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The American Express Card 99% of People CAN鈥橳 Get Approved For - YouTube
Channel: Money Growth Project
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what's up money growers hey jacob back
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here with another video happy to have
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you guys back i hope everybody who's
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watching this right now has more money
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today than you did yesterday that's part
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of what we're here to talk about today
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is money and credit and options that you
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have for your financial future that hey
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we weren't taught about in school we
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weren't taught about in home so we got
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to learn about it now in adulthood so
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guys welcome to the channel thanks you
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to everybody thanks you thank you and
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thanks to everybody who has subscribed
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to this channel this channel has been
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growing like crazy i've been pushing uh
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doing two videos a day for a while now
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i'm enjoying the push i'm enjoying the
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grind i'm enjoying the growth and i want
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to say thank you everybody who's here
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early and on the ground level um on this
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channel i'm liking this i'm enjoying
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this and i'm appreciative to have you
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here with me i also appreciate you guys
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sharing down in the comment section
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below and helping a lot of the new
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people because the world of credit can
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be quite confusing and we're going to be
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talking about something today
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and the word of credit that hey we could
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all aspire to get to so this is going to
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be a
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card we're talking about that like
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almost no one gets this card
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almost nobody and it's not even
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advertised on their website i'm going to
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show you guys that it's not advertised
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here and it's a really tough one to get
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because it's so exclusive because it's
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so highly regarded hey you know what
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maybe one of us will get there one day
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but i'm gonna talk about it and show you
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guys how here um you will not see this
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credit card with american express listed
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there are 18 cards they have right here
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you will not find this card on here
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definitely not okay and this is actually
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a charge card so i remember speaking to
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a rep and i was asking about their
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personal uh charge cards and credit
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cards that's how many personal charge
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cards are there just to be clear he goes
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three because we're actually four and
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we're going to talk about the fourth one
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so you're also not going to see this
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charge card even here if you like the um
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uh
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consumer and small business card
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agreements you look at the credit card
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agreements this actually lists 25
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cards here so this actually does list
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credit cards on here that actually don't
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even list here on the personal side but
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you still will not see this card i'm
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talking about today on this list you're
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still not going to see it here like
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that's the thing is they don't even
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advertise it because it's invitation
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only now the car that we are talking
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about today
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is the uh centurion card
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this centurion charge card excuse me so
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there's a business version of this and
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there's a personal uh version of this as
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well so most of the stuff you're gonna
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see is around the personal side but a
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lot of it you know correlates to the
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business side just as much um here's one
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thing that you do want to keep in mind
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that people ask like how much do you
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have to spend to get you know the black
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card right to get this uh centurion card
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and no one really knows exactly that's
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what this article says right here nobody
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knows exactly how much you have to
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because i mean hardly anyone has it
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right it's probably the exclusive side
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of it but it's estimated that uh to get
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the invitation you have to speak um
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spend between 250 000 and 500 thousand
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dollars a year so a quarter of a million
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dollars to half a million dollars
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annually is the estimation and business
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spenders so if you got it on the
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business side um
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you need to spend you know over five
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hundred thousand dollars per year which
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depends
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i saw another article i don't think i
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have it today but somewhere else it said
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it's probably easier to get on the
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business side that's probably true
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because um depending on the business you
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have depending on you know some
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businesses do
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require spending more money and have a
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lot of a lot more overhead than other
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businesses so depending on the type of
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business you have
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it probably is going to be easier to get
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this on the business side for spending
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versus on the personal side so there's
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something to keep in mind so if i if i'm
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going to get this card in my life it's
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probably gonna be on the business side
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that's where it's gonna be not on the
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personal side but as we look a little
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bit deeper into this card some of the
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things that the um share online now said
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this is not on
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um
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american express's own website so you
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can't even go like americanexpress.com
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and find this you're pretty much left to
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going to places like forbes or we'll
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check over here to an upgraded points
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and this kind of thing to find research
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on it because american express doesn't
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publish a whole lot about it so again it
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goes with the exclusivity part so this
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is a review uh here by forbes for 2022.
