Premium Credit Cards Offer Premium Benefits. But Do You Qualify?
So you've worked to improve your credit record, and color by color, metal
after metal, you've climbed the credit card ladder. Blue, silver, gold, platinum.
Very impressive. Think you've reached the top?
Not yet.
Not long ago, having a Platinum card in your pocket meant that you were at
the top of the credit card game. It's still impressive. However, the credit
industry has succumbed to "keeping up with the Joneses" syndrome, and credit
card companies are beginning to aggressively market cards with "elite benefits".
Elite cards offer enhanced benefits and prestige.
Cards with exceptional privileges do have limited membership. As an example,
only 1 percent of American Express platinum customers have been offered Centurion
membership, and only 1 percent of all American Express customers have a platinum
card!
If you have never considered yourself the type to have an elite card, read
on-you might find reason to apply for one.
American Express Centurion
A sleek black card introduced in October 1999 as a step above some of the newer
cards offered by Visa and MasterCard. The elite of the elite, the Centurion
comes with an annual fee to prove it: $1,000! However, the perks may well be
worth the fee if you live a certain type of lifestyle.
"Many of our prospective cardmembers are already frequent travelers receiving
elite benefits on one airline. The Centurion Card is the only product on the
market that can grant them elite status on four airlines, and much more,"
said James Bush, senior vice president of Consumer Marketing at American Express,
when the card was launched.
Centurion cardmembers are likely frequent travelers, therefore the card caters
to these needs, offering bigger and better frequent flyer rewards, perks and
upgrades at hotels, privileges at Neiman Marcus and Saks Fifth Avenue, and
a personal travel counselor to handle all travel needs.
Notable Perks:
With the purchase of a full fare, first-class transatlantic ticket to or
from London (British Airways), the card holder is upgraded to the Concorde
at no additional cost.
Complimentary international cell phone.
Carte Blanche
Revived by Diners Club International, the Carte Blanche has an annual fee of
$300 and benefits that rival any of the other elite cards.
Aimed at the same type of clientele that the American Express Platinum caters
to, the Carte Blanche card offers traveling perks as well as the usual benefits
associated with the Diners Club card, including a discount dining program
and frequent flyer miles.
Notable Perks:
Members who fly British Airways from the US will receive a complimentary same-class
ticket for a companion. While limited to one trip per year, this perk alone
can more than make up for the annual fee.
Access to more than 200 private, semi-private, and high-end public golf courses
around the world.
Visa Signature Card
No preset spending limits, purchase protection, and travel services are the
perks offered by the Signature Card. For more info., click
here.
World MasterCard
No preset spending limits, global acceptance, travel rewards, and concierge
service. Click
for more information.
Visa Infinite Card
A card to "meet the growing needs of today's more active and technologically
savvy, affluent international traveler." Click
for more information.
MBNA Quantum Card
Promising to provide service beyond the customers' expectations, the Quantum
card carries credit lines from $15,000 to $250,000. Perks? Exceptional perks
made better by no annual fee, no application fee, no balance transfer fees,
no foreign exchange fees, and no cash advance fees.
For opinions and reviews from actual cardholders, be sure to check out our
Cardholder
Reviews section. There are several reviews on elite cards which can help
you decide which one that you would like to carry in your wallet. Even if
you don't qualify, it certainly does not hurt to dream!
Posted May, 2001.
Important Note! The information in this article is believed to be accurate as of the date that the article
was written. Please keep in mind, though, that
credit card offers and terms change frequently. Therefore, we can not
guarantee the accuracy of the information in this article. Please verify
all terms and conditions of any credit card offer prior to applying.
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