I’d heard rumors of superyuppies carrying around exclusive ‘black’ credit cards. At first, I thought these cards would carry a permanent 2% apr in the hope of capturing very expensive impulse purchase habits, but apparently, I was wrong.
http://money.msn.co.uk/Bank_Plan/Cards/SpecFeat/TakeTheCredit/Update1/default.asp The Amex Centurion epinions review The Amex Centurion Urban Legends Page (What’s the opposite of debunk?) The Beyond Black from Quintessentially.
I can see why heavy travelers can make use of free traveler’s upgrades, but honestly, is it a race to see who can have the credit card with the highest fees? Admittedly, it might be fun to pay for a Bentley on a piece of plastic… but to me, these are clearly not the realm of the self-made millionaire.
You’d be surprised. I know several millionaires from New York who are self-made and carry both ludicrously high-end black cards; the AMEX Centurion and the Visa Black Card. Millionaires don’t carry cash, and these credit cards allow them to make the kind of purchases I can only dream of