These days it seems that just about everyone has a credit card of some sort. There are all types of credit cards available, from low balance student cards, to secured credit cards for those that have less than stellar credit and just your traditional run of the mill credit cards. But did you know there are some credit cards that most average consumers have never heard about? These are called “invitation-only” credit cards, and unless you are a member of these exclusive clubs, you probably weren’t aware they existed.
Probably the most widely known is the infamous American Express Black Card. While us average folk don’t know all of the exclusive details of the terms and conditions, we do know that this card is typically rewarded to AMEX holders that charge 250,000 or more on their credit card annually. What benefits come with the AMEX Black Card? How about a personal concierge that will basically do anything for you from travel scheduling, restaurant reservations, and VIP concert tickets to a sold out show? Not to mention swanky travel upgrades, and complimentary personalized swag bags when you finally arrive at your destination. Oh, and did I mention that it’s titanium, not plastic?!
Next we have the Chase Palladium card, (made out of precious metals, with the cardholder’s signature etched into the card) has similar perks to the Black Card, and is awarded only to those that are believed to have a private Chase bank account in excess of 20-30 million.
Even large financial institutions, such as Smith Barney and Merrill Lynch have their own invitation only credit cards tailor made for their wealthiest customers.
And the best part—it doesn’t matter what your credit score is to receive these cards—only what you spend!
Don’t worry. While you may not be able to impress your friends by plunking down a titanium credit card, there are plenty top-of-the-line cards that you don’t need to be rich and/or famous to snag, that still offer stellar rewards for average consumers with the best credit scores. Do your research and find one with the lowest APR, minimal or NO annual fee, and that offer the perks that benefit you. Travel often? Get one that offers airline mileage. Love Disneyworld? Get the Disney card to earn points toward that next vacation. You have a lot of options. Just remember to keep your balances low, never exceed your spending limit, and always pay your monthly bill on time.