The Business Centurion Card from American Express OPEN is one of the elite credit cards available for the hugely successful. In fact, the average net assets of Centurion cardholders are valued at 16.3 million dollars. Their average household income is $1.3 million. So, right off the bat, unless you’re pretty rich, you’re never going to have one of these cards. Oh yeah, even if you are very wealthy, you still have no way to apply. It’s invitation-only.
Key considerations concerning the Business Centurion Card from American Express OPEN:
Your business must already have an active American Express Platinum Card to be considered for this card. Then, you’re going to fork out $7500 just to get the card and have it activated. That consists of a $2500 annual fee up front and a $5000 “Initiation Fee”. If you desire additional cards for key organizational players, they will come at a fee of $1500 per. It’s a haughty privilege of exclusivity to own one of these cards and you have to pay for that. Hmm, is that really a privilege then? Regardless, you’ll have to hand over the $7500 if you want the card.
Of course, the reported “invite-only” clause can be bypassed. If you have the money and assets required, all you would need is to know the right person or people. There is an estimated 100,000 people worldwide who enjoy this card, with about 30% of them from the U.S. There is a minimum $250,000 spending requirement, every year, with a different American Express credit card, in order to retain cardholder privileges. The Business Centurion Card from American Express OPEN has few competitors, but they are still competing for the bragging rights of elite exclusivity. If the customer base grows too much, the intrinsic value for all cardholders is lessened. For that reason, there is talk about raising the minimum spending amount per year to $500K, maybe even $1 million.
<h2>The benefits of having a Business Centurion Card from American Express OPEN:</h2>
So what’s it really worth to pull out a black AmEx card and basque in that glory? There must be other attractions to this card or nobody would really be interested. However, there seems to be a developing trend amongst these affluent cardholders that the card is dwindling in its benefits value. There are customer complaints that the dedicated concierge services are really lacking. So, besides the prestige associated with whipping a black Centurion card out in front of your rich buddies, are there any other solid reasons to pay for it? Here are a few of the benefits worth considering:
- Free tickets for a companion traveler when you purchase a full-fare ticket on specified international flights;
- Rare traveling opportunities;
- Preferred pricing on exotic automobiles like Ferrari, Tesla, Lamborghini, etc;
- Personal shopper services at Sak’s, Gucci, Escada and various other upscale retailers;Free first-class upgrades on flights;
- Various exclusive privileges at international hotel chains;
- Loads of automatic membership privileges to elite clubs worldwide;
The Business Centurion Card from American Express OPEN supposedly has no spending limits, but it actually does. Trust me that, somewhere, someone is watching every major transaction that is attempted with a Centurion card. The largest purchase with a Centurion is reported to be a $52 million private jet. Still, each attempted transaction will be approved, or not, based on the cardholder’s usage history, net assets and various other factors.
Businesses that have the Business Centurion Card from American Express OPEN at their disposal have an arsenal of resources available to them that non-cardholding entities certainly do not. This card grants freedoms and acceptance that very few others in existence can. And with such little competition, American Express OPEN anticipates highly successful long-term profits from its venture to cater to the extra-wealthy.
There are only a few other cards in the world that have the level of power and prestige that the Business Centurion Card from American Express OPEN has. Namely, the HSBC Premier World Card, the Palladium Card and the Black Card from Visa. If you are in the market for one of these elite credit cards, then you aren’t overly concerned about things like a $35 penalty fee for making late payments. In the first place, making the payment is not going to be an issue, and secondly, the $35 probably won’t put you in the poor house.
That being said, the Business Centurion Card from American Express OPEN does have set APRs, fees and other charges that apply to using it. There are no foreign transaction fees. The APR for purchases is the Prime Rate plus 5.9%. And there are charges, up to $35 per incident, for late payments and returned payments. For all the fine print about this that you may care to read, please visit the AmEx website.
For almost everyone on the planet, the Business Centurion Card from American Express OPEN would be a life-changing gift from the heavens. Personally, I’m still awaiting mine. And surely, for those that actually own this card, it must be a pleasure to acquire. However, familiarity does sometimes breed contempt, and that is showing through, at least slightly, in the echos of real cardholder concerns. It is highly probable that AmEx will handle the slight increase in customer concerns. And very likely, increased exclusivity, and therefore desire for this card, will be achieved by increased initiation fees and increased minimum annual spending requirements.