#79 - Black Credit Cards
Black Credit Cards
Price: Compulsive Spending
Every month Americans buy a few thousand dollars worth of toys ranging from plasma TVs to designer handbags. These are important to the average person because they symbolize another step towards achieving their five year plan one luxury item at a time. Thanks to the magic of financing and low APRs, these same people pay only a small percentage of what they charged to their credit card, roll over the remainder and promise themselves that they will pay off the balance next month. That might be true if it weren’t for the semi-annual sale at Neiman Marcus or the twenty dollar Crate & Barrel gift card that morphed into a new couch, throw, cushions, coffee table and rug for 40% off, justified by the personal promise to take lunch to work and only drinking one latte a day for the next six months! As a result the average household carries about $8,000 in credit card debt. For the rich, things are a little different. A black, invite-only credit card is a subtle, yet effective, plastic symbol of status and success and like they say, “once you go black you’ll never go back.”
Depending on the card, the wealthy consumer elite are invited to apply for a black, sometimes carbon woven, card that offers numerous benefits that an average Visa, MasterCard or American Express just can’t provide. These include concierge services, personal assistants, financial solutions, airline and hotel upgrades, personal shopping services and while you won’t find it listed in the Benefits Booklet, using a Visa Black Card or American Express Centurion card in any retail establishment means rich people are greeted with “I want to know you” eyes by stunning men and women who would gladly accompany them to the Waldorf for lunch. Ultimately, this is why exclusive, invite-only cards were created. They are the 21st century equivalent of smoking cigars indoors and wearing jewel encrusted pinky rings and tie clips. For rich people, the concurrent introduction of anti-smoking legislation and the ability to flash exclusive credit cards meant not having to accessorize their outfits to showcase their outlandish wealth although ascots remain remarkably popular.
For the average person, there isn’t a hope in hell that they will ever meet the criteria for garnering such an exclusive piece of hologram embossed ABS plastic card. For starters, only 1% of Americans have a black card and the Centurion, as an example, requires spending in the range of $250,000 per year after the $5,000 one-time fee and $2,500 annual fee! Fortunately, there are numerous ways to creatively clear these hurdles; the simplest solution is the DIY method. Materials required; one can transparent black spray paint, one credit card, one roll transparent tape and one copy of the Wall Street Journal although any daily newspaper will suffice. Lay the card on top of the paper and spray one coat of paint every thirty minutes until your card appears invite-only black. Flip card, apply tape to the magnetic strip and signature area and repeat. In no time you will be using your homemade black card and well on your way to impressing your wealthy friends. As a warning, if you plan to use your new black card as a retail pick-up line, check the return policy before impressing the well proportioned clerk at Saks by purchasing that Rolex and asking her to dinner. While membership does have its privileges, faking it will do in a pinch!
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