What is the spending limit on the American Express Black Card? There is no spending limit with the Amex Black Card. However, balances must be paid off in full every month.
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Founded in 1850, American Express (AXP) is a financial services company best known for its line of traveler’s checks, credit cards, and charge cards. Two of its most popular cards are the Black and Platinum cards. Both options are charge cards, which means the cardholder doesn’t get charged interest but must pay the full balance when they receive the statement.
But the two have some key differences. The American Express Black Card is a high-end, exclusive charge card that is available to individuals on an invitation-only basis. Consumers may qualify for the American Express Platinum Card based on their credit score and income.
Keep reading to find out what each card offers and how they differ.
Key Takeaways The American Express Black Card is an exclusive charge card offered to high-net-worth individuals (HNWIs) by invitation only.
The American Express Platinum Card is one tier lower. Prospective cardholders may apply online and must meet minimum eligibility requirements.
The Black Card has a hefty $10,000 initiation fee, a $5,000 annual fee, and offers many travel perks.
The Platinum Card has a $695 annual fee with many travel-related perks, and cardholders can earn points for every dollar spent.
Besides Black and Platinum, American Express offers a line of 17 other cards.
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American Express Black Card
The American Express Black Card isn’t available to just anyone. It’s a charge card that’s offered to high-net-worth individuals (HNWIs) only through an invitation. Think of it as an exclusive club. This means that you can’t just apply to join.
Also referred to as the Centurion Card, it’s easy to recognize thanks to its distinctive black color and American Express Centurion. The card itself is made of anodized titanium and weighs almost 14 grams (half an ounce).
The Invitation
Getting an invitation generally depends on a number of factors. The card’s member agreement web page doesn’t have any details on how people qualify for an invitation, while news reports have said that to be invited, you must use your card to the tune of a few hundred thousand dollars to around $1 million a year. Minimum annual income estimates also vary widely.
Having enough disposable income allows the cardholder to maintain the hefty fees associated with the card. According to the cardholder agreement, the Black Card comes with a whopping $10,000 initiation fee and a $5,000 annual fee.
Benefits
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Most of the high-end benefits associated with the Centurion Card are travel-related. The list of card benefits includes:
Global Lounge Collection access to more than 1,400 VIP lounges in more than 140 countries.
to more than 1,400 VIP lounges in more than 140 countries. Fine Hotels and Resorts benefits at more than 1,200 establishments, which include daily breakfast for two, guaranteed late checkout, room upgrades, and hotel and resort credits at eligible properties.
at more than 1,200 establishments, which include daily breakfast for two, guaranteed late checkout, room upgrades, and hotel and resort credits at eligible properties. Complimentary elite status in multiple travel loyalty programs, including Hilton Honors, Delta SkyMiles, Hertz Gold Plus Rewards, and Marriott Bonvoy.
in multiple travel loyalty programs, including Hilton Honors, Delta SkyMiles, Hertz Gold Plus Rewards, and Marriott Bonvoy. Other travel benefits, such as Global Dining Collection access, travel insurance, and crafted journeys for unique experiences.
The American Express Black Card also includes extended warranty and purchase protection benefits. For each dollar you spend, you can earn one Membership Rewards point. Points are redeemable for eligible card purchases, gift cards, flights, and shopping.
When considering any rewards card with an annual fee, remember to weigh the value of the card benefits and rewards against the cost.
American Express Platinum Card
The American Express Platinum Card offers elevated rewards and benefits for people who routinely spend on travel and other purchases. Like the Black Card, the Platinum Card offers an array of features, but it’s less exclusive in terms of who can apply and be approved.
Applying
You don’t have to be as elite or nearly as much of a big spender to apply for the American Express Platinum Card. Unlike the Black Card, you can easily apply for the Platinum option on the American Express website. If you’re a Gold Card holder who regularly charges a reasonable amount of money on the card and pays on time, you’ll likely receive an application.
American Express is not as secretive about this card as it is with the Black Card. The Platinum Card is the next step up from the Gold Card and comes with many luxury benefits. Qualifying for this card requires a very high credit score—and a lengthy credit history. Prospective cardholders also require relatively high income to be approved for the card, though certainly not as lofty as the Black Card.
Recently, American Express extended new payment flexibility features to its Platinum, Gold, and Green consumer and business charge cards that allow cardholders to pay for purchases over $100 over time at a set interest rate, as well as split up any large purchases into set installment payments over time. So, while the Platinum Card is still technically a charge card, it now offers a revolving credit feature with a separate line of credit that makes it similar to a credit card if needed.
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The Amex Platinum Card has an annual membership fee of $695—not nearly as exorbitant as the Black Card. The card’s web page lists more than 40 perks that you receive in exchange for the high annual fee, including:
Hotel statement credits of up to $200 annually on select prepaid bookings through Amex Travel.
of up to $200 annually on select prepaid bookings through Amex Travel. Digital entertainment credits of up to $240 annually when you use your card to charge select streaming services.
of up to $240 annually when you use your card to charge select streaming services. Global Lounge Collection access at more than 1,400 lounges worldwide in 140 countries and counting.
at more than 1,400 lounges worldwide in 140 countries and counting. Airline fee credits of up to $200 when you use your card for qualifying incidental travel purchases.
of up to $200 when you use your card for qualifying incidental travel purchases. Other benefits, including global dining access with Resy, Walmart shopping credits, and up to $200 in Uber Cash.
5 points per $1 on flights booked directly with airlines or through American Express Travel, on up to $500,000 in these purchases each calendar year.
5 points per $1 on prepaid hotel bookings made through Amex Travel.
1 point per $1 on all other purchases.
Again, Membership Rewards points can be redeemed for flights, statement credits, gift cards, and shopping.
As of 2022, the welcome bonus for new cardholders is 100,000 Membership Rewards points after spending $6,000 during the first six months.
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Affluent Savvy
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