Question

An individual has Centurion Card from American Express (credit cards). The credit card is most valuable credit card in the world. Can this individual claim that he/she is a wealthy individual?

Answer 1

An individual has centurian Card from American Express. Centurian card is a credit card offered by American Express. Acredit card is such a card by which the customer can pay certain amount at credit from bam bank and can pay to bank later with interest. This means that the customer can pay a certain amount for any purpose even if they don't have that much amount in their bank account. The ceilling of the amount of payment that can be made through credit is decided by the owner bank and it varies from bank to bank and individual credit cards.

Now owing to the information that a person can pay through credit card even if they don't have the amount in the bank account, one may argue that having a costly credit card doesn't always mean that the person is wealthy enough for purchasing expensive goods. This arguement is true to some extent. But we need to understand that most of the banks provide expensive credit cards only to the wealthy customers who they believe can pay the ceilling amount to the bank with interest once they borrow it. Moreover for most of the expensive credit cards the customers are required to pay a good amount for initiation fee and they also need to pay a handsome amount every year as annual fee of the credit card. But in many cases banks send credit cards to the customers for profit motive and many of the customers don't accept those by not paying the initiation fee and annual fee. Moreover in some cases people hold credit card but don't use them.

But Centurian credit card from American Express bank is not only an expensive credit card but it is an exclusive credit card. It is not given to anybody for profit motive. American Express bank provides t he centurian credit card only to limited elite customers. And this card is provided by invitation. This means that anybody cannot apply for Centurian card. In order to have one, they need to secure an invitation. Beside this the initiation fee of Centurian card is $10000 and annual fee of the same is as huge as $5000. Hence in order to possess a centurian card one need to pay a huge amount of money initially as well as annually. It has a huge initiation fee and the annual fee is worth a luxury car lease. American Express bank provides the card only to the reputed and distingished customers of the bank. Hence it is not everyone's cup of tea.

Hence taking into account the above discussion we can mention that the person who holds an American Express bank Centurian Card, is not only a wealthy person, but a distinguished individual as well.