Funny Money Friday: Credit Cards of the Rich and Famous
Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.
Super premium credit cards are the newest must have luxury for the wealthiest and most famous Americans. And leading the charge (pun intended) is the American Express Centurion Card. Made out of titanium, it's one of the most expensive credit cards in the world.
Commonly known as the "Black Card," this account is offered by invitation only to customers who spend more than $250,000 on their Amex cards each year. New cardholders pay an initiation fee of $5,000 and then $2,500 a year as an annual fee. The Black Card has no pre-set credit limit.
The Black Card has also made a name for itself in popular culture. It's received mentions by Kanye West, Bow Bow, Jay Z, Paris Hilton and Janet Jackson. It has also appeared in movies and on TV. Of course, the card comes with a few perks beyond just bragging rights. Cardholders get airline rewards, personal shoppers, flight upgrades, club memberships, hotel bonuses and private events.
If the card works like other premium Amex accounts, there is not an APR on the Black Card. All purchases made with the Black Card would be due and payable when the cardholders receives their statement. So that $100,000 car you charged yesterday would be due at the end of the month without finance charges.
What do you think of the Centurion Card? Share your feedback in the comments section below. Happy Friday!

