What is the American Express Black Card?

What is the Amex Black Card?

The American Express Centurion Card, known colloquially as the Amex Black Card, is an invitation-only charge card thought to be reserved for American Express’ biggest-spending customers. The card itself is made from anodised titanium and is identifiable by its distinctive black colour.

The idea of Amex having an exclusive black card started as a myth in the 1980s. But in 1999, Amex decided to act on the rumours and create one. The plastic card was followed by a titanium version in 2004 which became renowned for setting off metal detectors in airports.

Word also quickly spread about the card’s apparent ‘plunk factor’, the sound it made when casually dropped on the table due to its weight and texture.

The card has taken on a life of its own since then, cementing itself as a status symbol in pop culture, from James Bond flashing a Centurion Card in Quantum of Solace (2008), to rappers boasting in their music about using black cards. In 2015, Chinese billionaire Liu Yiqian even used his Amex Black Card to purchase a $170 million painting.

How do I get an Amex Black Card?

You cannot apply for an Amex Centurion Card. In fact, the card is not even listed on Amex’s website. You can only get an Amex Black Card if you receive an invitation.

While the exact eligibility requirements are not publicly known, based on forum chatter from existing customers, Australian Frequent Flyer says you will need to:

• Have a high income

• Have held an Amex Platinum Card for at least six to 12 months

• Be spending at least $100,000 a year on your card.

If you meet the eligibility criteria, Amex may send you an invitation to apply for a Centurion Card. You can also request an invitation by contacting Amex directly.

What is the limit on an Amex Black Card?

As a charge card, the Amex Black Card is thought to have ‘flexible spending power’, but this doesn’t mean there is an unlimited spending limit.

Amex says purchases on any of its charge cards will be approved based on a variety of factors, including current spending patterns, payment history, credit records and financial resources.

Charge card customers also have to pay off the balance on the card in full each month or face late fees. This is different to credit cards, where cardholders can choose to pay off the balance in full or in part (which incurs interest). Credit cards also come with a set spending limit.

How much does the Amex Black Card cost in Australia?

Business Insider says the Amex Black Card is thought to charge a $10,000 initiation or joining fee and a $5,000 annual fee. But according to some customers quoted in online forums, you may be able to get the initial $10,000 fee waived in some circumstances. These fee totals are in US dollars, so they may be more expensive when converted to the Australian market.

As it is a charge card, this type of card would not incur interest, but charge cards require you to pay your balance in full every month or you will be charged a fee.

What are the benefits of an Amex Black Card?

The Amex Black Card is rumoured to come with significant perks. While Amex doesn’t publicly provide information about the benefits, based on reports from existing customers and media sources, benefits are speculated to include such things as:

• The ability to earn Reward Points that can be converted to airline points, including Qantas Frequent Flyer and Velocity Frequent Flyer points

• An International Airfare Program which can give you discounted First and Business Class airfares with airlines like Qantas, Virgin, Emirates, Etihad and Qatar airlines

• Access to airport lounges, including the Centurion Lounge

• Qantas Club membership

• Emirates Skywards Gold Tier membership

• Accor Plus membership

• Hotel Elite Status including Hilton Honors Diamond Status, Marriott Bonvoy Gold Elite Status and Shangri-La Gold Circle Diamond membership

• Avis President’s Club and Hertz Gold Plus Rewards President’s Circle

• Concierge services

• Travel insurance

Keep in mind that these are unconfirmed reports, which have not been verified by American Express itself.

What is the difference between the Amex Black Card and Amex Platinum Card?

Amex’s Platinum Card offers some of the features rumoured to be attached to having the Amex Black Card. The Platinum Card has a cheaper annual fee (of $1,450) than the rumoured Amex Black Card fee.

Like the Amex Black Card, the Platinum Card is also a charge card so it comes with ‘flexible spending power’. The Platinum Card is also aimed at high-income individuals.

The Platinum Card currently offers features including the ability to earn Reward Points which can be converted to airline points, access to airport lounges (including the Centurion Lounge), the International Airline Program which gives discounts on some First and Business Class fares, Platinum Card Concierge services, complimentary travel insurance and Hotel Elite status.

Unlike the Amex Black Card, you can apply for an Amex Platinum Card online as long as you meet the eligibility requirements which are publicly available on the Amex website.

Is the Amex Black Card worth it?

Whether the Amex Black Card is worth it will ultimately depend on your personal needs and financial situation. The benefits this card offers are similar in nature to the Amex Platinum Card and may not be outweighed by its hefty joining and annual fees.

You may find value in the card if you have an extremely high credit card spend (provided you pay off your balance each statement period to avoid hefty fees), are a frequent traveller or simply want the status that comes with being part of an exclusive group of cardholders.

If you’re interested in comparing your credit card options, you can do so by using Canstar’s comparison tables. It’s also important to read any relevant documentation, such as the Target Market Determination (TMD) and Key Facts Sheet, for any credit card product you’re considering.