Fraser

Q: I've heard American Express has a black card that is so excusive it is only given to the super wealthy, is it true? I've had a look on their website and can't see any mention of it
It is true, American Express do have a black charge card, the Centurion card. It has been in existence since 1999 in the United Kingdom and October of that year in the United States. Not all countries in the American Express network issue the Centurion card although on a whole it is slowly being rolled out globally.

There is little mention of the Centurion card on the US website and only this snippet on the UK website. It all adds to the mystique of the card

Q: So how do I get one of these cards?
Well there are several ways, however, you can't just apply for it like any other American Express chargecard, you need to be invited.

Alternatively if you are spending over $250k a year on a current American Express card (as of April 15 2005) and have had an account for more than a year give them a call and mention it to the customer service agent who will discuss this with you in more detail.

Q: How do I get the invitation?
The main route is to spend regular high amounts on another American Express card, approximately $250,000 in the US or in the UK as little as £15k can warrant an invite. You do need to have an immaculate payment history (over the last 12months minimum) and have been holding another American Express card for at least one year. In the UK it appears that not only the amount spent but what it is spent on counts some way towards being invited. Regular spend on airlines and hotels does appear to give you some leeway.

There are other ways. A large balance in an American Express Private bank account (£500k+, this also gives leeway in getting the annual fee waived) is another way around the $250,000 per year marker. Also those who have had customer service issues with the Platinum chargecard and threaten to cancel have been offered the Centurion card.

You do not need to keep the spend of $250k per year ongoing though, once you are a Centurion member and paying your annual fee you can charge as much or as little as you like.

Q: Ok because I am such a loyal spender with American Express will they give it to me for free?
Afraid not, American Express charge different amounts depending on the country of issue; in the US the fee is $2500/yr (plus a $5000 initial fee) and in the UK £650, although in the case of the latter you can now renew for free if you spend large amounts. Again the more you spend the more leeway you have!

Q: What do I get for my fee? I've heard rumours they can get me a Learjet to within five miles of my house within the hour if I call them
This is quite possible, although the Learjet must be parked within five miles of your house to start with

Once again the benefits from your Centurion card depend a lot on which country issued it. Look here for the listing by country, although note the Platinum chargecard benefits are in there too.

-UK Centurion benefits (More UK info)
-Japan Centurion benefits

Details of the benefits for Centurion cardholders in the following countries can be found on this web page:
-United Kingdom
-United States
-Germany
-Hong Kong
-Switzerland
-Japan
-Mexico
-Australia
-Sweden
-France
-Italy
-Spain
-Netherlands
-Singapore
-Russia

Q: Where else can I find details or information on the card since American Express are so hush hush about it?
Use the Search function and look in the American Express forum using keywords found in title: 'Black card' or 'Centurion'

Q: Is is true that the Centurion card is made from Titanium?
There have been trials, initially in Germany and the US which has now spread to the United Kingdom. The card is identical to look at except it is made from Titanium

Q: I think $2500 / £650 is a bit steep for me, is there anything as exclusive elsewhere on the market?
Well there are a few, yes. The Merrill Lynch Visa is one these and offers rewards comparable to those on the Centurion card for high spenders.

Alternatively for those in the UK, the Coutts World card is as exclusive if not more exclusive. Although you must have a personal wealth in excess of £2m GBP and an income in the region of £20,000 per month and have liquid assets in £500k+ region to start to be considered for a Coutts account

Theres a start, if anyone else wants to add anything go ahead and I'll cut and paste it into the original thread

Doppy

This was really overdue, thank you. Maybe it should be a sticky so that people who can't be bothered by searching won't have to start a new thread.

SteveT

Thanks so much for posting this!

I had heard that you can have your eligibility requirements and membership fee, either reduced or waived, if you have a banking relationship with American Express Private Bank. The amount that would be reduced or waived would depend on the assets held by the Private Bank.

Amex Private Bank is for individuals who are NOT either US citizens or residents and have at least $1 million in assets with the bank.

ahrz

The Centurion is also available in Germany, Switzerland, Japan, Hong-Kong, Australia, as International Dollar card, as International Euro currency card.

