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The Top 10 Credits Cards that the Wealthy Use

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When you make the kind of money some of the most wealthy do, you can expect that you will have all kinds of creditors knocking at your door, wanting you to carry one of their cards in your wallet. For some of the wealthy, these exclusive credit cards mean status, while for others, it means the freedom to be able to get what they want, when and where they want. With unbelievable lines of credit, these cards have been used to make some of the most extravagant purchases that we average people can not even begin to fathom being able to spend that way. They also offer all kinds of perks that appeal to the rich, with extravagant bonuses and rewards. Credit cards carried by the wealthy are similar to those for the average person, although there are some slight differences. If you have ever been curious to know which credit cards are used by the rich, then keep reading to see what the top ten credit cards are that the wealthy use.

10. Citigroup Black Chairman Card

This card is basically like the JP Morgan Palladium card. This card is only available to the private banking clientele of Citi bank. While credit cards for the average banker and card holder may have small annual fees, this one, for the wealthy, requires you pay a $500 annual fee, but it offers a lot of perks that high-end credit cards offer, such as travel upgrades, personal concierge, and entrance into exclusive airport lounges. For the wealthy who love to travel, this one card that will take you places.

9. Merrill Accolades American Express

Only Merrill Lynch Management division clients are eligible for this credit card, and not only that, but they are by invitation only on top of it. There is a low annual fee with this card and can be similar to cards for the average person, of $295. Card holders may even get this fee waived if the have a $500,000 spending limit attached to the card. The card displays the Merrill Lynch bull logo and that bull means a lot of perks are associated with it, including major hotel discounts, complimentary amenities when you stay at select resorts, as well as a 24/7 concierge service. You can also get a discount with Sentient Jet private jet memberships. It's a card that really shows your wealth status and is one that many wealthy carry in their wallet.

8. NatWest Black MasterCard

The NatWest Black MasterCard gives the rich an incredible spending limit of $1.5 million dollars. The extremely wealthy card holders who have this in their wallet, not only can rest assured they are able to be afford so much with this card with such a large spending limit, but it has a very low annual fee for such a big card of just $395 a year. The wealthiest people are often found with this card in their wallet because they can get flight upgrades using this card, 24/7 concierge service, travel accommodations, among many other perks.

7. Citibank Ultima Card

Rewards and perks aren't just popular to the general public when it comes to the credit cards they carry, but for the very wealthy, too. They want the most out of their cards, too, to get good deals and incentives for using the card. The Citibank Ultima card has those perks and gives the wealthy 120,000 points for no reason at all but simply having the card and can be used toward traveling. Golfers will love this particular card because it offers rounds of golf at select, top-rated courses around the world, at no charge. If that isn't enough, spend a day yachting at no charge with this credit card. The perks are some of the best for the extremely rich because this card knows what the wealthy like to do and they accommodate them all the way.

6. Visa Infinite

You will need six figures in your account to qualify for this card and will be required to pay a small annual fee, but the rewards are great for the rich who love to travel, dine out and shop. There are many perks and rewards for all of these enjoyments in life and you can even receive air travel upgrades, dine at five-star restaurants, and shop till you drop at the best and most exclusive stores. The wealthy who live outside of the United States find this to be one of the best cards, and countries that issue the card are, Jordan, South Africa, Nigeria, Canada, France, Russia and Egypt. These countries issue the card, but first you must qualify.

5. Coutts World Silk Card

If this card doesn't say wealthy, it is said that the Queen of England carries this card herself. It is one that you must have at least $1 million dollars in a Coutts account in order to qualify for the card and only about 100 others, outside of the Queen, carry it. The card has a very high annual percentage rate that cannot be imagined by the average person, of 49.1%, but with it, you get access to exclusive airport lounges, private shopping at exclusive, high end stores, 24/7 concierge services and much more. If you can afford the high interest rates and carry a balance of at least $1million, you can try to qulify for this exclusive credit card.

4. Visa Stratus Rewards

This is a, by-invitation-only card and it isn't black, like many of the credit cards for the rich. The Stratus Rewards Visa is white and you must have a high net worth in order to have this one in your wallet. There is a unique perk attached to this card and it is that you and your friends, as well as together with other card holders, may combine your reward points together and use the points toward traveling by private jets. You can also use points toward car service, luxury hotel upgrades, discounts at exclusive merchants and concierge service. Want another unique perk? Use reward points for a consultation with a lifestyle expert and get tips on how to make your good life, better. For this card to be in your name, you will have to pay a $1,500 annual fee.

3. Dubai First Royal MasterCard

You must be invited to this card by Dubai First, in order to be a card holder. The card boasts of a real .235k diamond in the middle of the card and the trim is real gold. If you are lucky enough to qualify for this card, you will never have to worry about a spending limit with this one, like with many other credit cards, despite those spending limits already being extremely high, the richest people who have this card enjoy that freedom, along with the many perks and rewards it offers to its card holders. This is definitely one of the most exclusive cards for the wealthiest people out there.

2. JP Morgan Chase Palladium

The JP Morgan Chase card is made of Palladium, which many refer to as white gold. You will have to pay a $600 annual fee to carry this card, which doesn't seem like much considering the card alone, is worth $1,000 in gold and Palladium. There are a lot of perks and rewards with the JP Morgan Chase, including getting 35,000 bonus reward points when you spend six figures on the card. But that is only one perk, although a big one. The look of this card is one that many rich people like, because it just looks, well, rich. If you can qualify for this card, you're obviously quite wealthy.

1. American Express Centurion Card

Here is another black credit card that says just how wealthy you are if it's in your hand. This card is an invitation into the super rich club and is available by invitation only. You must be invited into the Centurion club and you will have to pay a $2,500 annual fee in order to be a part of the club. That may seem very high to the average person, but here's even more, you will also have to pay $5,000 off the top just to get the card. It is $250,00 to get an invitation, $5,000 for the making of your card, and a one year membership fee will set you back $2,500. The total is already about $257,000 you'll need to spend if you want to get this extremely exclusive credit card, making it the most exclusive credit card for the rich that is available.


Andrew Gosselin CPA

Written by Andrew Gosselin CPA

Andrew Gosselin, CPA is a former senior strategy consultant for a global, multi-billion-dollar software company. He is the Senior Contributor / Editor at MoneyInc, and he holds degrees in accounting, finance, and international business from Bentley University, where he played varsity basketball and was the Lead Tutor of the accounting and finance curriculum for the Bentley Athletic Department. Andrew was named a President's Academic Scholar and was inducted into the Falcon Society, a distinction awarded by the Bentley faculty and his peers for being among those with the highest achievement and abilities in his graduating class.

Read more posts by Andrew Gosselin CPA

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