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and i love the way this starts off the
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way this article starts off it says if
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you're reading a review of the centurion
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card from american express it's probably
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not for you it's like
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thanks i kind of crushed your hopes
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right off the bat there
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so first of all you can't apply for the
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card you need to secure an invitation
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the unique characteristics of the
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centurion card both in cost and rewards
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do not invite comparison fair enough uh
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however if you're part of the select
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group that can get this card the cost
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benefit analysis might just work in your
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favor so it does show
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kind of like a quick rundown here pros
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and cons it's actually four four stars
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overall which i mean for the exclusivity
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of this card for how highly regarded it
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is and the benefits they offer i would
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actually expect it to be
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like
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a five out of five for stars or damn
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close to it so if no welcome bonus on
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this card 5 000 annual fee 5 000 on the
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annual fee uh apr 25.24 so that's pretty
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normal and then the excellent credit
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score yeah that makes that makes sense
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as well so the pros i guess has most
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exclusive card in the world uh you have
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elite personalized concierge concierge
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service unrivaled perks and benefits
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centurion international arrival services
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the cons yes invitation only
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ten thousand dollar initiation fee in
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addition to five thousand dollar annual
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fee per card holder and no bonus rewards
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category so it doesn't doesn't start off
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on the best foot very well it does give
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some highlights here um we'll check
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these another article i think it lays
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these out better particularly as far as
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some of the travel stuff goes but
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it does give a pretty decent
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introduction of the car and a pretty
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good overview and this is the washington
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post i guess this was their slogan for
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the cards if you don't get it you don't
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get it it's like damn
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it's like yeah thank you keep reminding
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me how hard this card is to get keep in
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mind that you probably won't ever be
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able to get this card because all the
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reminders you're getting so it talks
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about the initiation fee the annual fee
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and all that kind of stuff um
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and then it says you have 24 7 concierge
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service i guess the concierge service is
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like bend over backwards service for you
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which oh here we go that's the exact
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term they used bend over backwards
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customer service elite travel statuses
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memberships and credits to luxury
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outlets and lucrative points redemptions
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options can easily offset the costs so
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you know if you actually use these um if
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you actually use these though now it is
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supposed to be invitation only uh
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however you can request consideration
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online so minimum spending uh like was
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shown earlier estimates vary from 250
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thousand dollars per year up into the
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millions
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now so something to keep in mind they
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offer the personal card and the business
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cards is if you are given a choice
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the business card offers more valuable
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benefits most notably the airfare rebate
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well that's good to know because like i
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said if i get this ever it will be on
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the business side because the business
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stuff you can actually deduct right so
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i've read an article from the points guy
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i guess it was the original points guy
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uh from like five years ago wrote an
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article talking about how he could
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deduct um his some of the cost of the
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car like the annual fee and that kind of
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thing because
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he got it for you know his business is
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obviously running a
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credit card and travel blog so he's able
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to deduct it from his business so that
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five thousand dollars he spent on the
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fee he was able to deduct from his taxes
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so the business side gives out more
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flexibility when it comes to deductions
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than on you know the personal side
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so it does go over um you know you can
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request consideration it talks about the
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fees you earn one mr point per dollar
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spent on all purchase under five
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thousand dollars one and a half mr
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points per dollar spent on purchase over
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five thousand up to a million extra
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points per year and then 50 bonus on
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membership rewards redemptions for paid
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airfare business version only so that's
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part of the reason why they're probably
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saying um
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the business card offers more value than
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the personal card and then we get into
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the rewards and then redeeming some of
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the awards and stuff like that that you
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have here um
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says the 50 rebate on airfares is a big
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one then
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two cent per dollar return rate
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basically with with the um
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airfares purchase of the mr points also
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talks about the flexibility you have
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with the points they can be transferred
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to any of the 17 travel partners most of
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the one-to-one ratio that kind of thing
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some of the other rewards that come with
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it so there's a nice list here but like
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i said we'll get a little bit down
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deeper into this when we compare over
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here this one lays it out pretty well
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some of the other benefits uh you get
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with this card so we start up here
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about the amex interior on black card
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this is oftentimes used by big
