For people in certain businesses, perception is more important than reality. A real estate agent who sells high-value properties generally tries to impress his or her clients by looking the part of a high-value property real estate agent. Fancy cars, fancy meals, and fancy clothing are all part of this facade. While the American Centurion “Black” card built up a bit of high-end reputation among celebrities thanks to some clever marketing, the business equivalent is the Business Platinum Card® from American Express OPEN. Don’t rush to jump in, though. Owning this card costs money. Although it’s likely deductible as a business expense, the $450 annual fee only makes sense for a select number of businesses.

Unlike most small business cards, The Business Platinum Card® from American Express OPEN is a charge card, and a feature of charge cards from American Express is the lack of a pre-set spending limit. When it comes time to make a purchase, American Express will determine immediately whether or not to approve the charge. For small purchases, transactions are all but guaranteed to be processed. For larger purchases, American Express takes the business’s credentials into account.

Charge cards don’t have interest rates because monthly bills are due in full by the due date. If your business has a charge card in mind, make sure it has the cash to back up every purchase. If a business gets into trouble with this card, the individual, not just the business, can be responsible for the balance and can suffer the consequences, whether debt collection, negative remarks on the credit report, or worse.

Business owners of The Business Platinum Card® from American Express OPEN will receive a variety of cash back perks as well as a personal concierge. For that sizable fee of $450, business cardholders receive these benefits:

• A $200 airline fee annual reimbursement.
• Savings of 3% to 10% on business expenses with merchants like FedEx, Hyatt Hotels and more
• Airport Club access for you and two companions
• Anytime personal concierge service
• Guaranteed late checkout at hotels and continental breakfasts

Only business owners with excellent credit will be approved for the Business Platinum Card® from American Express OPEN. In some cases, that $450 fee pays for itself in the value of collected rewards and perks. To determining whether this card is right for your business, visit The Business Platinum Card® from American Express OPEN.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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It rarely makes sense to own a credit card that charges an annual fee. I own one credit card that charges an annual fee after the first year — the Continental Airlines OnePluss Card — and I might cancel before they charge my first annual fee. Even if I don’t, I fly Continental often enough so that the services provided, including free checked bags, make the fee worthwhile to me.

This card’s annual fee is modest, particularly when compared to cards that market their services to the super-rich and those who think they ought to be. These “luxury” credit cards offer access to airport lounges, dedicated concierges, and travel assistance. Some services are available to owners of free credit cards, but in some cases, the rewards go beyond what is typical. Some atypical rewards include free hotel stays at prestigious locales and invitations to special private events.

Most of the appeal of these cards is status. The mystique surrounding the “American Express Black Card” existed before the card itself existed, and American Express took advantage of that reputation when it created the Centurion card. If owning a credit card can be prestigious, this is the one to get, but it will cost you.

Citibank Chairman Card

For a $500 annual fee, you could become a member of the Citibank Chairman Card. This card is offered on American Express’s network. Like all luxury cards, the Citibank Chairman Card offers travel and concierge services. In addition to commercial travel benefits, like access to airport lounges, customers have the option of becoming members in programs that allow access to private jets.

Visa Black Card

The Visa Black Card, offered by Barclays Bank, is purported to be available to only 1% of the population of the United States. That’s still about three million people, so membership isn’t quite so exclusive. Nevertheless, the Visa Black Card offers benefits that are more inline with the American Express Platinum Card. If you use concierge and travel services, you may find the $495 annual fee worthwhile.

Platinum Card from American Express

Unlike the above two cards, the Platinum Card from American Express is a charge card, not a credit card. There’s no APR because you’ll owe your bill in full every month. The Platinum Card features a credit of up to $200 every year for airport fees like checked bags, flight changes, and meals on flights. If you’d prefer to fly privately, the card offers chartered flights, membership in a private jet company, and fractional ownership.

When traveling, you can use American Express Platinum Travel Services for exclusive reservations at villas and resorts. The card’s $450 annual fee is easily recovered if you’re a frequent world traveler.

American Express Centurion

The dollar version of the American Express Centurion Card costs $2,500 each year you own it, in addition to a $5,000 initiation fee when you are approved. It’s available by invitation only, so you won’t find any links here to apply for the card. If you charge more than $250,000 a year on an American Express Platinum Card, you may be eligible to enroll.

This card is a favorite among celebrities both real and fictional, who are often pictured in the media spending frivolously using the AmEx Centurion Card.

For most people, these cards will never fulfill the promise that the high fees provide. The cards excel at consolidating the types of benefits world travelers with significant amounts of disposal income might enjoy, like private travel, access to unique events, and vacations in isolated locations. Celebrities whose image is important to their future earning capacity could possibly argue the need for a Centurion Card, but the argument isn’t completely solid. Many celebrities would be better off by not spending frivolously.

Most of us are not celebrities and have to watch our spending closely. We many never take advantage of the services offered by these cards, such as private jets and exclusive hotel reservations.

Also see this comparison of luxury credit cards.

What do you think about these luxury credit cards?

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