Banks adopt a special attitude to their HNWI customers: these may generate little profit, but the reputational advantages they create are usually high. This explains why financial institutions offer personalized terms of cooperation to such clients – however, the bonuses offered to HNWIs may also be of interest to other customers. In this post, we will discuss the possibility of individuals who set up an account with a Swiss bank obtaining a Centurion American Express card (also known as a Black card). This is a truly unique offer as such cards cannot be accessed by just anyone. If you want to get more details on obtaining an AmEx Black card, please follow the link to read the full text.
If you decide to obtain the Black card on your own, you will discover that American Express has to send you a special invitation for that. The company has a list of requirements for its potential customers, but you will not access it anywhere. Rejections happen quite often as the compliance criteria you have to meet include not just your capital but also an estimation of how attractive you are to the company.
Why so much hassle about a card? Well, the Centurion AmEx card provides considerable benefits that wealthy individuals appreciate. However, invitations are rarely sent to the customers of financial institutions, so they usually opt for a Standard AmEx, Blue, Gold, or Platinum card. You should know that these are substantially inferior to the Black card, though.
Is there any guaranteed path to receiving the Centurion card? It does not officially exist as American Express does not indicate any alternative channels. However, you can use the opportunity provided by some Swiss banks (it is absolutely legal!).
Here are the main benefits:
● You are not required to have an outstanding credit history
● There is no need to wait for a special letter of invitation
● The Centurion AmEx card will be provided to you in a matter of several weeks
● No proof of minimum income has to be provided (in a usual situation, you will have to evidence that you get 1 million Swiss francs, US dollars, or euros a year)
● You will not be required to submit a history of income/expenses for 1 year
The procedure of receiving an elite Black card by setting up an account with a Swiss bank is not complicated at all. You will have to pass the mandatory customer verification procedure, but you can get ready for it in advance.
Potential Black Card Owners
Non-HNWIs are prone to thinking that the Black card does not give any significant advantages, and it may be true if we take everyday life into account. But if we recollect that the Centurion card was designed to cater to the interests of premium customers, we will see the benefits that the card can give.
A Black card will come in useful if you decide to buy an expensive car or yacht, participate in an auction, apply for economic citizenship, or replenish your personal collection of paintings. There is one common feature in all these situations: it is impossible to make such a transaction using cash, and you will be required to write off a considerable amount of your card.
If you decide to use the bank transfer for this transaction, you may also encounter problems. Using an ordinary card will not solve the problem as the transfer or payment limits cannot be exceeded. As a result, you will not be able to make a quick payment if the amount is large enough.
The same issues may arise on the part of the seller. Sotheby’s has a certain limit on bank card payments (USD 1.6 million), but many of the lots sold cost more than that. With a Black card in your pocket, you have a legal way to exceed the limit set (however, you will have to register your card and pass verification). An ordinary card comes with a lot of difficulties that may be hard to overcome.
Bank Support
If a financial institution is an issuer of elite credit cards, chances are high that it will not cooperate with all customers who apply. If we are talking about HNWIs, the approach is different, and they benefit from various privileges inaccessible to other customers (and often even unnecessary) at no charge.
Benefits for Clients
The holders of AmEx Centurion cards are the people who do not need to prove their status to partners, friends, or customers. They show little interest in standard loyalty programs that large banks or financial institutions may offer. American Express has designed a broad incentive program for Black card holders.
Let’s look at what the latter can receive:
● Round-the-clock concierge service
● Membership in Equinox gym
● Membership in Avis club/Hertz Platinum status (the highest client status in car rental companies)
● An elite status in Delta SkyMiles Platinum Medallion program (access to the Global Lounge Collection, best conditions in the waiting hall, best service class on the plane, priority registration, etc.)
● A special status in the best hotels (Marriott Bonvoy Gold, Hilton Honors Diamond, and HG Platinum Elite)
● One Membership Rewards point per each USD spent
American Express employees say in private that the company can meet the customer’s wildest requirements unless they breach the law. Once a customer asked American Express to obtain invitations to the inauguration ceremony of the US President, and they got what he wanted! Another one wanted to have dinner with an influential person, and it was arranged as well. As you see, special people need special treatment, and American Express is the company that is prepared to accept such challenges.
Conclusion
The Centurion (Black) card is definitely a bank product worth paying attention to. As it is hard to get, the only way out is to open an account with a Swiss bank that guarantees an invitation from American Express. The basic requirements are by no means onerous: you have to be at least 18 years of age and have no history of convictions. Also, your nationality matters as Swiss banks are not willing to work with representatives of sanctioned countries, for instance. If you want to read more details about opening a bank account in Switzerland, please follow the above link.