Coutts World Card - blows Centurion and Stratus away?
 

Just about every chat thread and news article on super-premium cards like the Amex Centurion have some comment on the Coutts World card and most say it is even more exclusive - the ultimate in premium cards. Not about black, white or crystal cards, all about the royal purple - Roman senator stylee....

From what I've gathered, you can only get one as a client of Coutts & Co. private bank in the UK (the Queen's bankers and one of the oldest in the UK). Apparently $1m (£500k) in liquid assets does it to be accepted into Coutts, and on top of that you have to be a VIP in Coutts to be invited for the CouttsWorld card and not just the standard Gold Card. It used to be known as the Coutts World Signia Master Card back in the day and has been around since before Centurion. With the older version apparently your signature on the card was engraved on a gold strip - interesting if true.

The site www.couttsworld.com looks pretty cool, as does the Boateng design., but does anyone know what benefits you actually get with the card? The site states pretty standard stuff like Priority Pass and Concierge (provided by TenUK), but surely it has something else for the £350 fee and being so special? Airmiles.co.uk is a chronic miles collection scheme too. Why not just get the amex platinum for less with the hotel benefits? Also it has a ridiculous APR so I assume everyone uses it as a charge card.

Anyone got one, seen one or know about the benefits included? Or is there a rule to keep all this a secret when you get the card? Just interested......

The APR (53.9%) shown on the fees link is a hypothetical calculation based on a £1,500 balance which includes the £350 annual fee as part of the finance charge. The APR shown has been calculated under the new compulsory Consumer Credit Act regulations, which require us to use a £1,500 ‘notional’ credit limit. The £1,500 limit coupled with the £350 fixed annual card fee distorts the ‘advertised’ APR. If this disclosure has any value it would be to compare with other UK issued cards, but in fact I expect most cardholders do not borrow money in this fashion.

This is true - should read the fine print ;)

I have an account with Coutts & Co.

What's special about the card is bank that issue's it, and the full-suite of services...cash management, private banking, tax planning, trust planning, liquidity services, philanthropy services, ect.

Bespoke banking and a card which has services tailored to the specifics of the client's situation.

Everything from finding, interviewing, and doing background checks on household staff...selling your home...arranging the refab of your jet...to advising you on your business endeavors. Having money means you MUST minimize your exposure to those who could jeopardize your financial future. This is why it pays to have/pay for the personal banking services.

I read of one client who has both a Centurion and the Coutts World card. He needed to buy a gift but didn't have the time to accomplish the goal himself. He called Amex who explained that they could arrange to have the gift purchased. This was acceptable, but then he called Coutts who asked him if he'd prefer to purchase the gift himself...he told them that he was only available at night and the stores wouldn't be open. Coutts instructed him to chose a time and place and they'd take care of the rest....


Long story short...He told them Thursday at 10pm and arrived at the store to be met by 3 people representing Coutts, a fully open Store and a member of staff to accompany him around the store. Depending on his account status that may very well had been security, his account rep, and someone to assist with the shopping.

I've been told that the standard client of Coutts who has this card has well over $10m liquid managed with the bank.

Welcome to Flyertalk, and thank you for sharing the anecdote. I have read similar accounts elsewhere, and there's one thing I truly don't understand. What prompts the client to mention this sort of problem to a bank the first time? I understand why the bank is willing to do most anything the client requests, but why ask a banker about it?

(I also don't understand why credit card companies try to emulate this by bundling a commercial concierge service. It seems irrelevant, even if done well.)

dennis

Thanks. Good to be here.


The reason you tell your banker about such things is b/c often times your banker is a friend as well as a partner of sorts. Part of the institution's job is to make your life easier and if that means they help you with personal affairs...so be it. Remember, they're making a very large sum of money by having you as a client and will do quite a bit to make sure you stay a client.

BTW...it's not necessarily the banker who would be involved...which is why the card actually makes it easier for Coutts to manage these requests. Just as AMEX has these services so do most private banks. The difference is that most of the ULTRA exclusive cards are never discussed, and are issued by private banks, private trusts, ect. and have very personalized benefits for the cardholder(0% interest, 0 fee, 10lb blue lobster delivered to you each month, search and rescue services should you get lost on an excursion...you get the point). At that level each of the services and rewards is tailored to the needs/lifestyle of the client.

Wouldn't you provide that to clients who put $20mil into your bank?

The level of service a family worth billions receives is on a level most people can't comprehend, but then again most people don't have family offices dedicated to handling the family's money.


CC companies are trying to appeal to people who adore freebies...who care about free companion tickets...who think money is "cool"...FREEDOM is cool.

If you're looking for the absolute BEST service from a card...put your money in the hands of a private banking institution and they'll even design a one-off card for your use.

;o)

Agreed, but I think the cards most discussed here are targetted at High Cash Flow individuals, rather than High Net Worth or "people who adore freebies". High Cash Flow can mean High Income or it can be expense account money. Features like "free companion tickets" were created to take advantage of expense account travel rules, while other features seem designed to mimic the services offered by traditional private banks but with the perqs codified rather than left to the discretion of your banker.

Just read this thread, it must be one of the biggest load of nonsense on this forum :rolleyes:

I have the new Coutts Silk card (see Coutts Silk card thread) having been 'upgraded' from the Coutts World card that ceases to exist at the end of April 2013, when I say upgraded, there are a few extra benefits but in truth it is just a branding change ;)

Better to set the record straight or some people doing a google search will believe this tosh :D

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