I reviewed two credit cards before: American Express Centurion Card (also known as the Black Card) and Citi Chairman Card. Both of them charge very high amount of annual fees ($2500 for Centurion Card and $500 for the Chairman Card). Note that the Citi Chairman Card is also an American Express card. Actually, there are many other cards network (Via and MasterCard) offering high annual fee credit cards. The 2007 Luxury Brand Status index (LBSI) survey from the New York-based Luxury Institute indicated that the American Express Centurion Card is the most prestigious credit card among those super wealthy.

Other high-end cards were also rated by the group of 500 ultra-wealthy American consumers with an average $77.5K income and $14.4 million networth. According to the study, American Express Platinum Card was rated as the second best credit card among those super wealthy. And MasterCard Platinum, MasterCard World, MasterCard World Elite, Visa Signature and Visa Platinum were also rated. MasterCard World Elite Card ($395 annual fee) was rated as the third best card.

Obviously, the affluent represent a high-spending and low-risk crowd. They typically charge hundreds of dollars in a single transaction. The credit card issuers can get pretty much transaction fees from the retailers. There are more credit card issuers join this market which will bring high profitable merchant fees to them.

Bank of America later launched the Bank of America Accolades American Express card which is designed to cater the ultra wealthy of Global Wealth & Investment Management’s client. The Accolades card provides the highest level of service Bank of America can offer — superior rewards and unparalleled benefits. Only those with with more than $100,000 in deposits and investments will be invited to apply, and the $295 annual fee will be waived so long as the client maintains a relationship with Bank of America.

Another prestigious credit card for our rich people is the Stratus Rewards Visa Card issued by US Bank. This card is also known as the “white card“. This card has a $1,500 annual fee and only be obtained by invitation or nomination by another card member.

I hope I would be the one with one of the above mentioned credit cards in the future.