There is no automatic upgrade to black card after a year of charging.
You have to have the platinum card and then they have to Invite you to upgrade to Black
Then I will just have to disagree with you.
Last time I spoke to a rep, I was told I would have to upgrade my card to platinum and then be invited
let me get this straight, you WANT to pay a credit card company $5000 to become a member of a group of card holders then another $2500 PER YEAR to remain in this group?
They can keep their card. I could find a host of stuff to buy with an extra $2500/yr. It doesn's seem to be a wise business decision more of a status symbol.
insert foot in mouth, I did some calling around and I spoke to soon, they have changed the way to get the black card, I'm assuming since trying to get all there customers to be charge card holders and users again vs. credit card users. You can now upgrade to black card anytime you want once you meet the requirements of $250k in last 12 months and have been a cardholder for at least 12 months time.
It's $5000 to except
$2500 annual fee for primary
$1500 for any additional cards annual fee.
They said nothing about having to have platinum so I am going to just continue to sit on my gold card and work on getting my charges up, I'm about 100k shy right now! lol
Many peoples reactions are the same as yours. This is a business card, the expense will be written off. It's a status symbol that pays for itself in certain businesses. It also offers a whole array of benefits that are unavailable with other cards.
BTW, good to hear creditaddict.
I just about jumped out of my seat.
I have no problem with the annual fee because of what it does, but I'm still choking just a little on the 5k acceptance! I'm sure if I qualify anytime soon though I will get over it just to hold titanium in my hand! lol