Wednesday, March 18, 2009

Black Credit Cards

Once, when I was waiting tables in college, someone paid for their meal with a Black American Express card. I wasn't exactly sure what this magical card did - but I knew it was le special...and expensive to even own, so I showed it to all the other servers before I gave it back to the patron.

Later on when I met M, he umm...had actually superimposed his name ONTO a picture of a Black American Express card. And it was framed. I don't KNOW people - he lived with BOYS - they had GOLF pictures on the walls. Sigh. Well, I married him anyway but that isn't the point.

The point is - what IS it about those black cards? Frugal Bachelor has a whole post about the new Visa Black card...which still seems silly. People even freak out when I pull out my Citi Card - my rewards card is black with a diamond pattern on it. People are slightly awed by it, but it's just a regular card! No annual fee...whatevs peeps! (PS - paying an annual fee for a credit card seems ABSURD to me (are you listening, M?) - what do you all think?

Do other people get all hot and bothered by credit cards? I get that it's a status symbol...but aren't we all poor twenty-somethings? Can't we strive for someting else? Like paid-off school loans, or enough money for a down payment?



QL girl said...

I didn't realize the obsession passed on to ANY black card....I always thought people were just awed by THE Black amex card.

For me, I was kind of awed by it, but only because it was very exclusive and I had the impression you couldn't apply for it, you could only be invited. (Plus, all of the Hollywood elite have it! It doesn't have a credit limit!)

Well, a few weeks ago I got an email from our local newspaper advertising the card and linking to an application. What the hell is that? If someone can apply for it, I don't want it! lol

(That, and the $500 annual fee didn't sound too great.)

I agree with the comment in Frugal Bachelor's post....get any of the Amex clear cards (the "Blue" or the "Clear"). People will be equally amazed, you get rewards, and most fees!

Katie & Andrew said...

My Aunt and I were talking about credit cards this past week. She doesn't have Amex black, but she does have Amex platinum which has a $500 fee. She says that she saves WAY more than $500 a year on booking flights, hotels, rental car insurance, and she loves the security of knowing that Amex will fight her battles for her. (That crazy foot massage thingy you paid $360 for and doesn't work, but they won't let you return it... Amex will get the money back. Although they do that for all their customers)
So the long story is cards, like the Platinum Amex ($500 Annual fee) or the Black Amex (I heard a $15000 annual fee from Robbie), are only worth it if you are doing a ton of spending each year.

And I think boys are silly with their Black Amex obsession as well. Owning one is Robbie's goal in life.

DH said...

I would absolutely love a Black Amex card one day! There's something special and cool (James Bond sort of cool) and aweinspiring about it for me! It's one of those dreams. But as you said, we're all poor 20-somethings, lol :) It's not that I have better things to spend my money on but more the fact that I don't have any money to spend :)
But one day, though.