Posted on 07/26/2005 4:49:28 AM PDT by Vision Thing
"Oh my God, is that a Black Card?' I turned around and replied, why yes but I prefer the term African American Express" – Kanye West, "Last Call"
By now, you’ve probably heard of and seen several of your favorite hip-hop artists toting the "Black Card." Well, as of the past couple of weeks, that is so yesterday.
It seems American Express has ditched the Black Card, officially called the "Centurion," for the new Titanium card. Similar to how the black card was handled, membership is invitation-only. Past Black Card holders included Sean "P-Diddy" Combs, Jay-Z, and Naomi Campbell. Though the company never publicly announced how many Black Cards were in circulation, it was estimated that only roughly 5,000 people in the U.S. had them.
The Titanium cards have already been in circulation in some European countries and have become essential tools among Robb Report type high-rollers.
The card carries a hefty $2,500 annual fee and requires the card holders to charge more than $250,000 a year. Word is that since they are so new, many Titanium cards are being refused by some merchants who think they are not real, and some customers have had problems with airport metal detectors.
Airports aside, the card comes dripping with perks like a personal concierge and travel agent - a service that will get you a table with 24 hour notice at any of the hottest (and priciest) restaurants. Want that hard-to-get shoe? They'll track a pair down and ship it to your suite at the Four Seasons (room upgrade courtesy of the Black Card). First-class seats on some airlines are also part of the deal. If the flight is to Europe, they'll even throw in a loaner cell phone.
Despite the royal treatment, there are some reported drawbacks. A chief executive of a privately held software development firm, in Manchester, England, told Forbes magazine that the Black Card had failed to live up to its hype.
"The Centurion card is for people with more money than sense. Centurion claims to be the best in the world for what they do - but could not find me a proper place to eat when I was on business in Ottawa. Plus, every time I call, I get diverted to a call center. I'm looking around for another concierge company, and the only reason I keep the card in the meantime is because I can put it on the table at a business dinner--and it makes the point. Unfortunately, the card is still a status symbol."
So far, American Express has been mum on whether the Titanium version will upgrade its concierge services. "We don't talk about products before they've been introduced here. But our European customers are happy…"
While most of us may never feel a Titanium card between our fingers, it's always nice to know what's going on in someone else's world.
I have a black Master Card. What!?
The Black American Express card was one of those urban legends that became real:
http://www.snopes.com/business/bank/blackcard.asp
I thought they were toting the "Race Card".
I don't have any credit cards anymore. Hubbie paid them and helped me cut them up....... I have a debit card and no debt. Debt makes you a slave to whomever you owe.
They only ever offer me the platinum card. I'm really going to have to step it up.
(Apparently, I had better start working on a hip-hop album in my garage.)
I have 6 credit cards that I use rarely just to keep open lines of credit. It helped me qualify for my 4.5% 100K loan. (:
Based on this article, AMEX didn't 'keep it real' for too long. As others on this board would say: "He's dead, Jim."
However, you have to hand it to AMEX. As the Snopes article mentions, they tried to capitalize on an urban legend instead of being the victim of it.
If you want to see a "real" Titanium credit card, google "Nemisis Knives Titanium".
That's why I said "was" and "became" ;-)
They should have kept it going the faster these hip-hop morons blowing all their money on "Bling" is good for the economy
I think you're mistaking the Amex card with this one:
Okay, we are slaves to our mortgage company too. But other than that, we are free.
I use two credit cards to pay for everything, including rent. However, I pay them off completely on the due date. It's a good cash-flow tactic.
I'm very happy with my Amex Platinum Cash Rebate card. Yeah, it says "Cash Rebate" on the card, but so what. It has no annual fee, and pays back 1.50% in cash each February. I got something like $1,800 last year. Yeah, I charge a lot. But I pay the bill each month in full. Last year, I had some special charges: I charged a big home remodeling project and the down payment on my wife's SUV. And we had a baby. But everything goes on that card: groceries, prescriptions, diapers, furniture, etc. And I'm self employed, and frequently charge things on behalf of clients and get reimbursed (travel to sites, database subscriptions, etc). So all the charges aren't really mine... But the 1.5% is really quite nice.
It's the same old story with most people who are'blessed' with a large cash windfall. Most people don't know how to handle it, much less milk it for all it's worth. And you're right: P Diddy is an exception. Another exception is Usher. He was all the rage last year, but he knows his fame won't last, so he's taking steps now to diversify his income and preserve his current wealth.
Doesn't American Express require full payments at the end of each month?
Sweet! Sounds like you're making money on the card, despite the high yearly fee on it.
Hell, I could charge $250,000.00 a year.
Didn't say I could pay it back...
Heck, if I could qualify for AMEX Titanium I'd have a cell phone. (Cheeze...sort of like getting a free toaster when you open a bank account with $10,000. )
I think that some cellphones don't operate correctly everywhere. In other words, if a cellphone works in the US, it may not work in Europe. So to help alleviate such an inconvenience, AMEX offered a loaner phone to their pampered black-card clientelle.
i know a number of people that do that for the sole purpose of getting whatever pointsare associated with said card.
Those cut up cards may still be open lines of credit. Check it out.
It's a great feeling, isn't it?
Not worth the annual fee in my opinion. Been there, done that, don't even have a t-shirt any more.
Thanks. got that covered. We closed them out with each company and updated our credit bureau. We are determined to not use credit for anything other than house and car note. It just works better for my family. My husband is in the military, so we are not rich. But if you live within your means the money is okay. My son thinks we are rich... isn't that cute.
With a $2500 yearly fee and a $250,000 minimum spending limit per year, and all you get is concierge service (which the rich and powerful should be able to get from other sources, such as their own entourage), it seems like a bad deal. However, the value seems to be in the screw-you-because-I'm-richer-than-you-are statement that it makes on the more impressionable people amongst us.
I can't be the only one who'd rather be having a beer on his deck while barbequing up dinner for his family.
The Black Card - who cares?
I did the same thing. Now, my only debt is my home mortgage and I hope to have that wiped out in the next 5 years.
I'll be completely debt free.
Yup. I agree. Frugality and being able to say no to the unnecessary are strengths. However, we simple people still need the suckers out there to spend their way into oblivion. As someone mentioned earlier in the thread, they are good for the economy.
Unfortunately, I have more sense than money. But I’d be willing to trade.
Unfortunately, if you end up with the money at the expense of losing the sense, more than likely, you'll end up with neither of them.
So, we should ask for both.
Good point, LOL! But, that's something I'll never need to worry.
Just a quick lesson, the Titanium card is not a credit card. It is a charge card that has to be paid in full upon receipt of the bill each month.
I appears that the picture displays the plastic Centurion Card (or black card). The card made of titanium uses smaller font for “American Express”
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