High Life

3 Exclusive “Invitation Only” Credit Cards That 99% of Us Will NEVER Get

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Jeff Cuellar

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Image is very important in Singapore. The way you dress, the car you drive, the house you live in, and the social clubs you belong to all add up to that image. Hell, even the credit cards buried deep in your wallet signals to others – THIS is how much I can afford.

So if you’re pulling out your run of the mill DBS credit card to pay for your $500 meal at one of Singapore’s 5 Most Ridiculously Expensive Restaurants, the waiter will probably smile politely while laughing internally.

However, there are certain credit cards out there that are so exclusive, simply flashing them to a waiter or receptionist is the same as bluntly saying, “I own this room – I own you.”

Here are 3 credit cards that only the super affluent 1% of Singaporeans can get their hands on:

 

#1 American Express Centurion

Annual Fee: $7,490 SGD

Spending Limit: None

The American Express (AMEX) Centurion credit card (aka American Express “Black”) is considered the “King” of credit cards not just because of the fact that it’s made of anodized titanium or because it is an invitation-only credit card given to the most affluent.

It’s the most prized credit card out there because it offers some of the most exclusive benefits available, and has no “set” credit limit. Instead, you actually have spending minimum per year in order to keep the card.

But the biggest “wow” factor about this card is the instant recognition surrounding the “Black” AMEX card – people only need to see it, and you’re assured 100% VIP treatment.

How can you get your hands on the AMEX Centurion credit card?

Well, according to credit card legend, it helps if you already have an American Express Platinum Credit Card and spend about $150,000-$250,000+ annually. Oh, and you must also have an annual income in the millions and a net worth in the tens of millions.

AMEX tends to shroud its membership perks, but from what’s currently know, its perks include:

  • Dedicated concierge and travel agent
  • Complimentary access to hundreds of airport lounges around the world
  • Complimentary companion airline tickets (with selected airlines) and First Class upgrade
  • Personal shoppers for high-end retailers (Gucci, Saks Fifth Avenue, etc.)
  • Hotel privileges at many of the world’s leading hotels
  • Free travel insurance for trips paid for with the card

 

#2 JP Morgan Palladium

Annual Fee: $595 USD

Spending Limit: None

Although the JP Morgan Palladium credit card doesn’t have the “awe” factor that the AMEX Centurion credit card has, what it does offer are comparable benefits and a card made out of – you guessed it, Palladium (yeah, that stuff that powers Iron Man’s ARC reactor).

Oh, and it does come with a much lower annual fee of $595 dollars. Why? Well, it probably has to do with the fact that you’re already paying JP Morgan to manage millions of your investment dollars. So why not keep the annual fee “low” right?

Getting JP Morgan Palladium credit card requires more than just opening up a private banking/investment account. You must put a considerable amount of cash into that private banking account – I’m talking at least $25 million!

The JP Morgan Palladium credit card comes with a lengthy benefits book (50+ pages). Some of these benefits include:

  • Dedicated concierge and travel agent
  • Can accumulate points to be used at the Chase Ultimate Rewards Program online mall
  • Complimentary access to hundreds of airport lounges around the world
  • Complimentary companion airline ticket for full-fare, business class ticket purchase (round-trip) from the US to any destination on British Airways
  • Free private jet perks and flight time with the purchase of a 25-hour jet card
  • Free travel insurance for trips paid for with the card

 

#3 Stratus Rewards Visa

Annual Fee: $1,500 USD

Spending Limit: None

The Stratus Rewards Via (aka the VISA “White” Card) was created as an alternative to the AMEX Centurion credit card (aka AMEX “Black”). The biggest difference between the two cards isn’t the color or the material of the card – but the type of high-net-worth customer it targets.

The affluent individual who exclusively travels by private jet to enjoys the most exclusive lifestyle, sporting, entertainment events and experiences.

So how do you get in?

Well, the only way to get your name on this card is through direct invitation by a current card member or by a partner company associated with the Stratus Rewards Visa card.

The Stratus Rewards Visa credit card comes with many of the “standard” benefits offered by its competitor, the AMEX Centurion card, such as:

  • Dedicated concierge and travel agent
  • Personal shoppers for high-end retailers
  • Hotel Privileges at many of the world’s leading hotels
  • Free travel insurance for trips paid for with the card
  • Private jet loyalty program that lets you redeem points for flight hours

 

Final Note: Don’t worry. I’m still waiting on my invitation to the AMEX Centurion card too. Will it come in? Probably never, but that doesn’t mean it’s not possible to apply for other decent credit cards. Just compare and search for the best available credit card including the AMEX Platinum card mentioned in the article.

 

Are there any other exclusive credit cards that belong on this list? Share your thoughts with us on Facebook! For even more useful information on everything personal finance, visit MoneySmart today!

Image Credits:
Clemson

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Jeff Cuellar

I'm known by many titles: copywriter, published author, literary connoisseur, ex- U.S. Army intelligence analyst, and Champion of Capua.