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celebrities and business owners right so
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if you're a business owner if you're not
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a celebrity business owners your best
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way gonna be to get this card so hey
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maybe up to the youtube channel so it
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does talk about some of the services
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like the concierge and how awesome that
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is supposed to be air airline elite
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status hotel elite status so you have
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marriott bon voy hilton honors and ihg
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rewards and then it talks about the
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hotel program the fine hotels and
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resorts here so this is where it breaks
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down the different properties i just
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thought this was a lot easier to read
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and digest than
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this huge uh just list of text and
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paragraphs over here so
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it talks about eligible properties room
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upgrades breakfast benefits late
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checkouts uh early check-in i know these
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you can get these two just with the
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platinum card daily breakfast for two
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and the guaranteed four p.m late check
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out i think you get early checking with
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the platinum card but i'm not positive
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but these two now you do i mean the
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in-room wi-fi that's
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complimentary um
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property many hundred dollars in value
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this comes with the platinum card as
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well
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the additional property amenity as well
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so you have your car rental benefits
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with it um some of the discounts you get
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on standard cars right you get upgrades
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as well with this kind of thing
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and then this says
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uh let's talk about invitation only just
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for avis presence club so cruise credits
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you get so eligible cruise partners
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there's a whole list of one two three
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four five six seven 14 of them right
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here so you get 100 to 500 in credits
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for this as well
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and then you get travel and lifestyle
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perks so this is where you get 50 off
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your points back through the pay with
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points benefits up to 200 in airline
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credit access the amex global lounge
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collection centurion lounges priority
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pass lounges delta sky clubs uh yeah you
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better get access to you're paying a
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five thousand dollar annual fee right
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global entry tsa pre-check uh
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application fee credits a lot of this
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stuff actually is something that comes
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already with the platinum card i mean a
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certain amount of this really is just um
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really is just uh
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the exclusivity of it i guess you could
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say bragging rights uh just to be able
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to have this card and this one
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membership to the psl uh pslax so i
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think yeah this was the private lounge
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the private studio they have at la at
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los angeles airport so this is supposed
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to be one where oftentimes celebrities
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will go to this place
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when they're flying in out of lax so you
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can actually get some privacy you know
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not have to worry about getting photos
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or videos taken over again swamped by
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people so you do get access um to that
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lounge as well if you ever fly in and
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out of lax but i think he said it's just
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discounted on because i think it's like
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thousands of dollars um i think it's
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like 2700 for a group of like four
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people to use that lounge or something
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like that
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then a long list of other benefits well
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like 250 and credit for saks with avenue
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like that
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dining program wine program shopping
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program all these kinds of things some
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bonus categories you get here as well
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with this card so i mean for a lot of
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people you know this is probably not
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going to be worth it for them a lot of
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people probably say yeah might be cool
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to have but you know you gotta they
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might like i said yeah if i got a whole
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bunch of money to blow all right maybe i
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can do this and get this card but for
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most people something to have year after
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year probably not going to be a big
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thing i think a lot of it's just the
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exclusivity factor and again if you've
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got a business depending on the business
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you're in um you know you could be it
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could be a lot easier for you to get
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this card on the business side than it
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is on the personal side so these are the
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three big fees you face when you have
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this card the ten thousand dollar
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initiation fee five thousand dollar
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annual fee and then a five thousand
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dollar fee for each additional card
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holder maximum of two additional card
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holders so you can put what two more so
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ten thousand people
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five 5015
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plus 1025 so
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25 000
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for that initial fee annual fee if you
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want to give you know put two more
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people you have two more card holders 25
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grand
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that's more than some people in this
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country make in a year so this is pretty
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damn exclusive now you can see why only
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about one percent or less i'll say less
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than one percent of people actually able
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to get this card so hey one day maybe
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maybe you'll have it maybe i'll have it
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one day but this is the car that the
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vast majority of people are not going to
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be able to get their hands on but
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might be a goal to aspire to so guys
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thank you for watching this video thank
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you for checking this out i appreciate
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all that i appreciate you guys being
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here
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that's going for this one and until next
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time keep growing your money
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