Luxury Credit Cards Offer More Than One Can Imagine

Articles List

September 28, 2007

What attracts a potential credit card holder in a credit card offer? This may be a low interest rate, a long introductory period with zero APR, reward programs or instant approval. Some people are looking for beneficial foreign exchange fees, others for low cash advance fees. This is all true for a usual person. But when your income is $200,000 a year these are not the right criteria.

Elite and affluent customers choose a credit card that will provide a mix of travel bonuses, rich rewards and global acceptance. For these customers a credit card is not only a payment method but also a lifestyle.

According to an independent Luxury Institute (www.LuxuryInstitute.com) based in New York the best credit cards of this segment are: American Express Centurion, American Express Platinum, MasterCard Platinum, MasterCard World, MasterCard World Elite, Visa Signature, and Visa Platinum.

All these cards offer their potential customers personal attention, best-in-class services and unforgettable experiences - so called concierge service. What does this imply?

1. Travelling expertise. This means that a cardholder will be able to get advice on flights, hotels, cruises by the best experts in this field. Which is more he or she can make best reservations.

2. A cardholder can get free access to special events and also tickets to performing arts and theatre events as well as art galleries. And also the best table will be booked in the most fashionable restaurant in major cities of the US by a concierge service.

3. Rich credit rewards in the form of travel bonuses, merchandise and entertainment incentives and no credit card limit.

But there is a rather curious detail worth mentioning. Whereas in the past the affluent customers tend to value things like appearance, status and privilege, they are now looking for life experience and professional expertise. This is precisely what concierge service offers.

If we compare credit cards of premium class we will definitely see differences between them. Some are more travel oriented; others have good reward programs. Each credit card has its own personality. But it was estimated that the best credit card among elite cards is American Express Centurion Card known as Black Card for its color.

Previously it was available by invitation only which made it even more prestigious. But now you can apply for it like for a usual credit card, although you must meet strict requirements. And the annual fee, according to estimations made in 2007, makes up $2,500. Which with the one-time joining fee of $5,000 for the US citizens make up "seed money" for the following unlimited spending.

Originally the Centurion card was the first black card. But recently many credit card issuers copied it and launched their own "black cards". The UK NatWest bank issued their "Black Card". Another British bank Coutts & Co launched its Mater Card's Signia. There is also a Carbon Card by Halifax. All these cards provide exquisite services to lucrative high-end market.

But nothing can outmatch Centurion, for it is unique even in design. The card is very heavy because of its titanium make-up. It is the only metal charge card in circulation.

So, concierge service remains the most desirable option, for it indicates your financial status and position.