Originally Posted by cardtracker
Actually, this is not correct. From the Citigroup Charirman Card T&Cs:
"To receive a Citigroup Chairman Card, you must have an annual income of at least $15,000, and you must meet our credit qualification criteria. Your revolving credit line will be determined by your yearly income and a review of your credit report. Some revolving credit lines may be as low as $2000."
Maybe that is true, but you need to meet the asset requirements to be eligible. Here is a snippet from American Banker Magazine:
"Our strategy is to attract and retain high-net-worth clients," said Pamela Parker, a managing director and the director of client and account services at Smith Barney, the Citi unit that helped develop the Chairman Card. The card will carry an annual fee of $400... and will be marketed... to Smith Barney customers who have at least $1 million of assets and spend $10,000 a year on commissions. The commission requirement is waived for those with more than $5 million of assets.
Confirmed this with Citi.