An American Express Black card requires members to have been active American Express cardholders for over a year and to charge at least $250,000 dollars per year to their cards. Officially known as the Centurion card, the black American Express is the company’s most elite charge card.
The card is invitation-only, so the precise requirements for membership are not widely-known. However, it is estimated that users must charge at least $250,000 per year on their American Express cards to even be considered for a Centurion card. The average Black American Express cardholder boasts $16.3 million in assets and an annual income of $1.3 million. The card has no credit limit, so a strong credit report and a high credit score are requirements. The black card is actually a charge card, not a credit card, and its balance must be paid in full each month.
As of 2014, the Centurion card comes with an activation fee of $7,500 and an annual fee of $2,500. Along with the card’s steep fees come elite benefits. Centurion card holders have access to a 24-hour concierge service that can fulfill cardholders’ most extravagant requests, from private jets to front-row theater seats. Possession of a Centurion card also offers premium status at many of the world’s top hotels, auto rental agencies and airlines. Cardholders also maintain standing reservations at some of the most elite restaurants.