Millionaire Credit Cards: What's In Their Wallets?

As issuers continue to target their origination efforts on affluent consumers, and the low-risk ones at that, attention is being focused on the most highly differentiated products available in the market. In some cases, the annual fee itself can be a source of prestige.

A small group of elite credit cards are gaining in popularity among affluent consumers. Rather than appeal to a broad customer base, the cards target a small segment of customers who routinely spend more than $100,000 on their cards annually.

These elite cards are marketed as a status symbol, offering prestige as well as exceptional perks and personalized services. Sky-high annual fees and ultra-selective issuance standards ensure that only a small group of high rollers possess the cards.

The American Express Centurion Card continues to set the bar for prestige, in part derived from its mystique of exclusivity, cost, and secrecy. More widely available, but still exclusive, cards offer their own exclusive enhancements, and annual fees typically in the vicinity of $500.

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