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% 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 5th 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.
For more information about
the Centurion Card, check out the following
links: Introducing the Centurion Card and Overview
of the Centurion Card.
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. You can find
out more about the Carte Blanche card at the
Diners Club International home page and at Smarterliving.com.
Visa Signature Card
No preset spending limits,
purchase protection, and travel services are
the perks offered by the Signature Card.
World MasterCard
No preset spending limits,
global acceptance, travel rewards, and concierge
service.
Visa Infinite Card
A card to "meet the growing
needs of today's more active and technologically
savvy, affluent international traveler."
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!
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Article complements of U.S. Citizens for
Fair Credit Card Terms (CFCCT). You can learn
more about CFCCT by visiting CardRatings.com.
