MYTH BUSTER: There IS a spend limit on the Centurion card!!

[oz_mark]

If you ever seen one you’ll find it’s very underwhelming

You can't just look at it - you have to hold it, to feel it, to appreciate its non-plastic qualities

 

[SOPOOR]

You can't just look at it - you have to hold it, to feel it, to appreciate its non-plastic qualities

I certainly hope so, "made of titanium, crafted at 14 million degrees, hand made, unique in every way, can't bend"

I wonder if its unable to be cut with a pair of scissors as recomeneded when you can't pay it off

 

[Flying Fox]

I certainly hope so, "made of titanium, crafted at 14 million degrees, hand made, unique in every way, can't bend"

It is said that if you heat this card up enough it will glow and hidden words can be read....

One Card to rule them all, One Card to find them,
One Card to bring them all, and in the darkness bind them.

The card has magical powers that makes many a man fear it, they are said to be owned by the card and spend many hours staring and listening to it .....

 

[samh004]

You can't just look at it - you have to hold it, to feel it, to appreciate its non-plastic qualities

And appreciate how is demagnetises the stripe on every other card in your wallet

Guess it just helps propel AMEX to the top.

 

[SOPOOR]

sounds exactly like my card,

im going to heat mine up to 14 million degrees to check the writing,

now all I need is an invite!

 

[haydensydney]

anybody out there with one of these cards, as I have personally never seen one before!

I have one, but it's certainly not the be all and end all. Looks pretty and is a nice piece of wallet jewellery. I wouldn't want to heat it up to 14,000 degrees though!

At my hairdressers the other day, the lady behind the counter said that it was the fourth centurion card that she had seen that day. I have a feeling that they are becoming more common

 

[SOPOOR]

great hayden,

if you don't want to answer any of the questions due to being personal I can perfectly understand

but what sort of a limit do you have, and did you really pay the $4500 odd fee?

what major advantages have you seen over say a platinum card?

I would also imgagine that most would not have seen one, so when you produced it do people look at you as though you've just given them a bouncy check?

what sort of $$$ do you pump through the thing per month?

Im assuming it looks like this


my spending is no where near the limit I would assume is required, I spend between $3k and $13k per month, probably average about $4-$5k, fully paid off every month

i personally would love to have one for the wank factor, but just want to have an indication of how far off I am in reality,

 

[samh004]

Seeing as I know 2 people with it, I can answer 2 of your questions.

what major advantages have you seen over say a platinum card?

The major advantage you most get to use is the dedicated line to get special tickets or get on the guest list of a club, as I’ve seen that used in a number of ways that went against what I would have thought.

One year I had to camp out in line for rugby sevens tickets with my sister, as the only tickets that were available were sold in such a way (2 per person). The line was halfway around the stadium 12 hours before they went on sale. I managed to snag my tickets, but found out that morning as I was waiting in line that my dads friend, who has a Centurion card, asked AMEX and they managed to get him about 20, by simply getting others to line up for him.

I would also imgagine that most would not have seen one, so when you produced it do people look at you as though you've just given them a bouncy check?

Most staff I’ve seen that have accepted it at restaurants don’t bat an eye. It’s just like any other card, though the weight is slightly different. People that know what it is and aspire to own one will notice I guess.

i personally would love to have one for the wank factor, but just want to have an indication of how far off I am in reality,

I know at least in HK that other than the joining fee and yearly fee, the benefits that come with the card there can be added on for extra or left off, so the annual fee in HK can vary depending on what “extras” you desire.

And by that I mean things like memberships to special clubs and such.

 

[NYCguy]

Eh, every other trader employed by the Vampire Squid during the Noughties was toting a Centurion. Amex really needs to issue a card that's really exclusive, perhaps requiring an applicant to have assets of >US$250M to qualify. Not that that there is a shortage of qualified candidates in NYC who would line up for one, but unfortunately I wouldn't be one... Yet...

 

[haydensydney]

What sort of a limit do you have, and did you really pay the $4500 odd fee?
Not sure about the limit, but have never really tested the limit boundary - though its tempting, I doubt I could get away with it. I personally didn't pay the fee, my partner picks up that tab.

What major advantages have you seen over say a platinum card?
None. It's pretty. The concierge is the same but you might get a better apology if they can't do something for you. Anyone with access to google can get what they can get for you, just quicker. Only exception might be restaurants, but often they too can't do much for ya at short notice.

I would also imgagine that most would not have seen one, so when you produced it do people look at you as though you've just given them a bouncy check?
Like I said in my post above, they are more common than myth implies. Theres not really much wow factor anymore. The staff at the IGA across the road from work roll their eyes when I put my $6 lunch on it

What sort of $$$ do you pump through the thing per month?
Lots.

 

[NYCguy]

What sort of a limit do you have, and did you really pay the $4500 odd fee?
]

Yes. As I stated once in another thread about the perceived "value" of the Centurion card, the average cardholder is not hung-up about the annual fee, which costs about the same as a couple of bottles of Clos d'Ambonnay.

