Exclusive Extreme Credit Card
Extreme credit card membership is becoming less exclusive as new sky high limits and top rewards are offered.
First, there was the American Express Black Card with its exclusive card privileges. With its titanium composition and black design, it gives the cardholder a feeling of black tie class and importance.
Fortunately for consumers, the AmEx Black Card is no longer the exclusive, extreme credit card. Other card issuers now offer their own unique brand of fancy perks and personalized services.
But; like the black card, to get approved for these extreme cards you need far better than average credit. In order to offer these high perks to cardholders, they are reserved for high spenders with solid credit histories and proven not to be high risks.
Not only do the issuers have less risk with such cardholders, the high purchase amounts result in the card issuers getting larger processing fees from merchants, which is a much more valuable revenue stream than the interest income from middle and low income cardholders.
The Black Card: The most important benefit of the Black Card is the prestige that comes with the card. This black card has an unlimited credit limit and you have to be invited to even apply for this card. We found that even the website blackcardclub.com even asks for a membership first. Part of the prestige of this black card involves private parties and exclusive events. You may want to ask your American Express representative if you feel you're income level meets this prestige of the Black Card.
Invitees must have an American Express Platinum Card for at least one year. They are required spend a minimum of $250,000 during that year and pay their monthly balance in a timely manner. Monthly charges should include frequent high-end travel, a fondness for luxurious entertainment, purchases at the finest shops and an affinity for attending notable leisure activities. Additionally, their personal finances must be impeccable and their assets sufficient to repay vast amounts of money.
As an added bonus for the $2,500 annual fee, the newest American Express Black Cards are made of titanium.
The Bank of America Accolades™ American Express® card, the first premium credit card designed exclusively for Bank of America's affluent, wealthy and ultra wealthy clients served through Premier Banking & Investments™, The Private Bank of Bank of America and its extension, Family Wealth Advisors.
The new Bank of America Accolades card delivers to clients some of the most competitive benefits and features available in a premium card and represents the latest relationship-based offer from Bank of America for its affluent and wealthy clients. In order to reward clients for continuing to do business with Bank of America, the bank will rebate the annual fee for its Premier Banking & Investments, Private Bank and Family Wealth Advisors clients.
"As our clients accumulate wealth and their needs change, we will be with them every step of the way, with innovative products to help fulfill their needs and represent what we believe to be the best Bank of America has to offer," said Global Wealth & Investment Management Products Group President John Bahnken. "The Bank of America Accolades card is yet another proof point in our commitment to rewarding clients and deepening relationships through an integrated approach to wealth management."
The Bank of America Accolades card is designed for clients who value the service, rewards and convenience associated with building broader relationships through Bank of America. Cardmembers will enjoy exclusive access to once-in-a-lifetime adventures and experiences, limited edition memorabilia and access to premier events and attractions, along with a broad range of travel offers and upgrades, including privileges at some of the world's top hotels, complimentary airline companion tickets and emergency medical evacuation.
The card also is designed to ensure clients receive the exceptional service they expect, through a dedicated team of some of Bank of America's most experienced service representatives available around the clock. Cardmembers will also have access to a full-service concierge to cater to clients' wishes at a moment's notice, including event tickets, gift referrals, restaurant reservations, and travel information and assistance.
Further, clients with more than $200,000 in assets with Bank of America will receive access to enhanced benefits, such as comprehensive identity theft protection and recovery services, and complimentary access to more than 500 airport lounges worldwide. Clients in The Private Bank and Family Wealth Advisors will also have the ability to use rewards points to make charitable contributions matched by Bank of America.
Bank of America has been serving affluent and wealthy individuals for more than 200 years. The bank's holistic approach already incorporates trust and investment management, retirement solutions, world class credit, philanthropic management and banking services.
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