When it comes to most elite, high-status credit cards, there isn’t an application process available to the average Joe. Instead, people with high salaries, stellar credit scores and impeccable financial histories are sought out and invited to these privileged forms of plastic.
Having good credit is not an automatic pre-qualifier for these high-profile cards, as banks are seeking big spenders with well-rounded credit histories and, of course, notable salaries. Money breeds luxury and prestige with these cards.
Here are some of the top tier credit cards available today.
American Express Centurion: With a one-time sign-up fee as high as $5,000, this hot piece of plastic is only available to a select few. Centurion cardholders are treated like movie stars with intensive customer service, personal travel agents and complimentary airline tickets on some international flights with the purchase of a regular ticket.
US Bank’s Stratus Rewards: Known as the “white card,” this sweet-looking credit card packs some serious social power, acting as an airport VIP pass and serving up plenty of “one-of-a-kind” services. Of course, the $1,500 annual fee and 16.75 percent APR isn’t for customers with shallow pockets.
Citi Chairman American Express Card: At $500 a year, this slightly more affordable high-status credit card serves up a 11.9 percent variable rate along with some fancy perks like extended warranties on purchases, up to $1,500 of trip cancellation insurance and automatic car rental coverage.
Visa Black Credit Card / Barclay’s Black Card: This slick slice of carbon (rather than plastic) is noticeably black and comes with an even more noticeable $250,000 worth of travel accident insurance, concierge professionals on-call 24 hours a day and a whopping zero percent APR on balance transfers for the first six months. All this and more for $495 a year.
American Express Platinum: A step down from the Centurion, but a step up from any run-of-the mill credit, this high-class card costs $450 a year to swipe but cardholders are treated to 24/7 travel assistance, a concierge service that can arrange dinner and entertainment reservations and, last but not least, VIP tickets to events.
Bank of America Accolades: At only $295 a year and the potential to have the fee waived for certain customers, the annual cost doesn’t match other plastic, but it does come equipped with a lower-than-average APR. Some perks include exclusive access to events, travel offers and an unmatched rewards program.
American Express Delta Sky Miles: The biggest perk this elite card has to offer, besides the low $150 annual rate, is the mile earned for virtually every dollar spent. There’s also automatic car renter’s insurance, travel accident insurance and a relatively low prime rate of 9.99 percent.
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