All information about the American Express Centurion Card has been collected independently by Yahoo Finance. The details on this page have not been reviewed by the card issuer.

The American Express Centurion Card, also known as the Black Card, is the most exclusive credit card on the market. To apply, you need to receive an invitation from the card issuer — and to say the requirements are steep is an understatement.

There are business and personal versions of the Centurion Card, each of which comes with an astounding annual fee and an even more costly initiation fee. And because of the cards’ invite-only status, you’ll need to be willing to spend big just for a chance to own the card.

American Express keeps a tight lid on the card’s details and declined to comment on this story. But based on anecdotes from cardholders and online reports, here’s what we know about this card.

How to get approved for the Amex Centurion Card

American Express offers some of the most premium credit cards on the market, but the Black Card takes the cake. You can only apply for the card if you receive an invitation from the card issuer. Prospective cardholders were previously able to request consideration on the Centurion site, though that option has since been removed.

The card issuer doesn’t disclose the criteria it considers to extend an invitation, but online reports suggest you need to spend anywhere between $200,000 and $1 million a year on American Express credit cards.

You also typically need excellent credit, with some reporting a minimum score of 800.

Amex Centurion Card fees

The Amex Centurion Card offers a lot of value, but its eye-watering fees make it clear that its biggest benefit is prestige.

If you’re invited to apply and you accept, the card issuer charges a $10,000 initiation fee to become a Centurion member. On top of that, the card charges a $5,000 annual fee.

You can add authorized users to your Centurion account, too, but those extra cards come with the same $5,000 annual fee as your initial card.

There’s no preset spending limit and you generally need to pay your balance in full each month. As with other Amex cards, some purchases may be eligible for the Pay Over Time feature, which offers you more time to pay off the purchase with interest.

Read more: How does credit card interest work?

Amex Centurion rewards

Despite the large sums many Centurion cardholders spend, rewards are not this card’s greatest feature. There’s no welcome bonus or intro offer, and everyday purchases will net you just 1 point per dollar.

One way you can earn bonus Membership Rewards points is through large purchases. It’s unclear if bonus rewards extend to personal cardmembers, but Business Centurion cardholders will earn a bonus 1.5x points per dollar (up to spending caps) on eligible purchases of $5,000 or more.

If you’re looking to maximize your spending with Membership Rewards, you’ll get a much better value across categories with the American Express® Gold Card or The Platinum Card® from American Express. Even if you can score a Centurion Card invite, pairing your Black Card with these higher-earning Amex options can be a smart way to make the most of your spending — then pool the points you earn to take advantage of the Centurion’s travel redemptions.

Read more: The best credit cards from American Express

Redeeming rewards

You’ll earn American Express Membership Rewards points with the Centurion Card, which you can redeem the same way you would with any other Amex card.

Booking flights through Amex Travel or transferring points to Amex’s airline and hotel partners are typically the highest-value methods to redeem your Membership Rewards. However, you can also shop with points online, get statement credits, redeem for gift cards, book other travel, and more.

There’s one big redemption perk exclusively for Centurion cardholders: When you use your points to book flights through Amex Travel, you’ll get a 50% bonus. In other words, if you book a flight using 100,000 points, you’ll get 50,000 of those points back — essentially upping your rewards value to an incredible 2 cents per point.

Amex Centurion Card benefits

For such an expensive card, you’d expect best-in-class perks — and that’s exactly what you’ll get. Here’s a rundown of all the benefits you’ll get with a Centurion Card:

Elite status

As a cardholder, you’ll become an automatic elite member with several top travel loyalty programs. That includes:

• Delta SkyMiles Platinum Medallion

• Hilton Honors Diamond

• IHG One Rewards Platinum Elite

• Marriott Bonvoy Gold Elite

• Hertz Platinum

• Avis President’s Club

Airport lounge access

You’ll get access to the Amex Global Lounge Collection, which includes several airport lounge networks:

• The Centurion Lounge

• Priority Pass Select

• Delta Sky Club

• Lufthansa Lounges

• Escape Lounges

• Plaza Premium Lounges

Amex Global Lounge Collection includes over 1,400 airport lounges worldwide across 140 countries.

While some other Amex cardholders (including those with the Platinum Card) also have access to the collection, Centurion members get a few extra perks, including complimentary access — rather than paying a per-visit fee like some other cardholders. Other Centurion perks include priority check-in, complimentary premium drinks, and reserved seating at Centurion Lounges.

More travel and airport benefits

The Centurion Card really shines when it comes to travel benefits, which makes sense for a card tailored to frequent travelers.

