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What Credit Cards Do Billionaires Use?

Billionaires and millionaires use credit cards just like you and me. However, while an ordinary person uses a credit card to make purchases, billionaires use credit cards to get luxurious rewards and flaunt their status. Billionaires prefer credit cards with luxurious rewards that help them live luxurious life. Credit cards used by the super-rich attract high annual fees and they only come only through invitation when one achieves a certain benchmark.

We are going to review some of the credit cards used by billionaires and millionaires, the annual fees, and the perks that they come with.

What Credit Cards Do Millionaires Use?

The following are some of the credit cards used by billionaires and millionaires and the perks they come with.

1. Bank of Dubai First Royale MasterCard

  • Annual fees - $1905

Bank of Dubai First Royale is the most prestigious credit card and is ideal for billionaires and millionaires. To become a cardholder, you have to get an invitation. The card does not have a spending limit. It has high-interest rates and annual fees which the bank does not state.  

The card comes with zero restrictions, no credit limit, and 24/7 lifestyle management. As such, credit card holders can spend as much as they want.

2. American Express Platinum Card

Amex Platinum Card
  • Annual fees - $695

Amex Platinum Card is one of the credit cards billionaires use and is a good card for high-net-worth people. You need to have a credit card score of at least 700 to qualify for this card. You get 80,000 membership reward points when you spend $6,000 on purchases during the first six months after opening an account.

You also earn 5 times membership rewards points for flights booked using the card for up to $500,000 per year. In addition, it offers a $200 prepaid hotel credit and a $240 digital entertainment credit.

3. J.P Morgan Reserve Card

J.P Morgan Card
  • Annual fees - $595

J.P Morgan Card is one of the credit cards billionaires use and is available by invitation only. To get an invitation, you must have invested at least $10 million worth of assets in JP Morgan asset management. The card comes with a wide range of perks and rewards like a $300 annual travel credit.

The card comes with fraud monitoring with fraud alerts around the clock. It also has 24/7 customer service and world travel assistance.

4. Chase Sapphire Reserve

Chase Sapphire Reserve
  • Annual fees - $550
  • Regular APR - 19.99% to 26.99%

Chase Sapphire Reserve is a credit card for billionaires and millionaires. It gives you 80,000 points after you have spent $4,000 on purchases within the first 3 months after opening an account. You need to have good credit scores to qualify for this card.

Some of the perks cardholders get to enjoy include 5 times points when they purchase flight tickets using the card, a $300 annual travel credit, and access to Sapphire Lounge.

5. American Express Centurion ‘Black’ Card

American Express Centurion Card
  • Annual fees - $5,000
  • Regular APR - 21.99% to 29.99%

American Express Centurion is also known as Amex Black Card and is one of the most exclusive card in the world. This is a credit for billionaires that comes with status and class. You need to have an income of at least $1 million annually to qualify to get it.

You have to be invited to get this card and when approved, you must pay a $5,000 annual fee and a $10,000 initial fee. It gives cardholders traveling status and access to private lounges at airports.

6. Stratus Rewards Visa Card

  • Annual fees - $1,500

Stratus Rewards Visa is also a good credit card for wealthy people. You only get this card through invitation. When you use the card, you get reward points that you can use to access perks like private jets and charter flights. Other perks include car services, upgrades at luxury hotels, access to lifestyle management, and merchandise discounts.

Also read: Do billionaires use credit cards?

7. Coutts World Silk Card

  • Does not charge annual fees

Coutts World Silk Card is an excellent card for wealthy people in England. One of the prominent people who have used the card is the Late Queen Elizabeth II. You need to have at least $1 million in your account to qualify. Some of the perks the card comes with include 24/7 concierge service, access to airport lounges, and private shopping at designer stores.

Summary of Billionaires and Millionaires Credit Cards

Billionaires and millionaires use credit cards to enjoy luxurious perks, unlike ordinary person who uses credit cards for purchases. Credit cards that billionaires use come with many perks like access to private lounges. These credit cards usually have high annual fees and require one to have excellent credit scores to qualify. Besides, for most of them, to become a cardholder, you must get an invitation.

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