American Express card colors
Independent tips for the professional at Leisure
When the first "gold cards" came out, it heralded a new era
of "prestige" credit, sort of a color-coding for your wealth.
But today the gold card is pass�, and we see credit card
companies like Amex coming out with new prestige colors like Black, Plum and
platinum. I just saw a TV commercial that said that a Amex platinum card
will get you into the airlines club rooms at airports, a respite from the scum
that inhabit airports these days.
As I recall, the mass-market original cards of the 1960's
were Bank Americard and Master Charge (not counting the 1950's Diners Club
card). Back then, credit cards appears unsolicited in the mail, ready to
use. But not everybody got one, and any credit card was prestigious.
Back in 1970, only 16 percent of households held a credit card.
As more boomer became qualified for a credit card,
ownership wasn't so special anymore, and the 1960's brought us the Amex "gold
card", reserved for those with a 6-figure income (That would be over $300k in
By the year 200, two-thirds of American's had a credit card
of some kind.
But American Express cards were always special. With
no limit, you could spend whatever you wanted, and because you were required to
[pay the next month, there was no temptation to go into debt.
Back in the olden days, the Amex black card was reserved
for zillionaires and you could spend millions of dollars with ease. Today,
Amex says that "Plum is the new black", and the plum card, which is reserved for
business owners with multi-million dollar a year revenues, is the hot credit
card color du jour.
Amex black - This is the card to have for the
super-wealthy, offered by invitation only. The black (Centurion card)
has a $5,000 initiation fee and $2,500 in annual fees, but you can spend
millions, no limit.
Amex blue card - No fee, cash back - You need to
spend $6,500.01 or more to get the 5% back on everyday purchases such as gas
and groceries. All other purchases would be at the 1.5% level. If you have
not spent over that amount then you would get 1.0% on everyday purchases
from $0-$6,500 and 0.5% on everything else. Another benefit for
businesses is that the Amex blue card has a spending limit, so you employees
cannot go crazy on business trips.
Amex Platinum card - Has a $395 yearly fee and
no spending limit, and has airline lounge access (but only for Northwest,
Delta, and Continental), free companion tickets, consumer protection, and
some hotel upgrade benefits.
Amex plumb card - This card is for business
owners with multi-million dollar a year revenues. Some say that the
Plum card is slightly a step above the Green Business card from American
Express, but not as prestigious as the Amex Gold card, which relies
exclusively on income, not earnings.
Amex business gold card - These bonus points
include: 5,000 welcoming points received when the first purchase is made;
5,000 points when you�ve made $20,000 in purchases using your card; 20,000
points for spending $50,000; and 10,000 points when you renew your card
after one year.