Black Cards, Are They Worth It?

Pennygem

Premium luxury credit cards, otherwise known as “black card,” are the most exclusive cards out there. They come with really high annual fees, have very high spending requirements and are even invitation only. PennyGem’s Johana Restrepo has more.

Transcript

00:00Premium Luxury Credit Cards, otherwise known as Black Cards, are the most exclusive cards

00:09out there.

00:10They come with really high annual fees, have very high spending requirements, and are even

00:16invitation only.

00:18According to CNBC, the Centurion Card from American Express, or the Amex Black Card,

00:24is what started this trend in 1999.

00:28Companies have since come out with their own alternative to black cards for consumers

00:32of all income levels, plus many credit card companies now have metal cards to make their

00:38cards feel upscale.

00:40A card issuer invites customers who spend six figures a year to get a black card, and

00:47the annual fees can be as high as $5,000 a year.

00:51The perks include being able to collect a lot more points than usual for certain purchases,

00:58access to airport lounges, and access to the most breathtaking hotels in the world.

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