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The AmEx brand is—or, at least, originally was—aimed at people who don't care about the cash or discount rewards most other cards offer, and would rather have m
by zyxley 11y ago
The AmEx brand is—or, at least, originally was—aimed at people who don't care about the cash or discount rewards most other cards offer, and would rather have massages in airports, on-call concierges, personal shoppers, and so on.
Just getting the mystical Centurion Card (aka the "Black" Card) requires being personally invited by the company after spending at least $21,000 a month on AmEx cards. They have no credit limit at all, and some people have made multimillion-dollar purchases using them.
- branchless 11y agoAnd then other companies worked out you could print black cards and undercut them. I guess if I want to make a multi-million dollar purchase I'll have to do some extra admin. That aside every other time I purchase from a retailer they and I get to benefit.
- mason55 11y ago> They have no credit limit at all To be fair, none of AmEx's charge cards have a limit. But even the Centurion Card will get declined if you try to spend too much, they just don't tell you what "too much" is. I would even bet that the credit limit formulas across all their charge cards are the same and that the inputs are purely customer & purchase specific. Note that AmEx DOES have credit limits on their credit cards, where the distinction between charge & credit cards is that you "have" to pay off the charge card balance each month (although that isn't even totally true any more).