What’s the Hardest Credit Card to Get Approved For?

It can be hard to get a credit card, especially if you don’t have much of a credit history. But some credit cards are notoriously hard to get, even if you have great credit. In this article, we’ll look at the credit cards that are notoriously hard to get and explain why they have such strict application requirements.

The Hardest Credit Card to Get Overall: The Amex Centurion Card

Without a doubt, the hardest credit card to get approved for is the American Express Centurion Card, better known as the “Black Card.” This ultra-exclusive card has an initiation fee of $10,000 and an annual fee of $5,000. But what really makes it so difficult to obtain is that it’s invitation-only.

If you want to be considered for a Centurion Card, you must already have an American Express card. Experts say you’d have to spend at least $250,000 a year on Amex cards to be eligible. Even then, you’re not guaranteed an invite. The Centurion Card is the most exclusive and hard to get credit card because it is a sign of wealth and status.

Other Super Exclusive & Hard-to-Get Credit Cards

While no other card tops the Amex Centurion, there are a few other extremely exclusive credit cards with strict application standards:

JP Morgan Reserve Card – This card is also invite-only and charges a $10,000 initiation fee plus a $550 annual fee. You’re expected to have at least $10 million in assets with Chase Private Client to qualify.

Dubai First Royal Mastercard – With a $100,000 initiation fee and a $2,000 annual fee, this is one of the most expensive cards available. You must have at least $1 million in liquid assets to be approved.

The high-end Beverly Hills sports car dealership O’Gara Coach gives out the Stratus Rewards Visa. To get this card, you need to make at least $1 million a year. There’s a $1,200 annual fee.

The Coutts World Silk Card is given out by the private British bank Coutts. To get one, you’ll need £1 million in assets that can be invested. There’s a £450 annual fee.

Why Rewards Cards Are Hard to Get

Premium travel rewards credit cards like the Chase Sapphire Reserve and American Express Platinum are very desirable, so they also have stiff approval requirements.

These cards offer valuable perks like airport lounge access, up to $300 in annual travel credits, and bonuses worth hundreds of dollars. But with rewards that lucrative, issuers restrict approvals to consumers with high credit scores and incomes.

For example, recommended credit scores to get approved for the Sapphire Reserve and Amex Platinum are around 720. Many issuers also prefer to see annual incomes of at least $75,000 – $100,000.

Low Interest Rate Cards Require Great Credit

Nowadays, average credit card interest rates are over 19%. But a select few cards offer highly competitive rates under 15% APR. To qualify for these low rates, you need a pristine credit history.

For example, the PenFed Platinum Rewards Visa has no annual fee but charges only a 9.49% – 17.99% variable APR. To get approved, you’ll need a FICO score of at least 680. Meanwhile, the Simmons Visa charges 12.25% – 22.25% APR but requires a minimum score of 720.

Lenders want to minimize risk by limiting low-rate offers to borrowers with proven repayment ability. So having great credit is key to getting these deals.

Why Student Cards Can Be Tough to Get

Interestingly, some student credit cards also have rigorous approval criteria. Most student cards are easy to get because they’re made for young people with limited credit history.

But a few student cards aimed at higher spenders expect applicants to already have excellent credit. These include the Bank of America Travel Rewards Card for Students and Discover it® Chrome for Students, which require credit scores of at least 720.

With such great credit, these young applicants could qualify for almost any card. Yet they choose student versions for the unique protections, like low fees and rewards on study abroad programs.

Business Credit Cards Want Proven Earning Ability

Small business credit cards are notoriously difficult to get approved for, unless you have an established company with significant yearly revenue. That’s because lenders want proof the business can readily repay debts.

Cards like the Chase Ink Business Preferred Credit Card and Capital One Spark Miles for Business have minimum yearly revenue requirements of $100,000 or more. Your personal credit score is also scrutinized, with recommended scores of 690+ needed.

Meeting the earnings and credit standards demonstrates to issuers that your business is successful enough to justify the responsibility of a credit card.

What Makes Credit Cards So Hard to Get?

We’ve covered the credit cards notorious for strict approval policies, but what exactly makes them so hard to get? Here are the key factors:

• Excellent credit scores required – Most difficult cards mandate near-perfect scores of 720+ for approval.

• High annual income expectations – You’ll need to prove an individual or business income of at least $100,000 – $250,000+ per year.

• Invitation-only policies – The most exclusive cards can only be acquired if you’re invited to apply after meeting asset and spending minimums.

• Limited cardholder slots – Issuers intentionally limit membership numbers on ultra-prestigious cards to boost exclusivity.

• High fees – Steep annual, initiation, and membership fees deter applications from all but the wealthiest consumers.

Simply having great credit isn’t always enough – you often need an exceptionally high income too. And for the most elite cards, just being wealthy isn’t enough either. You must be invited by the issuer to even submit an application.

Tips to Improve Your Chances of Getting a Premium Card

If your goal is getting approved for a top-tier credit card, here are some tips to boost your odds:

• Maintain exceptional credit by keeping card balances low and making on-time payments. Aim for a minimum score of 720.

• Reduce your credit utilization rate below 30%, and ideally below 10%.

• Build a strong and lengthy credit history over many years.

• Avoid applying for too many new accounts in a short timeframe. Space out applications by 6+ months.

• If declined, call the issuer’s reconsideration line to plead your case for approval.

• Consider getting a less-competitive version of the card first, then requesting an upgrade.

• Bank with the card issuer to establish a relationship that may improve your approval chances.

• Boost your declared income through career advancement, entrepreneurship, investing, or other means.

While getting one of the absolute toughest prestige cards is unrealistic for most, you can set yourself up for approval of top-tier rewards cards. With exceptional credit management and ample income, your chances are good.

Should You Even Try to Get an Ultra-Exclusive Card?

Chasing elite credit cards that have near-impossible approval standards probably isn’t the wisest financial move. The reality is that premium travel rewards cards can provide exceptional value and luxury perks at a fraction of the cost.

Unless you regularly spend six figures annually on credit cards, an Amex Centurion or JP Morgan Reserve Card membership wouldn’t justify the astronomical fees. And you likely wouldn’t maximize the returns on your enormous investment.

Rather than obsess over plastic prestige, focus on finding a rewards card that best fits your lifestyle and spending habits. For frequent travelers, airline and hotel cards can unlock VIP benefits. For foodies, choose a card with bonus rewards for dining. There are hundreds of excellent yet attainable cards to consider.

Getting hung up on owning the most exclusive status symbol can lead you to overspend and undermine smarter credit card strategies. Find a card that provides long-term value and security. With the right card choice, you can enjoy premium perks without straining your bank account.

The Bottom Line

Obtaining approval for the most elite prestige credit cards is a very high bar only surmountable by a tiny fraction of wealthy cardholders. From ultra-exclusive cards like the Amex Centurion to premium rewards cards, having stellar credit is only the beginning.

You must also pass rigorous income requirements, get invited to apply, and pay sky-high fees. But for most consumers, the smarter path is choosing an accessible card with reasonable fees that best aligns with your needs and budget. With a selective application strategy, you can land a top-tier card match without pursuing unattainable luxury status symbols.

While the American Express Centurion Card, also known as the Black Card, is considered one of the most exclusive and prestigious credit cards, there isn’t a universally recognized “higher” card.