The American Express Centurion®, also known as the black card, is only available in select markets, mainly the United States, Japan, Canada, Australia, and in parts of Europe. First introduced in 1999, the Centurion®, which is a title given to ancient Roman army officers, has very strict eligibility criteria.

Similarly to the Visa Black Card™, the Centurion® has an annual fee, reportedly as high as $2,500, and for some applicants, an initiation fee of up to $5,000 is collected too. And like the Visa Black Card™, Centurion® offers exceptional concierge, travel planning services, and airport VIP area access.

The Visa Black Card™ is Quite Possibly the Next Best Thing to Centurion®

The world’s rarest American Express credit card is available by invitation only, and while there is not an official record of what the requirements to qualify for an invitation are, it is believed that those who are invited have a minimum card activity on another American Express card of a quarter of a million dollars annually. In addition, the invitee is believed to have both an incredible credit score and history, plus substantial net worth.

Features of owning a Centurion® credit card include such benefits as complimentary companion airline tickets on international flights with certain airliners, first class upgrades, and even a personal shopper at retailers like Neiman Marcus and Gucci should you be unfortunate enough to lose your luggage.

Not only do cardholders have first class access and service to many air-travel related services, such as Virgin Atlantic Flying Club and US Airways Platinum Preferred status, but when it comes to lodging, they also have a multitude of benefits. Centurion® cardholders are offered extended nights for booking a hotel room with their card at the worldwide Mandarin Oriental hotel, for a week or longer.

For those who don’t believe that they’ll ever be invited to become a black card, Centurion® cardholder, you may want to take a closer look at the Visa Black Card™. This card offers very similar services, perhaps not necessarily on the same level as the Centurion®, but the next best thing for those who want exceptional service from their credit card provider.

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Now that the new credit card rules are in effect, there are a few things that consumers should be made aware of before they run out and apply for a new card. For most, the new rules favor consumers and force the banks to find other ways to raise much needed revenue. However, there are some fancy new rules that could cost cardholders to pay unnecessary fees, so be sure to read those terms carefully.

If seeking a new credit card, be aware of the following:

Foreign Usage Fees – You don’t have to travel to Mexico and buy something with your newly acquired card in order to be charged a foreign usage fee, you could be buying something online that is processed by a foreign merchant service provider.

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Avoid Adjustable Rate Cards – Try to stay away from credit card offers that have an attractive upfront, introductory rate, but charge a much higher rate after a certain amount of time. Under the new laws, card providers must notify you of changes to card terms 45 days prior to doing so.

Compare Rewards Programs – Not all credit cards are created equally, some offer much better rewards programs than others. Be sure to read the terms of your rewards program carefully, and select the one which offers the most reward with the lowest possible rate.

Get Rid of High Interest Cards – Rumor has it that if you get rid of a credit card account, there is a negative effect on your credit report. While this may very well be true, you shouldn’t be too concerned about your credit rating if you aren’t planning on making any new purchases on credit. Those of you of course who do plan on making large purchases on credit in the immediate, or near, future, may want to stick out those high interest rate cards until after your purchase.

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