You need to spend $250,000 in one year with American Express. Once you have your card there is no minimum spend required to keep it, this has been misreported as being $100,000 a year on top of the $250,000 you need to spend initially. There is also an upfront fee of 5k.

Originally Posted by CreditDave

I think the upfront fee was upped to $7,500 this year.

WOW! Just for using a credit card? There'd better be some serious benefits to this card!

Originally Posted by OneMoreDollar

WOW! Just for using a credit card? There'd better be some serious benefits to this card!

I've always wanted one so that people would know I had money to spend!

Originally Posted by CreditDave

It's not nearly nearly as attractive as it once was IMO.

Good to know.

Originally Posted by CreditDave

I think the upfront fee was upped to $7,500 this year.

There's also an annual fee of $2,500 for your first year and each year after. So your first year you're looking at a $10,000 fee just to get the card.

Originally Posted by JollyRoger

There's also an annual fee of $2,500 for your first year and each year after. So your first year you're looking at a $10,000 fee just to get the card.

yeah and most of the same "services" are now offered with cards that cost less than $100 a year to carry. Sure you aren't going to be getting a gift or two worth a few hundred dollars from Capital One every year but even taking the gifts that Amex sends you into account many people are still throwing away thousands and potentially tens of thousands of dollars for a status symbol that isn't really that much of a status symbol anymore.

Personally I think the new black Marriott Premier card looks just as good.