The highest credit card color is black, in large part because of the ultra-exclusive Centurion® Card from American Express, which is also known as the “Black Card” due to its color.
Key Takeaways. The Black Card is an exclusive charge card offered to high-net-worth individuals by invitation only. The Platinum Card is one tier lower. Prospective cardholders may apply online and must meet minimum eligibility requirements.
Gold credit cards are a step up from standard cards; platinum credit cards are typically above gold, and black credit cards sit at the top of the pack. This means the specific features and benefits vary based on whether a card is a gold, platinum or black option.
Platinum cards give higher minimum credit limits than gold cards, which can be a bonus if you spend a lot on credit and can responsibly manage your credit card payments. Platinum cards charge higher annual fees than gold cards offered by the same provider.
Tier 4: Premium Cards
Premium cards consist of the highest tiered credit cards you can apply for. This is when perks become a major selling point, since being a premium cardholder gives you access to copious travel benefits.
The most prestigious credit cards are the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and the Citi Chairman Card because all 3 cards are invitation-only.
A platinum credit card is usually a bank's most expensive or the top-tier card, second only to a titanium, black or diamond card if offered by the bank.
Capital One Quicksilver: Eligibility. The Platinum card is geared toward people with limited credit, whereas Quicksilver is reserved for those with good credit and above (700+ credit score). You can easily check your latest credit score for free on WalletHub.
The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.
'Black credit card' is the catch-all term usually used to describe the most exclusive credit cards available to the wealthiest individuals. They are given out by banks to high-earning, big-spending customers and offer impressive perks and very high or unlimited credit.
Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
Generally, a card issuer invites only their most loyal customers who spend upwards of six figures or more a year to become a black cardholder.
Some providers may choose to use a hierarchy of colours with credit cards, such as (in descending order based on benefits and, potentially, cost): titanium, diamond, black. platinum. gold or silver.
Credit Card Processing Levels: When you process a credit card, you're then placed into one of three processing categories: Level 1, Level 2, and Level 3. Level 1 has the highest rates and Level 3 has the lowest. As you move up levels, there are more line-item details that must be sent with each transaction.
The Mastercard World Elite tier is the highest tier credit card from Mastercard. In addition to the benefits that come with the previous tiers, World Elite comes with perks like Fandango discounts and World Elite concierge service.
The American Express Black Card doesn't have a pre-set spending limit, so cardholders can spend as much as they want every month. But that's only the case if they can afford it. The Centurion® Card from American Express is a charge card, so cardholders can't carry a balance.
A black credit card is a type of extremely exclusive credit card that is almost solely reserved for the ultrawealthy. Typically, the cards are available on an invitation-only basis. The threshold for entry into this elite echelon of card ownership is incredibly high, as are the annual fees.
Receive an Initial Credit Limit of $20,000 to $25,000
Because cardholders generally have a much higher income (or at least the ability to pay back their cards), the card's customers are usually given a very high initial credit limit.
Black cards usually require a high level of spending and are invitation-only, but if you have good or excellent credit there is one you can apply for.
The Mastercard® Black Card™ charges a $495 ($195 for each Authorized User added to the account) annual fee. This high fee is typical of premium rewards cards, and is only likely to appeal to high-earning consumers who can afford a luxury credit card and seek the luxury benefits that come with it.
The credit score needed for the American Express Platinum is generally above 700. According to Credit Karma, the average score is 715. Although, several applicants with credit scores in the 600s have also been approved, even as low as 643.
If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.