At select airports, you can benefit from VIP arrival and departure services, including a personal guide if you’re flying business or first class. The card issuer can also arrange ground transportation for you. That’s just the start of perks you’ll get while flying, though:

• Fee credit for Global Entry or TSA PreCheck: Receive statement credits every 4 years for Global Entry or every 4.5 years for TSA PreCheck fee costs.

• CLEAR Plus credit: Receive up to $369 in statement credits each year for CLEAR Plus membership (subject to auto-renewal) for you and family members or friends added to your account.

• International Airline Program: Get discounts for lower fares on international flights (First Class, Business Class, or Premium Economy tickets) when you book with select airlines through Amex Travel.

• PS Membership and complimentary access: Get membership for PS private airport terminal access, though you’ll still need to pay to use PS Private Suites when you travel. Centurion members also get up to two complimentary visits to The Salon (currently available at LAX and ATL airports) annually.

• Fine Hotels + Resorts: Access Fine Hotels + Resorts properties when you book an eligible stay through Amex Travel and get exclusive benefits as a Centurion member, including credits to use on select charges during your stay and upgrades when available.

Concierge services

Get access to Centurion Membership Services, essentially offering 24/7 access to a personal assistant to help you with a variety of needs, such as planning travel, scoring impossible-to-get reservations and event tickets, and finding unique gifts for your loved ones.

Read more: How to reserve a table at the hottest restaurant with your credit card

Travel protections and insurance

The Centurion Card has plenty of practical benefits, too, helping you rest assured that your travel bookings and card purchases are protected. Like any card, your purchases will only be covered if you use your Amex card for the transaction:

• Premium Global Assist hotline: Use this 24/7 hotline to get help before and during an eligible trip more than 100 miles from home. Potential services include customs and vaccination information, lost passport replacement, translation services, missing luggage assistance, emergency medical referrals and transportation, emergency urgent message relay, legal referrals, and more.

• Trip cancellation and interruption insurance: If your covered trip is canceled or interrupted for a covered reason, get reimbursed for non-refundable eligible expenses (up to $10,000 per covered trip and up to $20,000 per 12-month period).

• Trip delay insurance: If your covered trip is delayed by more than six hours, get reimbursed for eligible related expenses, including meals, lodging, toiletries, etc. (up to $500 per covered trip, up to two claims per 12-month period).

• Car rental loss and damage insurance: Coverage against rental vehicle damage or theft in eligible locations (secondary coverage only).

• Baggage insurance plan: Protection against lost, damaged, or stolen baggage on an eligible common carrier vehicle trip: flight, train, ship, etc. (up to $2,000 for checked baggage and up to a combined $3,000 for carry-on baggage; different limits apply for New York state cardmembers).

• Cell phone protection: Get reimbursed for eligible repair or replacement costs (whichever is less) if your cell phone is damaged or stolen (subject to $50 deductible; coverage up to $800, up to two claims per year).

• Purchase protection: Protection for eligible purchases against theft, damage, or loss within 90 days of the purchase date (up to $10,000 per covered purchase, up to $50,000 per calendar year).

• Return protection: If the merchant won’t accept a return within 90 days of purchase, Amex will refund you the purchase price of eligible items (up to $300 per item, up to $1,000 per calendar year; not including shipping and handling charges).

• Extended warranty: Get up to three additional years’ coverage on eligible items with an original manufacturer’s warranty of five years or less (up to $10,000 per covered item, up to $50,000 per calendar year).

Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

Additional luxury benefits

The Centurion Card comes with a host of other premium perks. One thing to keep in mind is that your location often makes a difference; if you’re not located in a major city, you may have more difficulty taking advantage of some of these benefits:

• Resy Global Dining Access: Get easier access to hard-to-get restaurant reservations and exclusive experiences through Resy when you add your Centurion Card to your account.

• Centurion New York: Luxury space for Centurion members in midtown Manhattan; it includes a restaurant, bar, and lounge area for working or meetings.

• Equinox Destination Access: Get complimentary Destination membership to Equinox gyms; this membership gets you access to clubs across the U.S., Canada, and the U.K., with some exceptions (Hudson Yards, E Clubs, etc.).

• SoulCycle: Get $300 back when you purchase a SoulCycle at-home bike with your Centurion Card (Equinox+ membership required).

• Saks credits: Get up to $250 in statement credits per quarter (with enrollment) toward purchases at Saks Fifth Avenue or at Saks.com, up to $1,000 in total each year.

• Cruise Privileges Program: Benefits on eligible cruise sailings of five nights or more (booked through Amex Travel), including $100 to $300 per statement onboard credits and more.

Exclusive Centurion member perks

In addition to the official benefits and annual credits you can get as a Centurion cardmember, there are plenty of extra perks that can be harder to quantify.