The Centurion has been launched where the Platinum charge card exists for long time (this is still not true everywhere in Europe...) and where there is a potential base for a higher product.

The criteria to apply / to be invited vary on each market, also the annual fee , the benefits, Express-Cash etc.

US $2,500 -
UK GBP650 -
Germany €1,000 - www.centurioncard.de
Switzerland CHF 2,000 ?? - www.centurioncard.ch
Japan ?? -
Hong-Kong ?? -
IDC $1,000 -
IEC €1,000 -

masahiro

Thanks FYI,

Japan Centurion annual fee is 168,000Yen.
http://home3.americanexpress.com/jap...v=VANITY_event
This is Japanese Centurion home page.

Hong-Kong Centurion annual fee is 9,800.00HKD.

1999, 1st Quarter　　UK 650.00GBP
　　　　3rd Quarter　　US 2,500.00USD
2000, 1st Quarter　　Germany 1,000Euro
　　　　3rd Quarter　　Hong Kong 9,800.00HKD
　　　　4th Quarter　　IDC (Europe/Africa) 1,000.00USD
2001,　　　　　　　　　　
2002, 2nd Quarter　　Switzerland 2,000.00CHF
2002,4th Quarter Japan 168,000YEN
2003, ? Mexico (I think) 2,500.00USD?
2004,1st Quarter Australia 2,800.00AUD

aussieplat

I hear the same story re Centurion and Amex Private bank but I don't believe you really have to have a million bucks to invest with them.

They have arrangements for people with a few tens of thousands of dollars. I believe a few million is only for signature porfolios and I don't think they would refuse your money.

You should not be a US citizen though.

I am not sure about your chances of getting Centurion that way.

BeCarlson

Any idea why US citizens can't open an account at the AMEX Private Bank?

CT-UK

You CAN renew for free in the UK.

mplsll52

After reading many posts - I emailed AX and asked what I needed - I had well over 150 K spend the past years. They just gave me the centurion number and the qulified me on the phone. My card arrived next day. I did not get an automatic invite though but had to contact them.

Internaut

For a long time, the UK Platinum card was officially "invite only" but unofficially you could ask so I wouldn't be suprised if the same held true for Centurian as long as you meet some basic criteria.

SteveT

I read the client qualification on their website, but Im sure they have exceptons. I know there are cases where a Private Bank will consider the net worth and the income the client can generate for the bank, like loan fees, interests, etc.

SteveT

Im not sure why. It could be because of banking regulations.

aussieplat

The reason is, I believe, that many products and services are not offered to US citizens is because of the tax complications that arise from the US taxing its citizens' worldwide income (and, I am told, capital gains). Many countries have tax treaties that make such transactions reportable to the IRS.
Most banks find the potential benefit of having US clients subject to such reporting requirements simply not worth the trouble of having to deal with the IRS. American Express Private Bank is opting out not to deal with this problem.

You will find that most countries will only tax income earned within teritorial jurisdiction. US is one of the countries that like to tax their citizens worldwide. I think there are a few others but that is outside the scope of this explanation.

US citizens can, I suppose, use banking services in one of the countries that have secrecy laws in place for non-US income. Using these services may earn them a few frequent flyer points (ha ha). Such banks will typically not hold US securities and other US assets, because they are reportable to the IRS and other agencies of the US government.

I hope this helps.

Ex Amex Card

I disagree with this - a good many countries require their citizens to pay tax on all income, regardless of where they earn it.

For example, British citizens have to declare any income earned in other contries and pay tax on it in the UK. However, if they have paid tax in the country where they earn the money then they don't have to pay tax on that income in the UK (double taxation).

andyZRH

Yes, but only as long as they live in their country of citizenship. Once they move to a different country and earn their money there, they have to pay income taxes there (if the new country of residence does have an income tax). The concept of taxing foreign income of citizens living abroad, like the US does, is highly unusual AFAIK.
E.g. if I (being a Swiss citizen) move to a country with no income tax, such as Monaco or the Bahamas, then I wouldn't have to pay income tax at all. US citizens however, still owe income tax to the IRS.

andy