I´m going to talk about AmericanExpress and how that can benefit you and give you extreme security as a consumer.
Very Expensive Episode 3 - The AmericanExpress Centurion Card aka - The Black Card
Hey everyone, Chris here with another episode of very expensive and this is American Express's super exclusive card. This is the American Express Centurion card. Also known as, the black card now what makes this card very unique is that is the only card out there what that has an unlimited spending limit on it. Meaning that, if you wanted to buy say a private jet, they would actually accept this card as a valid form of payment what makes this card very exclusive is that. American Express has been very tight-lipped, about revealing any information regarding the existence of this card.
In fact, they have never released any official public statement in regards to this card and if you browse their website, you'll actually find that it's completely absent in the list of available cards that they have to offer. So, what do we know about the black card? Well, we know that it's not a credit card, it's a charge card. Meaning that, you'll, you have to pay off the balances in full every single month. We know that, this card initially started out as an urban legend back in the 80s card members believed that. There was, this all black card that was given out to certain celebrities and dignitaries that had an unlimited spending budget and it was actually called the sky's sky's the limit card. Because, literally skies was the limit, it wasn't until 1999 that American Express decided to take advantage of that urban legend by offering the new Centurion card. When this cartridge first session in 1999, he just came in an all black plastic card to give it an even more premium feel. In 2014, they started to make the cards out of an anodized titanium material with a carbon-fiber accents and laser etched name and numbers. We also know that, you cannot apply for a black card directly. You have to actually be extended an invitation by American Express and as far as, we know the only extent out invitations to their existing Platinum Club members zooming, they meet other eligibility requirements. So, what do you need to do? To become eligible for the business line Centurion. You need to spin and pay off in a 12-month calendar year, four hundred fifty thousand dollars to get the business line for the personal line. You need to spend and pay off two hundred and fifty thousand dollars and even then, it's not a guarantee that you'll be an extended an invitation. So, say by chance, you get extended an invitation to become a black card member, you would then need to pay a $5,000 initiation fee and a 2500 annual fee. You then can pay an additional $2,500 to get an additional card added to your account, up to two additional cards most of the benefits of associators card are travel benefits and then other nice perk is 24/7 personal concierge service.
The conjugation service is actually really nice. Because, they'll do anything for a card member, short of anything that might be illegal, such as paying for hookers. There's actually one interesting story on reedit. I've read that some person called in wanting to get a hold of Nintendo Wii when it first came out. It was like a month before Christmas and now obviously everybody was sold out. So, this concierge service actually went around and called like every single Toys R Us and told they were able to get their hands on one. So, you're probably wondering, what's the largest purchase ever made using the black card well. I did a little research, there was a Chinese collector and billionaire by the name of Lou, you can they use his black card to purchase at auction, a rare porcelain cup from the Ming Dynasty. The cup itself sold for 280 million Hong Kong dollars, which roughly quakes about 36 million US dollars. He had uses American Express black card record 24 times. Because, they can only process 12 million Hong Kong dollars at a time.
Now lastly, the most important question is the black card really worth it and surprisingly a lot of people say, no aside from being US just a pure status symbol really. The perks don't really justify the $5,000 initiation fee, nor does it to justify the $2,500 annual fee especially when you take an account that the the platinum card offers the same amount of benefits. But with a much lower annual fee, then again you might want to take a Catholic that average black hole member makes about 1.3 million dollars annually and has about 16 point 3 million in assets. So, really money's not a big deal to them well there you have it. If you liked the video hit the thumbs up, make sure to subscribe to my videos and I'll leave a comment in the comment section below, on what you'd like to see on a future episode of very expensive take care, I'll see you guys.