For example, Amex regularly offers Centurion members exclusive experiences, from private performances to luxury travel experiences and exclusive access to sporting, entertainment, or arts events. You might even occasionally receive gifts from Amex just for being a Centurion member — credits when you shop with partners, free nights at select hotel properties, and gifted items from luxury brands.

You probably won’t open a Centurion Card solely for these perks — in fact, they’re often a surprise for recipients — but they do illustrate the above-and-beyond service that Centurion cardholders can expect.

Amex Centurion Card alternatives

The Amex Centurion Card is the holy grail of credit cards, but most people won’t receive an invitation to apply. If you don’t qualify for the Black Card, consider other premium credit cards to get the travel and lifestyle perks you’re looking for.

The Platinum Card charges a steeper annual fee than most credit cards, but it still pales in comparison to the Centurion Card’s costs. This card is also more rewarding for travel spending, with up to 5x points on flights booked with airlines or through Amex Travel (up to $500,000 spent per calendar year) and on prepaid hotels booked through Amex Travel.

You can redeem your rewards for travel and more through American Express Membership Rewards, giving you up to 1 cent per point in value, or transfer them to one of the card issuer’s many airline and hotel loyalty program partners.

While you won’t get quite the same quality of lifestyle and travel benefits, the Platinum Card does come closest to the Centurion in added perks. Some of the card’s benefits include:

• Up to $200 in airline fee credits with one qualifying airline each year

• Up to $200 back in statement credits for select prepaid hotel bookings through Amex Travel

• Up to $240 in digital entertainment credits with select providers each year (up to $20 per month; with enrollment)

• Access to several airport lounges (the same list you get with the Black Card)

• Up to $155 in statement credits toward an auto-renewing Walmart+ membership each year (up to $12.95 per month)

• Up to $100 in statement credits for Saks Fifth Avenue purchases each year (enrollment required)

• Up to $199 annual CLEAR Plus credit (subject to auto-renewal)

• Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status

• Elite status with Avis, Hertz, and National Car Rental

• Application fee credit toward Global Entry or TSA PreCheck

• Access to Platinum Travel Service consultants and Premium Global Assist Hotline

Read our full review of the Amex Platinum Card.

---

The Sapphire Reserve charges a steep annual fee, and while its perks aren’t as impressive as what you’d get with the Platinum Card, it packs a significant punch with its rewards program.

When you’re ready to redeem your rewards, you’ll get 50% more value if you use them to book travel through Chase. Alternatively, you can transfer your rewards to one of the card issuer’s many airline and hotel transfer partners.

The card’s other benefits include:

• $300 annual travel credit each anniversary year

• Complimentary access to Priority Pass airport lounges and Chase Sapphire Lounges by The Club

• VIP access to various events through Reserved by Sapphire

• Special amenities and complimentary upgrades with Avis, Hertz, National Car Rental, and Audi On Demand

• Bonus rewards and other perks with various partners, including Lyft, Peloton, DoorDash, and Instacart

Read our full review of the Chase Sapphire Reserve

---

If you want some premium benefits but want to keep your annual fee to a minimum, consider the Capital One Venture X Rewards Credit Card.

On top of rewards, you’ll get benefits like an annual credit for bookings through Capital One Travel; access to airport lounges through the Capital One Lounges and the Partner Lounge Network; 10,000 bonus miles each year starting on your first cardmember anniversary; and more.

When redeeming your rewards, you can simply book directly through Capital One Travel and use miles to pay or use your card to book travel on your own and request a statement credit. You can also transfer your rewards to 15+ partner airline and hotel loyalty programs.

Read our full review of the Capital One Venture X Rewards Credit Card

Frequently asked questions about the Amex Centurion Card

How much does the Centurion card cost?

On top of the money you’ll have to spend with Amex just to get an invitation to the Centurion Card, there’s a big price tag. You’ll pay a $10,000 initiation fee just to open the card, plus a $5,000 annual fee each year of membership.

Who can apply for the Amex Black Card?

Unlike other credit cards, there’s no open application process for the Amex Centurion Card. You must receive an invitation to apply for the card. Invitations are typically based on your previous spending with Amex.

Is the Centurion Card worth it?

If you’ve spent enough money to get a Centurion Card invitation, you may find the benefits worth the price. Very frequent travelers and wealthy individuals or business owners who value privacy and exclusivity can probably find a lot to love about Centurion Member perks.

For the average consumer, though, Centurion benefits are likely not worth the card’s cost — even if they are covetable. Unless you’re already traveling very often, spending much of your income on travel, and can truly take advantage of the exclusive access and opportunities the Black Card offers, you’ll get more value from other rewards credit cards.

---

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.