Nedbank launches Black Card for super-elites

American Express and Nedbank have partnered up to being the super-elite Amex Centurion card – more commonly known as the the “Black Card” – to a select group of South Africans.

One cannot simply sign up to the exclusive global “Black Card” club, with the offer from Nedbank Private wealth being invitation-only, or upon appointment to a select group of individuals in South Africa.

“Centurion is intended for clients who demand a new level of personal service, something that surpasses anything else on offer in South Africa today,” said Vince Boulle, executive head of Nedbank Private Wealth.

“These clients are people who seek more enriched lives. Not only do they want to ease and facilitate their busy and frenetic lifestyles – they want privileged access to the most unique experiences and expert services globally and at home.”

The Amex Black Card

The Amex Centurion card was introduced in 1999 to customers who meet American Express’ eligibility criteria. The card started out as rumour and a myth, but American Express eventually made the legend a reality, and created an all-black titanium card to serve the needs of its super rich customers.

The card isn’t strictly a credit card, but rather a charge card – meaning there’s no minimum monthly repayment system, and the card must be paid in full at the end of the month, according to reports.

This means that there is no pre-set spending limit – and no interest fees.

As the card is invite-only, the criteria for eligibility are open to rumour and speculation – though most reports on the card peg requirements of prospective holders at having a significant net worth; an excellent credit record; and being willing to spend around $250,000 (R2.58 million) a year.

In the USA, the card requires a $7,500 (R77,277) initiation fee, as well as a yearly account fee of $2,500 (R25,760).

According to American Express, Centurion members benefit from direct access to a dedicated personal Centurion Relationship Manager, on hand to proactively take care of the business and leisure needs of members.

Members also have round-the-clock access to a dedicated team of service professionals who will provide specialist help and advice on travel, entertainment, lifestyle and financial matters, whether it entails facilitating travel bookings to support complex international itineraries or securing privileged access to some of the world’s most sought-after venues.

“This exclusive membership is only for those whose lifestyles demand benefits and personalised service unlike any other. This is a world few ever see. Bespoke. Distinctive. One of a kind Centurion is far more than a card, it is the ultimate lifestyle companion and we are delighted to offer Centurion through Nedbank Private Wealth,” said Boulle.

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Nedbank launches Black Card for super-elites