The other day a friend of mine casually mentioned he had received an invitation to get an AMEX Black card and was seriously considering dropping the $7,500 investment required to get one - $5,000 initiation fee and $2,500 annual fee. He wondered what I knew about the card and whether I thought it would be worth it. That’s a tough question to answer because the answer is always, it depends.
The American Express Centurion charge card, also known as the “Black” card carries a substantial annual fee of $2,500 but, for anyone who appreciates elite status treatment, automatic upgrades at hotels and airlines and a personal concierge 24/7 to handle everything from keeping track of birthdays or important events to getting you access to exclusive clubs and restaurant reservations this is THE card. Having said that, for anyone with stellar credit and who has spent $250,000 in a calendar year with American Expresss, which you’ll need to be considered for the AMEX Black card, the AMEX programs currently being offered with the blue cards or gold and platinum rewards cards can be good options and don’t require such a significant upfront investment.
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