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The Top 10 Credit Cards for the 1%

Centurion Card

Credit cards are designed to make our lives easier when we're running low on funds. Use them wrongly, and you may end up in a very awkward situation. Most of the credit cards we use can be obtained by virtually anyone living on an average income. To a majority of the population, a low interest rate charged on a credit card is about as exclusive as it can get. However, there is a small group of credit cards designed just for the extremely wealthy, commonly referred to as the 1%. You won't see these cards on any ads as they are not accessible to the average Joe. You want to be rich and/or famous first before you can even get to smell the scent of these prestigious plastics.

Here are the top 10 credit cards for the 1%.

Visa Infinite

The Visa Infinite is the best option for the ultra rich people residing outside the U.S. Some of the countries that are eligible to the card include France, Canada, Nigeria, South Africa, Egypt, Russia, and Jordan. The card requirements will depend on the particular country. However, all countries require that the client have 6 figures in the account as well as pay an annual fee that is usually about a few hundred dollars. Like its other exclusive credit cards, it includes a wide range of services such as health advice, shopping at exclusive luxurious stores, dining at 5-star restaurants, air travel upgrades, and travel planning.

Black Brazilian MasterCard

This card is as far as you go when it comes to exclusivity, at least in Latin America. It is accessible to members of the private bank of Santander Group. It's still not known how much money one needs to have in their account for them to be invited. There are just 3,000 cards available in Latin America. The merits of the card include worldwide airport lounge access, private jet discounts, and 24/7 concierge service. Of course, you will have to part with an annual fee of just $349 if you are a cardholder.

Merrill Accolades American Express

In order to access this card, you have to be in the Wealth Management division of Merrill Lynch client list first. The card is awarded by invitation and is stamped with the Merrill Lynch golden logo. It charges an annual fee of around $295, which is not applicable if the client has a minimum balance of $250,000 in his/her Merrill Brokerage Account. However, it comes with a spending limit of $500,000 and attractive perks such as 24/7 concierge service, jet membership discounts at Sentient Jet private , exclusive amenities at specific resorts, flight upgrades, and travel accommodations.

Citigroup Black Chairman Card

This is one of the most exclusive credit cards there is, as apart from wealth, you also have to be one of Citi’s private bank & investment units members. It is only accessible to 5 percent of the population. The card comes with a credit limit of $300,000 and an annual fee of $500. In exchange, cardholders get to enjoy 24/7 concierge services, enhanced travel accommodations, and private access to airport lounges.

Stratus Rewards Visa

The Stratus Rewards Visa breaks the norm of black cards and goes the other way: white. Like most of its peers, this card is only accessible through invitation to super rich clients. Perhaps the most unique feature of the Stratus Rewards Visa Card is that it allows the cardholder to combine their reward points with associates, friends, or other cardholders and redeem them for flight hours via private jets. Other advantages include consultation with lifestyle experts, merchandise discounts, upgrades at luxury hotels, car service, discounted charter flights, and personal concierge services.

Coutts World Silk Card

This credit card is designed for royalty. The card is used by Britain's Queen Elizabeth herself and around one hundred other clients who have a Coutts account with at least $1 million. The credit, which is royal purple, comes with an exaggerated 49.1% annual rate. Of course, it has its perks such as exclusive shopping at designer stores, access to luxurious airport lounges, and 24/7 concierge service.

Dubai First Royal MasterCard

For those who are mesmerized by the glitter of gold and the sparkle of diamonds, then this card will certainly leave a mark on your heart. The top and left sides are decorated with gold, while the center features a solitary diamond (.235-carat). But the show does not end there. The card comes with a team of “lifestyle managers” working round-the-clock to fulfill every request from the cardholder. And since it does not have any restrictions or credit limit, cardholders can spend as much as they wish, as long as they are have a special invitation from Dubai First.

NatWest Black MasterCard

When it comes to luxury, you have to stand in awe at the NatWest Black MasterCard, considered one of the world's most private credit card with a spending cap of $1.5 million. It is also one of the most popular credit cards among its peers, as it has a relatively low annual fee of just $395. The card will open doors about everywhere you go. Notable benefits include 24/7 concierge services, flight upgrades, and travel accommodations.

American Express Centurion Card

Considered the world's most exclusive credit card, the American Express Centurion Card was introduced in 1999 and still revolves a bubble of mystery that has gone a long way towards maintaining its high class status. American Express does not like to disclose how one gets to become a cardholder, but there have been a few leaks over the internet since it was started. For starters, for you to be eligible, you need to be a cardholder of the American Express Platinum for at least one year. Even then, you need to receive an invitation to join the elite members of the American Express Centurion. Certified members are required to pay $5,000 on registration, and then $2,500 annually. Fortunately, this comes with lucrative benefits, like the ability to close down an entire luxury retail shop to buy in privacy, personal shoppers, complimentary hotel rooms, access to flight upgrades, and 24-hour American Express concierge.

JP Morgan Chase Palladium

The JP Morgan Chase Palladium made its entrance about a decade after the American Express Centurion Card was introduced. The card is made of gold and laser-etched palladium, and is designed for those who are in close contact with JP Morgan investment bank, wealth management, or private bank. The card comes with an yearly fee of $595 and no spending limit. It offers a very attractive rewards program, with each dollar spent on travel earning the cardholder 2 points. There is an additional bonus of 35,000 points as well after spending $100,000.

Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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