinum Card.

It's also well known that the black card by AMEX is designed for big earners and spenders. While there's no documented information for how much you need to spend to be eligible, AMEX reportedly extends invitations to apply for the Centurion Card if you've spent and paid off at least $350,000 on your American Express accounts in a calendar year. For a business card, this figure exceeds $450,000.

It's important to remember that these amounts aren't officially confirmed by American Express, and just because you're a high spender doesn't mean you'll be invited to apply. In fact, nobody really knows about the exact criteria used by American Express to decide who gets invited for the Centurion Card.

However, having a clean credit rating and substantial net worth should improve your chances of receiving an invitation to apply. While the term, substantial net worth, is debatable, one report indicated that the average Centurion cardholder has a net worth of US$16m (which is more than $21.6m in Australian Dollars).

Is the AMEX Centurion Card worth it?

The American Express black card with no credit limit will cost you $5,000 in annual fee in addition to a $5,000 joining fee in the first year. This is relatively high compared to the $1,450 yearly fee for the American Express Platinum Charge Card, which is the next premium card offered by American Express.

In terms of benefits, both cards have plenty in common. However, big spenders may find the Centurion to be a more competitive deal, especially with the 24/7 concierge service reputed to entertain even the most whimsical requests from customers. Centurion cardholders are also likely to be people who frequently travel and dine out, making it easier to maximise the various travel and lifestyle-related benefits of the card.

Overall, the AMEX Centurion Card is designed for high net worth individuals who aren't looking to recoup the high annual fees through a generous welcome bonus or other freebies. Instead, they're looking at the soft perks (like the 24/7 concierge service) to make their lives more comfortable.

However, the AMEX "Black" Centurion Card is not the only premium credit card available in the market. Many credit providers offer black credit cards with premium features for big spenders. Unlike the AMEX "Black" Centurion Card, you needn't wait for an invite to apply for a black card from another credit provider. Still, it's worth noting that black cards often charge high annual fees.

It may be worth comparing multiple options to choose a card with benefits that cover the cost of your annual fees. Premium credit cards also carry higher interest rates than standard credit cards. If you've had trouble paying your bills in the past, a black card may not be for you.

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