Centurion Card
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The Centurion Card, popularly known as the Black Card or the Monte Card, is a charge card issued by American Express. The card is available in select markets, mainly the US, Canada, Europe, Japan and Australia. The Centurion Card provides access to a range of exclusive benefits, depending on the country where the card is issued. In the 1980's, urban legends circulated about a black credit card of high spending power. While those legends were false at the time, American Express decided to capitalize on them by introducing the Black Centurion card in 1999 [1].
To become a Centurion cardholder, one must meet American Express's strict criteria. Cardholders are required to pay an annual fee, and in some countries also an initiation fee.
As of 2007, the annual fee in the United States was $2,500, with a one-time $5,000 initiation fee for the first year.
The benefits of the UK Centurion card were upgraded in December 2008, and the annual fee rose from £650 to £1,800 .
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[edit] Availability and fees
As of August 1, 2007, in the United States, stated requirements to become a card holder included minimum spending of $250,000 in a 12 month period, and exceptional credit history. In the UK, there was no minimum annual spend although it is reported that spending £10,000 a month was standard.[citation needed] Requirements for acceptance in other countries differ.
The International Euro (IEC) or Dollar (IDC) Centurion cards issued by Amex UK for customers in Europe, Middle-East and Africa offer up to 22 cards included in the annual fee, including a titanium Centurion Card for the main cardholder, an additional Centurion Card in black plastic for the main cardholder, a supplementary Centurion Card in black plastic for a family member, and up to 19 supplementary cards in green, gold or platinum for family members.[citation needed]
| Country | Annual Fee | Equivalent to |
|---|---|---|
| United States | US$ 2,500 + One-time joining fee of US$ 5,000 |
US$ 2,500 +US$ 5,000 |
| United Kingdom | £1,800 (from January 2009) | US$ 2,800 |
| Canada | CDN$2,500 + One-time joining fee of CDN$5,000 |
US$2,000 +US$4,000 (1:1.25 rate) |
| France, Italy, Spain, The Netherlands, Denmark and Sweden |
€ 2,000 | US$ 2,600 |
| Germany | € 1,000 | US$ 1,300 |
| Switzerland | CHF 2,000 | US$ 1,700 |
| Australia | AU$ 4,300 | US$ 2,800 |
| Japan | ¥ 367,500 | US$ 3,900 |
| Hong Kong | HK$ 19,800 + One-time joining fee of HK$ 23,800 |
US$ 2,600 +US$ 3,000 |
| Singapore | SG$ 5,000 | US$ 3,300 |
| Mexico | About 33,000 pesos | US$ 2,500 |
| International Dollar Currency Card (IDC) |
US$ 2,800 | |
| International Euro Currency Card (IEC) |
€ 2,800 | US$ 4,200 |
| Israel | US$ 2,000 | US$ 2,000 |
| Russia | 85000 Rubles | US$ 3,100 |
| Brazil | R$4.500 | US$ 2,250 |
[edit] Features
The card, available for personal and business use, offers numerous services such as a dedicated concierge and travel agent, complimentary companion airline tickets on international flights on selected airlines with the purchase of a full fare ticket, personal shoppers at retailers such as Escada, Gucci, and Neiman Marcus, access to airport clubs, first class flight upgrades, membership in Sony's Cierge personal shopping program, and dozens of other elite club memberships. Hotel benefits include one free night when at least one paid night is booked during the same stay in every Mandarin Oriental hotel worldwide once a year (except for the New York City property),[2] and privileges at hotel chains like Ritz-Carlton, Leading Hotels of the World, and Amanresorts. All of the benefits mentioned above are for United States-issued cards. American Express Centurion cards issued in other countries may include different benefits. The card has recently added new amenities, including access into the Virgin Atlantic Flying Club Gold, as well as US Airways Platinum Preferred status as of June 1, 2007. As of August 14, 2007, American Airlines Admirals Club access was added to the long list of amenities.[3] The card also features complimentary enrollment in Hertz Rent A Car #1 Club Gold and the Avis Rent A Car Presidents club.[4]
A new Centurion card crafted from anodized titanium was issued as a replacement for all plastic U.S. Centurion cards in the first half of 2006, with the titanium version being rolled out to certain other countries as well. This new card is slightly thicker than a standard credit card, and therefore is sometimes difficult to insert and remove from some card readers, such as the ones found on gas station pumps, and point of sale terminals.
[edit] Publications
Since the inception of the card, members have received a copy of Departures magazine, which is also sent to all Platinum cardholders. However, in 2004, American Express Centurion members began to receive an exclusive "no name" magazine which was not available by any other means. Starting with the Spring 2007 edition, this magazine has been officially titled "Black Ink". The reason given by Ed Ventimiglia, the publisher, was that "now the magazine will be easier to identify when discussing it with like-minded readers." European, Asian and Australian Centurion members receive quarterly the Centurion magazine, published by Journal International GmbH (Munich, Germany).
According to Journal International, the average age of a Centurion cardholder is 49 years. 94% of primary cardholders are male and they have an average of 3.3 properties. Their average household income is €653,000 and their average total net worth is €4.5million. They have an average disposable monthly income of €8,800. Centurion Magazine has been published since 2001 and has a circulation in Europe and the Middle East of 44,100, in Asia of 13,900 and in Australia of 6,000.[5]
[edit] Competitors
The Centurion Card was the first "Black Card", but other card issuers are attempting to enter this lucrative high-end market.
In the UK NatWest bank launched a "Black Card" in 2002, and MasterCard's Signia, which is issued in the United Kingdom by Coutts & Co bank. Barclays offers the i24card and there is also the Carbon card from Halifax, all designed to provide similar benefits to its wealthy clientèle. Wachovia Bank N.A. also has capitalized upon the trend by offering its Wealth Management clients black-colored Visa Signature cards with concierge service and no pre-set spending limits, along with 1.5% back on all transactions.
The Mastercard Moments website[6] mentions the following card types: Diamond, Black, World and Titanium.
As of 2008, Barclays has released their Visa Black Card to a range of limited members (their started target market is 1% of US citizens which means up to 3 million people can be accepted. That equates to revenues for over 150M if all 3M members sign up and pay the $495 annual fee). For an annual fee of $495, members will receive a variety of "luxury gifts" and have access to the Travel Lounge Priority Pass which allows VIP access in certain airports around the world,for a fee of $27 each time for each person. Furthermore, the card is made of black carbon graphite, giving it a slick look. [7] Scott Blum (Buy.com founder) has shown involvement in the card as well. Blum's ThinkTank Holdings LLC announced in 2007 that they would be launching a high-end credit card business with a credit card made out of carbon fiber (patent pending), codenamed “Next Card," which ultimately launched in December 2008 as the "Visa Black Card" instead. This high-tech credit card is aimed at both individuals and corporations for an annual fee of $495. The card has been launched including 24-hour concierge service, points, rewards, and other benefits. [8]
[edit] References
[edit] External links
- Official site - Password protected site.
- Asia Time review of Black
- BBC news review of Black Card
- New:Extreme Cards
- [3] - Centurion ICC Benefit Guide (Public)
- [4]
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