What is the highest credit limit a financial institution can offer? And under what circumstances?

Is it possible for a bank to offer a million dollars in a credit card?

What is the highest credit limit a financial institution can offer? And under what circumstances?

The Centurion Card, popularly known as the Black Card, is American Express%26#039;s most exclusive charge card. Rumors of a special, black-colored card offering dignitaries and celebrities unlimited spending power and after-hours access to high-end stores circulated in the 1980s. While the rumors were false, American Express decided to perpetuate them by launching the Centurion Card in October 1999 to selected holders of Platinum Cards, with an annual fee of $1,000.

The card is readily available by invitation only and, as of January 1, 2006, requires minimum annual spending of $250,000 on another American Express card and exceptional credit history among other requirements. Certain requirements have been known to be waived for major celebrities and business figures. As of 2006 the annual cardholder fee was $2,500 and it is estimated that there are fewer than 10,000 cards issued worldwide. The card offers numerous exclusive privileges, including complimentary companion airline tickets on trans-Atlantic flights, personal shoppers at retailers such as Escada, Gucci and Saks Fifth Avenue, access to airport clubs, first class flight upgrades, membership in Sony%26#039;s Cierge personal shopping program, and dozens of other elite club memberships. Centurion membership also includes personal services including a personal concierge and travel agent. The program offers many hotel benefits, including a free one-night%26#039;s stay in every Mandarin Oriental hotel worldwide once a year.

The benefits mentioned above are for United States-issued cards. American Express Centurion cards issued in other countries may include different and sometimes lesser benefits reflecting their specific markets. Cardholders have claimed to use the card for things that most would find difficult to believe.

The card is available both as a personal and a business card. A new Centurion card crafted from pure titanium is being issued as a replacement for all U.S. Centurion plastic cards in the first half of 2006. Centurion members in other countries have previously received this titanium card.

American Express has removed certain benefits from the card in the years since it was introduced. For example, Hyatt Diamond Elite status was included up until January 2005, and Starwood Preferred Guest Platinum status was included up until January 2006.

Black Card Popularity

The Centurion card was the first %26quot;Black Card%26quot;, but others are attempting to enter this lucrative high-end market. NatWest bank also launched a %26quot;Black Card%26quot; in 2002 and MasterCard%26#039;s Signia, which is issued in the United Kingdom only by Coutts %26amp; Co bank, provides similar benefits to its wealthy clientele. In Singapore, Hong Kong, and India, Citibank has launched a premium Black Card called the Ultima that nearly rivals the Centurion Card in terms of features and benefits. It is available only by invitation and offers benefits such as access to private islands at preferential rates and space holidays. It is commonly accepted that the American Express Centurion Card is the ultimate symbol of wealth when compared to other entrants in this market.

What is the highest credit limit a financial institution can offer? And under what circumstances?

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Yes, if you have even seen an American Express Black card, they are unlimited, which does not mean that you could swipe it and buy the Empire State building, but purchases over a certain amount are scanned and permited on a one by one basis.|||The black card is real. I saw a guy buy a boat ( 400,000) at an auction with it. He called them to get the amount approved, which took all of about 3 minutes.

I was amazed.