The Motley Fool
Published Aug 02, 2021 12:00
Updated Aug 02, 2021 12:15
This Is the Most Difficult Credit Card to Get Approved for
Obtaining a credit card couldn’t be more straightforward: you fill out a few details on an application form and wait for the card issuer to approve it. No big deal, right? Even your cat could do it.
Well, that’s not the case if you’re looking to acquire a specific credit card people typically associate with high-class business moguls, celebrities, and those rich enough to purchase a yacht on a whim.
This card instantly conjures images of glamour and prestige. It’s considered a premier symbol of illustrious status and immense wealth. The perks it offers will make you feel like royalty. And it’s so elusive and exclusive there’s no official application form. You actually have to receive an invitation from the card issuer to have the privilege of owning one!
So, what is this mysterious credit card, and what does it take to get a hold of one?
The most difficult credit card to get approved for in Canada: The AMEX Black Card The American Express (NYSE:AXP) Centurion® Card, informally known as the AMEX Black Card, is the most exclusive and prestigious credit card available. Aimed squarely at those with enormous bank accounts who live extravagant lifestyles, it offers a broad array of benefits that go above and beyond your typical credit card.
First introduced by American Express in 1999, the posh card is sure to make an indelible impression when plunked down at a table. Given its rarity and exclusivity, it speaks volumes about the wealth and status of anyone who holds one. The card is even referenced in popular culture, appearing as a prop in film and television shows and mentioned in songs by artists like Kanye West.
How to qualify for the AMEX Black Card While the terms and conditions of the AMEX Black Card are freely available online, there’s no official application form. Card membership is by invitation only at the discretion of American Express.
Details about the eligibility criteria are scant, but over the years, reliable sources have assembled a list of attributes that may qualify you for the luxurious card. You must
How much does the AMEX Black Card cost? The Amex Black Card is a pricey piece of plastic. There is a one-time initiation fee that will set you back $10,000. After that, your annual fee obligation is $2,500. The card charges an interest rate that’s equal to the prime rate + 12.74%, which is in line with other AMEX credit cards.
Features and benefits The Amex Black Card is no slouch when it comes to exceptional features and lavish perks. Here are SOME of them:
The post This Is the Most Difficult Credit Card to Get Approved for appeared first on The Motley Fool Canada.
American Express is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool has no position in any of the stocks mentioned. Fool contributor Mark Gregorski has no position in the companies mentioned.
This Article Was First Published on The Motley Fool
Written By: The Motley Fool
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