What Kind of Credit Cards Do Millionaires Use?

Credit Cards for Billionaires

The credit card most likely used by billionaires is the Centurion® Card from American Express, also known as the Amex Black Card. It offers unique benefits and is reserved for high-net-worth individuals. Some rumored cardholders include Jerry Seinfeld and Halle Berry.

Jeff Bezos’ Business and Philanthropy

  • Jeff Bezos is worth $183 billion with a significant percentage kept in cash.
  • The Bezos Family Foundation handles his philanthropy, with a notable $10 billion donation made in 2020 to fight climate change.
  • Amazon’s success is the primary source of Bezos’ wealth.

Building Wealth

  • To build wealth, focus on budgeting, improving credit, paying off debt, or increasing income.
  • Bezos started with a modest amount and leveraged credit cards for investments before turning a profit in real estate.

Credit Cards for Millionaires

Millionaires commonly use credit cards such as the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card, and The Platinum Card® from American Express. These exclusive cards are available only by invitation and offer benefits like consumer protections and great fraud protection.

Usage and Benefits for the Wealthy

  • Millionaires view credit cards as leverage for investment opportunities.
  • They prefer simplicity and tend to stick with a few cards over years.

Celebrities and Credit Cards

The American Express Business Centurion Card, also known as the Amex Black Card, is a highly associated credit card with celebrities. It is invite-only and offers exclusive lifestyle benefits.

Elite Credit Cards

Top-tier consumer credit cards like Chase Sapphire Reserve® provide elite bonuses like lounge access and travel benefits, offering a taste of luxury without exorbitant fees.

Leave a Comment