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INVITE ONLY: How the insanely rich pay for multi-million dollar items

·3-min read
The interior of a private jet and yachts docked at a wharf.
The ultra wealthy have a range of special perks offered to them when they choose to splash their cash with these cards (Source: Getty)

While it is technically possible to purchase extremely expensive items with cash, you’d likely run into some roadblocks.

So it’s unsurprising that most of the world's mega-wealthy tend to pay by credit card. But which one do they use?

There are a number of options available, and each comes with their own special perks to encourage millionaires and billionaires to keep their riches with that specific bank.

This is a look at three of the most popular ‘high roller’ cards and their incredible perks.

Top credit cards for the extremely rich

1. American Express Centurion

The AMEX Centurion card.
(Source: Forbes)

One of the most elusive cards, known simply as the ‘Black Card’, the American Express Centurion is by invite only for those customers who spend at least $340,000 a year.

The perks

To allow ultra rich clients freedom to buy whatever they want, whenever they want, the Centurion doesn't have a credit limit. Meaning should you decide to purchase a multi-million dollar artwork, you don’t need to call the bank to up your limit.

You would also be given a personal 24/7 concierge at the bank. They act as your personal assistant who will get you basically anything you want - within reason.

However, there have been reports of card holders making some pretty outlandish requests.

One cardholder wanted to locate and purchase the horse ridden by Kevin Costner in Dances with Wolves, according to Snopes.

The horse was located in a stud ranch in Mexico, purchased and delivered to Europe.

In another case, a cardholder wanted a handful of sand from the Dead Sea for a child’s school project.

A courier was dispatched by motorcycle to the shores of the Dead Sea to obtain the sand, which was couriered back to London.

2. JPMorgan Chase Reserve

JPMorgan Chase Reserve card
(Source: Credit Card Insider)

Made with palladium and 24 karat gold, the JPMorgan Chase Reserve card is also only offered on invitation to certain clients.

You have to have at least $250,000 that is being privately managed by the bank's wealth management or investment management arms.

The perks

With a fee of around $595 a year, the card offers travel perks and a full United Club membership.

You can also get unlimited lounge access and Priority Pass as well as travel insurance and access to private jets.

On top of that you get access to some of the top restaurants around the world whenever you’d like to dine.

3. Dubai First Royale Mastercard

Dubai First Royale Mastercard card
(Source: Danny the deal guru)

Embedded with an actual diamond and trimmed with gold, the Dubai First Royale Matercard is exclusively offered to royalty in the United Arab Emirates and the region's millionaires.

The perks

Much like the other cards, there is no credit limit, so your only obstacle to what you can buy is your own imagination.

This card also follows in the footsteps of the Black Card with its holders given access to a dedicated relationship manager and “Royale Lifestyle Management” services.

Supposedly, while there are limited perks listed in terms of restaurant reservations and travel insurance offerings, this card claims to help you get anything you want at all.

In one instance, a cardholder wished to drive the latest model of Porsche and his lifestyle manager arranged for him to fly via private jet to Stuttgart, Germany for a test drive.

In another instance, seven Royale cardholders were brought to a private chalet to watch the Formula 1.

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