What makes a credit card exclusive?
Like the clients who carry them, exclusive credit cards share notable similarities. The following factors can elevate a card’s status and barrier to entry.
High cost. Some cards are issued at no cost to high net worth members. More commonly, exclusive cards come with high annual fees of $1,000 or more, and some require additional initiation fees. At the extreme, a card might cost an outrageous $100,000.
Available only to a select few. Card providers make it more difficult to get exclusive cards by making their products invite only, requiring the backing of existing members or imposing minimum investment quotas. To join the club, you must have the ability to pull strings — or flash enough money to barrel your way in.
Made of rare materials. An exclusive credit card should feel exclusive. That’s why it’s not made of mere plastic, instead boasting such precious metals as gold, titanium or palladium. It might even come with inlaid diamonds for good measure.
Dedicated concierge service. You’ll notice many of the cards on this list offer commonplace features. For example, you can get airport lounge access and travel credits with widely available credit cards. What sets exclusive cards apart is personalized help. Concierge service is standard in premium travel cards, but dedicated concierge services — like account managers expressly assigned to you — are reserved for ultrapremium cards.
Unadvertised, exclusive perks. One of the reasons we don’t know much about superelite cards is because their issuers like it that way. If a premium card gets you access to a top-notch airport lounge, an ultrapremium card gets you a dedicated space inside that lounge. The less the public knows about these privileges, the more special they tend to be.
Sky-high credit limits. Exclusive credit cards often come with extremely generous credit limits. Of course, your provider may cut you off if your spending appears to exceed what your net worth allows. But if your coffers sound truly endless, the bank may allow literally any purchase your heart desires.