My old roommate has the card. His credit score is not amazing because he runs ALOT of money through his accounts and doesnt bother paying before the statement cuts. He is not worrying about "maximizing his score". The Centurion is just a charge card at the end of the day I'm sure the UW criteria is not that difficult especially if you have millions in holdings. Now as far as getting an invite, thats a whole different story.
Regarding very high income and famous people (i.e. the big people...), it is definitely accurate that many have less than stellar to horrible credit.
There was a website that had dozens of leaked celebrity credit reports. While the only names that I remember off the top of my head were Bill Gates and Paris Hiton, I do remember seeing many famous actors and actresses. And none of them had a very 'good' credit report, at least in regards to what matters to a score. Many had late payments and even some defaults. The vast majority only had a handful of tradelines - a couple credit cards, a couple car loans and a mortgage. Granted, those credit cards were usually $50-250k in limits, hundreds of thousands in car loans and multi-million dollar mortgages. But outside of those very high limits/balances, the rest of the reports looked mediocre at best. Almost everyone of them had an Amex (likely Centurion) and maybe a BoA or Chase.
Point being, as others have said, when you have millions->billions in assets, the rules are different. You could have a 600 FICO score and still get approved for anything you want - because the banks know they will get their money (most of the time). They want famous celebrities to carry their cards since it makes their brand seem more elite to everyone else who sees them use it. In the end, they don't care about their credit score because it doesn't mean anything for them.
Thread locked and under review.
