The American Express Centurion Card, more commonly known as the “Black Card,” is one of the most exclusive and prestigious cards in the world. It’s shrouded in mystery and intrigue, catering to the ultra-wealthy who live luxurious lifestyles. But just how rich do you need to be to get the Amex Black Card? What is the average income and net worth of Black Card members? Let’s take a closer look.
Black Card Basics
First some background on the Black Card. Amex’s Centurion Card, which can only be used with an invitation, came out in 1999. There is a $10,000 start-up fee and a $5,000 yearly fee. People who have a card can use a personal concierge, use airport lounges, get special treatment at hotels and airlines, go to special events, and more. There’s no pre-set spending limit.
The card is made of anodized titanium (not actually black) and has no numbers – just the cardholder’s name. It’s a true status symbol only available to the top Amex customers Centurion has around 100,000 members globally.
You Need to Be Rich to Get One
Many people say that you need to spend at least $250,000 a year on an Amex card to get an invite to the Black Card program. Some say that you need to spend as much as $500,000 or even $1 million a year. Amex doesn’t say what the minimum is, but you need to spend a lot of money.
In addition to high spending, you generally need to have excellent credit and significant assets. The Black Card is all about prestige and luxury – it’s for millionaires and billionaires. While Amex doesn’t publish income or net worth requirements, we can get an idea based on their marketing materials.
Insights from Centurion Magazine
Centurion magazine is sent exclusively to Black Card members. The average Centurion reader has a household income of $1.8 million and a net worth of $11.4 million, according to Amex’s media kit. They own an average of 6 properties and are 57 years old.
So while the spending requirement might be $250k+ to get approved, the typical cardholder earns over $1.8 million per year. They are ultra-high net worth individuals worth over $11 million on average.
To put this in perspective, the median US household income is around $70,000. The average US net worth is approximately $746,000. Black Card members live in a completely different financial stratosphere than ordinary folks.
Private Jets and Mansions
With the Centurion Card, the sky is the limit. There are reports of people buying $170 million paintings, private jets, mega-yachts, mansions, luxury cars, and more using their Black Cards. When you have practically unlimited spending power, anything is possible.
Given the high net worths of Black Card members, it’s likely that they’ve bought expensive items worth millions of dollars. Someone very rich dropping a few million dollars is like the average person buying a new TV or fridge. It’s all relative.
Significant Assets Required
To recap, here are some key stats on Black Card cardholders:
- Average income: $1.8 million
- Average net worth: $11.4 million
- Own 6 properties on average
- Spend over $250,000 a year on Amex
- Ultra-high net worth individuals
So while the spending requirement to get approved may be around $250,000, you really need to be far wealthier to join this elite club. Significant assets in the millions, excellent credit, and very high income seem to be prerequisites based on what we know about existing members.
The Black Card is for the uber-rich looking to maximize lifestyle perks and flex their status. For the average person, it’s probably not attainable, but we can still dream!
How much do you have to spend to get a black card?
There are very high spending requirements to get a black card. A card issuer will usually only invite their most loyal customers who spend at least $60,000 a year to become black cardholders.
The latest Census Household Income Report found the median American household income is $67,521 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 that offer welcome bonuses that have spending requirements as low as $500.
What is a black card?
The credit card most associated with the phrase “black card” is the Centurion® Card from American Express, 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. Many premiere rewards cards have borrowed the black color for their best credit card products, and card issuers have found ways to make their most popular travel rewards cards feel upscale.
The Amex Black Card helped launch the metal card trend, and these days many consumers have at least one metal card in their wallets. There are now metal cards with no annual fee, like the Verizon Visa® Card* and Prime Visa (see rates and fees). But a true black card is invitation-only and was designed for only the most top-tier spenders.
How To Get The Amex Centurion Black Card (INSANE Benefits!)
FAQ
How rich do you have to be to own a black card?
To obtain a black card, like the American Express Centurion Card, you generally need to be a high spender and have a high net worth. While specific income and spending requirements are not publicly disclosed, it’s widely reported that you need to charge six figures annually (over $350,000) on other American Express cards to be considered for an invitation.
How much does it cost to own a black card?
The Centurion Card from American Express offers white-glove service to a select, chosen few. That’s what it’s called, and you’ll need a personal invitation from AmEx to apply. If you get it, you’ll have to pay a $10,000 initiation fee plus a $5,000 annual fee. Terms apply.
How do you become a black card owner?
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.
Can a millionaire get a black card?
Financial and Eligibility Requirements: Getting a black card isn’t easy; the requirements are secret and not made public. These cards are only given to a small group of people whose spending habits are very different from the $67,000 national median household income.