Related: Best Credit Cards That Waive Foreign Transaction Fees Key BenefitsĪre you sitting down? The Centurion card comes with a cornucopia of tangible and intangible benefits. There are no foreign transaction fees, but there is a $38 late or returned payment penalty and an annual interest rate of 30% for unpaid balances. To keep the card, you must maintain a high annual level of spending (generally above $250,000). You can have up to two additional cardholders for $2,500 per year.
Members and authorized users receive two cards: the black charge card and an access card for the airport lounges. The initiation fee for the hand-forged, hand-engraved and embossed Centurion card is $7,500, with an additional annual fee of $2,500. The adage, “If you have to ask the price, you can’t afford it,” comes to mind, because the card’s fees are certainly steep. The illusive invitation is only the first hurdle.
Extra-large charges are approved on a case-by-case basis, so don’t forget to give Amex a call before you buy your Modigliani.
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Cardholders have used it to buy jets, a Bentley, a $170 million Modigliani painting at Christie’s auction, and pretty much anything else that money can buy-as long as the balance is paid in full at the end of the month. The Centurion card is not a credit card but a charge card. Both business and personal versions of the card are available. The average cardholder’s annual income is $1.8 million USD, and the average net worth of Centurion cardholders is $11.4 million USD. Rumour also has it that if you have high deposits at a private bank, your banker could approach American Express on your behalf to request an invitation. Spend at least $100,000 – $450,000 a year on another American Express card, typically The Platinum Card®.Own an American Express credit card for at least one year.In order to be considered for a Centurion card in Canada, you have to meet the following criteria: According to a long-time Centurion cardholder based in Western Canada, “the invitation came in a beautiful black mahogany box with a prototype of the actual titanium card, engraved with my name, along with a catalogue of the range of benefits. One fine day you may receive an invitation to become a Centurion club member.
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