I have no idea what my exposure-limit is, but I once checked-in to a suite at Hotel de Crillon for 30 nights and the pre-authorisation for the entire stay plus incidentals cleared without a problem, so I'd guess that they are confident I can pay my bill every month.

 

[SOPOOR]

just curious,

do they only offer centurion cards to someone who already has an amex, or do they also target rich people without amex cards,

and what is the lowest limit on an amex centurion card?

and do they sort of just give you the limit you had on your existing amex card like with the CBA when going from Standard to Plat?

 

[Diesellife]

just curious,

do they only offer centurion cards to someone who already has an amex, or do they also target rich people without amex cards,

and what is the lowest limit on an amex centurion card?

and do they sort of just give you the limit you had on your existing amex card like with the CBA when going from Standard to Plat?

Centurion is a charge card and hence, no "pre-set spending limit" and thus no disclose "limit" applies. But my guess, the Centurion is only a change of color, nothing else to it... e.g. you could have the same spending power regardless the color of the card (Green, gold, plat or black), so long you can repay.

 

[SOPOOR]

Centurion is a charge card and hence, no "pre-set spending limit" and thus no disclose "limit" applies. But my guess, the Centurion is only a change of color, nothing else to it... e.g. you could have the same spending power regardless the color of the card (Green, gold, plat or black), so long you can repay.

wait a minute, as in debit card???

I assume its like a normal credit card, but being a premium one, you might have a limit ranging from 100k-$10million, and obviously on top of the high annual fee, you get charged 15%-25% or whatever the interest rate is with or without a interest free period??

or have I got it completely wrong?

 

[oz_mark]

wait a minute, as in debit card???

No, it acts like a credit card, but has no pre-set limit. In addition, it must be paid off each month in full (otherwise you get hit with liquidated damages). So, not being a credit card, the concepts of interest free period etc, don't really apply.

 

[Diesellife]

wait a minute, as in debit card???

I assume its like a normal credit card, but being a premium one, you might have a limit ranging from 100k-$10million, and obviously on top of the high annual fee, you get charged 15%-25% or whatever the interest rate is with or without a interest free period??

or have I got it completely wrong?

Centurion is a charge card, the unofficial criteria is to spend 200,000 per year on any amex charge card. Charge cards require you to pay the entire balance off every month, thus does not incur any interest.

Given the unusual high spending criteria, the person who got offered a Centurion would already have high purchase power in his/her previous card and thus the Centurion will automatically come with at least 200,000 spending power (Depends on how much his previous avg charge was).

You can visit Amex site for AMEX green, gold, platinum (Charge) for details.

 

[SOPOOR]

Ive just been to the amex website, geez its confusing,

so my understanding is that there is a standard, gold and plat credit card,

and also a standard, gold and plat charge card

im not too sure what the difference between the two is, ie if you pay it all off at the end of the month then your interest will be ZERO

does that mean you can only get a centurion card if you have a charge card but not a credit card?

and with the centurion card, what do you mean by liquidated damages, isn't that simply interest?

 

[drewbles]

Ive just been to the amex website, geez its confusing,

so my understanding is that there is a standard, gold and plat credit card,

and also a standard, gold and plat charge card

im not too sure what the difference between the two is, ie if you pay it all off at the end of the month then your interest will be ZERO

does that mean you can only get a centurion card if you have a charge card but not a credit card?

and with the centurion card, what do you mean by liquidated damages, isn't that simply interest?

Charge Card - When your statement arrives to you each month, it *must* be paid off in full. There is no interest charge on a charge card, instead they'll hit you with liquidated damages for failure to repay the amount in full.

Credit Card - Balance does not need to be paid off in full, however, if it is not, interest will apply. Outstanding balance can transfer from month to month, and interest will continue to accrue.

Charge cards were Amex's traditional line. They only introduced a normal Visa/Mastercard style Credit Card product in the past 10-15 years. Prior to that, if you had an Amex, it was the same as a Diners Club Card. Account arrives, you have to pay it all immediately.

Centurion is an unpublished Charge Card from Amex, usually only available by invitation and is around $9k per year to have in your wallet to cough up for an annual fee (Jerry Seinfeld was the first person to be issued one).

Liquidated Damages equate to a late payment fee in real world terms. Generally, Amex will charge you at the rate of 3% or $10, whichever is greater. Whilst this may seem like credit, it's not. It's a charge for not paying the full amount that is due. Failure to pay the full amount in a timely manner will result in them taking action to recover the full amount owing.

Think of a Charge Card more like a Store Credit account (not a card, an account with a store) on 30 day terms. Failure to pay an account at a store within 30 days may do nasty things to your credit history also. The Amex Charge Cards just let you buy things at lots of stores, rather than just one

 

[Diesellife]

The Amex Charge Cards just let you buy things at lots of stores, rather than just one

I love that line...

 

[ejb]

Centurion is a charge card, the unofficial criteria is to spend 200,000 per year on any amex charge card. ...

As mentioned previously in this thread and others, $200K per year will not get you a Centurion Card automatically. I put that though some months and have not been offered a card as my spend is work related and therefore not "included" when Amex look at me.

ejb