The American Express Centurion Card, more commonly known as the “Black Card,” is one of the most exclusive and prestigious cards in the world. It’s shrouded in mystery and intrigue, catering to the ultra-wealthy who live luxurious lifestyles. But just how rich do you need to be to get the Amex Black Card? What is the average income and net worth of Black Card members? Let’s take a closer look.
Black Card Basics
First some background on the Black Card. The invite-only Centurion Card from American Express was launched in 1999. It has a $10000 initiation fee and a $5,000 annual fee. Cardholders get access to a personal concierge, airport lounge access, elite status with hotel chains and airlines, exclusive events, and more. There’s no pre-set spending limit.
The card is made of anodized titanium (not actually black) and has no numbers – just the cardholder’s name. It’s a true status symbol only available to the top Amex customers Centurion has around 100,000 members globally.
You Need to Be Rich to Get One
It’s widely reported that you need to spend at least $250,000 annually on an Amex card to get a Black Card invite Some estimates go as high as $500,000 or even $1 million in spending per year. Amex doesn’t confirm any threshold, but you certainly need to spend big bucks.
In addition to high spending, you generally need to have excellent credit and significant assets. The Black Card is all about prestige and luxury – it’s for millionaires and billionaires. While Amex doesn’t publish income or net worth requirements, we can get an idea based on their marketing materials.
Insights from Centurion Magazine
Centurion magazine is sent exclusively to Black Card members. The average Centurion reader has a household income of $1.8 million and a net worth of $11.4 million, according to Amex’s media kit. They own an average of 6 properties and are 57 years old.
So while the spending requirement might be $250k+ to get approved, the typical cardholder earns over $1.8 million per year. They are ultra-high net worth individuals worth over $11 million on average.
To put this in perspective, the median US household income is around $70,000. The average US net worth is approximately $746,000. Black Card members live in a completely different financial stratosphere than ordinary folks.
Private Jets and Mansions
With the Centurion Card, the sky is the limit. There are reports of people buying $170 million paintings, private jets, mega-yachts, mansions, luxury cars, and more using their Black Cards. When you have practically unlimited spending power, anything is possible.
While we can’t confirm the specifics, it’s reasonable to assume Black Card members have purchased big-ticket items in the millions given their net worths. For the ultra-wealthy, dropping a few million is comparable to the average person buying a new TV or refrigerator. It’s all relative.
Significant Assets Required
To recap, here are some key stats on Black Card cardholders:
- Average income: $1.8 million
- Average net worth: $11.4 million
- Own 6 properties on average
- Spend over $250,000 a year on Amex
- Ultra-high net worth individuals
So while the spending requirement to get approved may be around $250,000, you really need to be far wealthier to join this elite club. Significant assets in the millions, excellent credit, and very high income seem to be prerequisites based on what we know about existing members.
The Black Card is for the uber-rich looking to maximize lifestyle perks and flex their status. For the average person, it’s probably not attainable, but we can still dream!
How much do you have to spend to get a black card?
There are very high spending requirements to get a black card. 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.
The latest Census Household Income Report found the median American household income is $67,521 per year, which makes a minimum spending requirement in the six figures well out of reach. While the average consumer will likely never use a black card, there are now many affordable credit cards that offer welcome bonuses that have spending requirements as low as $500.
What is a black card?
The credit card most associated with the phrase “black card” is the Centurion® Card from American Express, or the “Amex Black Card.” It was released in 1999 and created such a buzz that other card issuers wanted to create their own deluxe credit cards to reward their highest-spending customers.
Enter the age of the black card. Now there are many alternatives to the Amex Centurion for consumers of all income levels and credit histories. Many premiere rewards cards have borrowed the black color for their best credit card products, and card issuers have found ways to make their most popular travel rewards cards feel upscale.
The Amex Black Card helped launch the metal card trend, and these days many consumers have at least one metal card in their wallets. There are even no-annual-fee cards like the Verizon Visa® Card* and Prime Visa (see rates and fees) now that are made of metal. But a true black card is invitation-only and was designed for only the most top-tier spenders.
How To Get The Amex Centurion Black Card (INSANE Benefits!)
FAQ
How rich do you have to be to own a black card?
How much does it cost to own a black card?
The Centurion Card from American Express offers white-glove service to a select, chosen few. Better known as the Black Card, you’ll need a personal invitation from AmEx to apply, and if approved, you’ll be on the hook for a one-time $10,000 initiation fee on top of a $5,000 annual fee. Terms apply.
How do you become a black card owner?
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.
Can a millionaire get a black card?
Eligibility and Financial Requirements
Obtaining a black card is not an easy task; the requirements are confidential and not publicly revealed. These cards are exclusive to a small elite whose spending patterns far exceed the $67,000 national median household income.