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Our VerdictThis is a card for the 1%—or, more likely, the 0.001%. While the Centurion ® Card from American Express makes prospective holders work for it with high qualification and spending requirements, it rewards the select few who actually get the card with tons of perks. These include everything from access to many airport lounges to a personal concierge you can summon with a phone call. There is also a business version of this card, which is the better of the two.
The whole process of applying for this card is mysterious and feels very much like a secret society. First, this card is invite-only, and while you can apply for consideration there’s no guarantee you’ll be approved. It’s said that, while there are millions of American Express credit card holders, only 100,000 have this card.
If you have the money for it and want to feel like a baller when you whip out a card made out of actual titanium, this card is for you. It also offers a lot of perks, especially for the frequent traveler, and ways to collect points that can make its very high initiation and annual fees worth it for high spenders. When it comes to the rate at which it earns points, though, this card is not the best out there. But it is probably unmatched in terms of clout, status signaling and personal service.
Our ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.
Annual Fee $5,000 (plus an initiation fee, estimated to be between $7,000 and $10,000 USD) Credit Score description Good/Excellent (800 and up) Regular APRFeatured Partner Offers
American Express Cobalt® Card
American Express’s Secure Website
Up to 15,000 Membership Rewards points
$155.88 ($12.99 per month)
Credit Score:: 700 to 900 – Good to ExcellentA credit score isn’t a static number and there are several factors that go into calculating it. The credit bureaus use their own proprietary algorithms and calculate their own credit scores. Equifax uses the Equifax Risk Score, while TransUnion uses the CreditVision Scoring Model. They are provided as guidelines to the issuer, which may take different factors into account, and approval is not guaranteed.
You may have heard of the American Express Black card, but you probably haven’t heard of its official name, the Centurion Card® from American Express. As the fanciest of the fancy Amex cards, it provides so many perks. Holders of this card get unlimited spending, free companion tickets with a full business or first class international fare on select airlines and lounge access.
This is also a charge card, meaning it is for people who have the money to pay their purchases off every billing cycle; you cannot carry a balance. Holders have bought art and luxury cars with it, and rumor has it someone even bought a plane with it. It beats carrying millions of dollars in a suitcase or having to call your personal banker to wire the funds.
The criteria to get one of these are extremely high: think high credit score, high earnings and high spending—really, really high, in fact. Minimum spending estimates are said to vary from $250,000 to $500,000 USD per year. Plus, you must have spent $100,000 to $450,000 USD a year on another American Express card before even being considered for this one. Those are estimates from data points collected online, though, because American Express isn’t telling.
Then there are the fees, and those are steep. Your average credit card doesn’t have an initiation fee but this one, like many black-level credit cards, does, and it can range from $7,000 to $10,000. Plus there is the annual membership fee of $2,500 (all fees in USD).
For those who can afford to carry this card, it’s worth it for the prestige and perks, because the earn rate on Membership Rewards is not great.
If you’re going to get this card, you might as well use it as your primary card, as you probably had to jump through hoops to get it. (We also recommend having a Visa or Mastercard as well for places that don’t accept American Express cards.)
That being said, the rewards earning rate on purchases isn’t great. There are no bonus purchase categories that earn more points, but Membership Rewards are not the best reason to have this card and aren’t worth paying the high annual fee if you are a points collector.
We think it is really for those who want the prestige of having this card and the extra perks and benefits that come along with that.
You get one point for every dollar spent. There are other cards that offer the same points per dollar ratio; earnings are not a standout feature of this card, and definitely not the main reason to have it.
Plus, it’s important to keep in mind that American Express cards are not accepted everywhere.
American Express points are very flexible. They can be used to book travel directly on the American Express Travel site, or transferred to Amex travel partners including Delta Air Lines, Marriott Bonvoy and other major international airlines and hotel chains.
Plus, Amex periodically offers transfer bonuses, which strengthens the value of your points so you get more for the same amount.
