HXL Black Credit Cards for the ultra-wealthy

The Black credit cards is the card for today’s ultra-high net worth individual. It is the top echelon of credit cards available with card holders receiving premium levels of service. Black credit cards are reserved for a select few and made available on an invitation-only basis from either a bank or credit card merchant. HXL Partners can assist in the process of obtaining a black credit card.

Platinum, stainless steel or even a card made from 24 karat gold-plating is now not enough to showcase your wealth and luxury lifestyle. Banks and credit card companies are targeting wealthy individuals in Asia, Middle East and Eastern Europe with services such as 24-hour personalised customer service, concierge services to book holidays, concert tickets and frequent flyer privileges to name a few. Some banks offer unlimited spending, dedicated relationship manager and exclusive programs.

You won’t know if you qualify for a black card until you are invited by a bank or a credit card merchant. Normally, you would need to be an existing client of the bank for a number of years with high credit card usage, excellent repayment history, high income and other qualities that shows you are worthy of this special piece of card.

Having a Black credit card comes with its own very high annual fees. As an example, the AMEX Centurion requires a $7500 registration fee and thereafter a $2500 annual fee. Even though these are very high costs, demand for black cards are still very high.

Skirting foreign exchange control

Another advantage of the Black credit is to use it as a tool to move capital out of your home country that imposes limits. An example is to circumvent the current $50,000 capital outflow limit imposed by the Chinese government buy making large purchases and not violating local laws.

Contact HXL Partners to discuss about Black credit cards.