What Does it Take to Qualify for a Black Credit Card?

American Express

The black card; it’s a social status symbol. It’s a sign you’ve made it. It’s a sign that you can actually afford anything you want in life. Contrary to popular belief, you do not have to be a millionaire or a celebrity to have a black card. While these cards are exceptionally exclusive, they’re not quite as high-end and upscale as so many people believe that they are. This is an exclusive card, and not just anyone can have it. And no one can apply for it. It has to be issued to you. You have to be invited to have a black card, no matter which bank issues the card.

That’s the other point of the black card; there is more than one of these cards. Many people believe that the black American Express is the only one, but many banks issue their own version of the black card. While they’re all a bit different, they’re mostly the same. They offer more benefits, more perks and more prestige than any other card. And you won’t find a black card for anyone else. Here’s the truth about the black card.

Income Limits

To be invited by a bank to have a black credit card, you have to make a certain amount of money. While it’s a bit different with each issuer, the basic restriction is that you have to have an annual income in the 6 figures, and you have to be willing to spend at least 6 figures a year on that card. It’s different with all banks, of course, but that’s the basic guideline for most. Additionally, you have to have a card or account with banks that issue black cards before they will issue this invitation. Some will also require that you have a certain amount in your account and others require that you spend a certain amount before they will issue this card to you.

It’s Expensive

The black card is expensive. You have to spend so much each year to have this card. Of course, you can pay for all your living expenses on the card each month and then pay it off at the end of the month to make that happen. Though most people with a black card spend enough anyway just on entertainment, travel and fun. However, it’s expensive because these cards come with a hefty annual fee. While you might cringe at the thought of your $49 a month annual fee, these cards come with a minimum annual fee of around $495.

It’s a Symbol

Here’s the truth about the black card. It’s expensive and it’s prestige, but you’re going to find that you will elicit amazing service anywhere you go. Not only do you automatically get upgrades and bonuses just for being a cardholder when traveling and shopping, you’ll notice that sales clerks and just about everyone else are more inclined to treat you well when you have this card in your hand.

Photo by John Moore/Getty Images


Leave a Reply