CNBC Select uncovers the benefits of having a black card, finds out who qualifies and asks whether black cards are worth it.
, 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.
in their wallets. But a true black card is invitation-only and was designed for only the most top-tier spenders.It's hard to find precise information on exactly who qualifies for a black card. Some invitation-only credit cards, such as the, are an additional perk that comes if your assets are managed by a particular banking institution, while others require that you've been a cardholder with an issuer for a certain number of years.
There are also very high spending requirements. 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 $61,937 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 thatSome of the rewards offered by black cards are similar to what you get with more
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