Have you heard this story about a high-rolling businessman and his evening excursion in London with friends to an exclusive nightclub? They managed to “conques” 102 bottles of champagne, 11 bottles of vodka and a Methuselah bottle of champagne (which contains the equivalent of 8 regular-size bottles), in only a matter of hours. You’d probably have had to reach the age of Methuselah to pay the bill, which scored the nice amount of £105,805. But our businessman didn’t have any troubles paying the bill; he just used his American Express Centurion (also known as American Express Black card), and the bill was paid.

The American Express Centurion (or Amex Black) and the American Express Platinum have taken the first and second slots in a ranking of credit card preferences among high-income consumers (at least $200,000 annually). Besides, the American Express Black is so exclusive that I only know one person who has one. If we think that the membership is by invitation only and there’s an annual fee of $2,500, you can understand what I’m talking about here.

American Express Black Card: What’s The Motivation For Having One?

So, why would anybody on Earth want to have such an expensive card? If it did only what other cards do, it would have been crazy to want one. But taking into consideration that they offer equally expensive perks, like access to private islands and private jets, to those big spenders, maybe you’ll get the picture. The American Express Black card cardholder should spend a minimum of $250,000 annually to be a member. The American Express Platinum card may come at $450 a year annual fee, but they will look after you with assurances such as their offer to evacuate injured American Express members and their families from wherever vacation location they are to where they can be given quality medical attention.

Credit cards for the mega rich are becoming attractive options and big earners for credit card issuers. They may not make much from finance charges but 4% merchant servicing fees can mean quite a bundle, if the purchase volume is high enough. That businessman’s transaction from his big night out could earn American Express a minimum of $4,000 in merchant processing fees. Yes, poor merchants, they have to support the rich who entertain themselves while others work to fulfill their desires.

You’ll ask me why those incredibly rich people would like to have such a card. After all, they have enough money to pay for all those perks, haven’t they?

Yes, but that Amex Black gives them the status symbol, the recognition of their wealth, although I might say that the perks they get are not at all to be nglected, regardless how rich you are.

How many owners of an American Express Black card do you know?