The Centurion Card® from American Express gives a 50% rebate on airfares purchased with its Membership Rewards points. The math works out to a return rate of two cents per dollar, which is better than any other Amex card. If you have the business version of the card, points earned on transactions over $5,000 are worth an effective 3% back when redeemed with the rebate. The personal card doesn’t have this offer.
Points can also be redeemed for travel, retail and restaurant gift cards. You can even use them when you shop on Amazon. The rates and values vary based on the retailer but from what we found, they range from 0.5 to one cent per Membership Reward point. Looking at the points value, we think it’s better to use points for travel.
As we mentioned, there’s no spending limit on this card, and you get one point for every dollar you spent. So if you spent $500,000 on the card, you get 500,000 points. That’s enough to fly roundtrip from North America to Europe or Asia in first or business class several times.
This card is for a very small, very exclusive group of people, so there aren’t that many cards out there for comparison. However, there are some, like the HSBC Metal World Elite Mastercard, J.P. Morgan Reserve Card, Coutts Silk Card and the Mastercard Black Card.
All of these cards have lower annual fees, fewer spending criteria to be eligible and better rewards. However, American Express’ ecosystem of travel, concierge service and exclusive events are a very attractive reason to get the Centurion® Card from American Express.
The HSBC World Elite Mastercard offers a lot of travel perks but not as many as the Centurion. Like Centurion, the HSBC Metal World Elite Mastercard has no welcome bonus, but, unlike Centurion, offers better rewards than 1 point per dollar in all spending categories.
Reward rates with this card include 6 points per dollar on eligible travel purchases, 4 points per dollar on all eligible drugstore, gas and grocery purchases and 2 points per $1 on all other eligible purchases. Points can be redeemed for the following:
It has a $499 annual fee and a full annual fee rebate if you are an HSBC Private Client, so you are already saving money there compared to Centurion Card; you also get a $200 travel credit each year. You also get extensive travel and medical insurance coverage, and it is unconfirmed whether you do with the Centurion Card.
Overall, it’s not a bad travel card if you’re a frequent traveler and is much cheaper than the Centurion Card. However, it doesn’t have the sheer number of benefits and perks that you’re entitled to with Centurion—if you are invited.
You get some of the same benefits from The Platinum Card . Think of it as the step towards the Centurion Black Card, if that’s your goal.
The personal version of The Platinum Card has a significantly lower annual fee of $799 CAD. Like The Centurion Black Card, it has no pre-set spending limit and there is only a $250 annual fee for each additional Platinum Card, a $0 annual fee for the first two additional Gold Cards, and a $50 annual fee for any additional Gold Cards. Obviously, these fees are significantly lower than the Centurion Black Card.
As for rewards, The Platinum Card from American Express offers 2 points on dining, food delivery and travel, and one point for every dollar spent on other categories.
The business version gives you 80,000 Membership Rewards® points as a bonus after you charge $15,000 in net purchases to your card in your first 3 months of Card membership. You’ll also earn an additional 40,000 points when you make a purchase between 14 to 17 months after opening your account. You also get 1.25 points for every dollar spent on anything.
You also get access to 1,300 airport lounges (100 fewer lounges than the Centurion card) across 140 countries and counting with the American Express Global Lounge Collection.
With an annual fee of $799 and access to nearly all the same travel perks, The Business Platinum Card from American Express is a better option than the Centurion Black for business owners.
When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, rewards rates and categories, fees, welcome bonus, and other benefits and features. Keep in mind what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.
Are you ridiculously wealthy? Do you make a minimum of $1 million a year before taxes? Do you love to travel? Do you love to collect tons of points that you can use for pretty much anything? What about personal service? Can you even be potentially invited to get this card? Do you want people to know you’re important? Then yes, this is the card for you.
Do keep in mind that, while you can apply, the criteria for admission are extremely stringent and not publicly available.
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