Most prestigious credit card in Canada: RBC Visa Infinite Card

[najibs]

I gathered all this info from the Flyertalk forums, apparently at the end of the month, RBC is rolling out the most prestigious credit card in Canada, since there's no Canadian Amex Centurion, called the RBC Visa Infinite, which will be catered mainly towards the RBC private banking clients, but apparently RBC VIP clients can also *try* getting it by speaking to the senior account manager. There will not be an advertising campaign for the card, either.

"Cost is $399 per year for Private Banking clients, $599 for non-Private Banking clients.

* RBC Rewards redemption rate of 2% instead of 1% for all travel rewards, all flight classes, no blackout periods or seat restrictions
* Visa Infinite concierge service (don't know if third-party company)
* Complimentary Priority Pass membership (the $99 annual fee version)
* Complimentary TabletPlus membership (usual fee $195)
* Complimentary access to Zagat® restaurant ratings and reviews
* Special "black card"
* Dedicted customer support number for Visa Infinite clients only.
* Extensive travel insurance coverage and emergency assistance
* Minimum $20,000 credit limit"

Here's the website for info on Visa Infinite:
http://www.visa-infinite.com/

Looks great, but good luck trying to get one. I don't think this card is catered towards RFDers :cheesygri

[UrbanPoet]

ahh i just got the internal email @ work about this a week ago.
Pretty impressive.

To qualify for the RBC Visa Infinite card, an applicant must meet the following criteria:

Credit limit of $20,000 or more and
Investible assets of $1 million or more or
Annual personal income of $250,000 or more, or
Net worth of $3 million or more.

[ynot]

I'll have to share this with my boss, she's pissed at AMEX. May tell my father-in-law too, he qualifies.

[pogs]

I gathered all this info from the Flyertalk forums, apparently at the end of the month, RBC is rolling out the most prestigious credit card in Canada, since there's no Canadian Amex Centurion, called the RBC Visa Infinite, which will be catered mainly towards the RBC private banking clients, but apparently RBC VIP clients can also *try* getting it by speaking to the senior account manager. There will not be an advertising campaign for the card, either.

"Cost is $399 per year for Private Banking clients, $599 for non-Private Banking clients.

* RBC Rewards redemption rate of 2% instead of 1% for all travel rewards, all flight classes, no blackout periods or seat restrictions
* Visa Infinite concierge service (don't know if third-party company)
* Complimentary Priority Pass membership (the $99 annual fee version)
* Complimentary TabletPlus membership (usual fee $195)
* Complimentary access to Zagat® restaurant ratings and reviews
* Special "black card"
* Dedicted customer support number for Visa Infinite clients only.
* Extensive travel insurance coverage and emergency assistance
* Minimum $20,000 credit limit"

Here's the website for info on Visa Infinite:
http://www.visa-infinite.com/

Looks great, but good luck trying to get one. I don't think this card is catered towards RFDers :cheesygri

Who knows, maybe some RFDers got rich by pinching pennies. The senior with the cane sitting next to you on the local transit may very well be an RFDer...LOL :cheesygri

[brunes]

I gathered all this info from the Flyertalk forums, apparently at the end of the month, RBC is rolling out the most prestigious credit card in Canada, since there's no Canadian Amex Centurion, called the RBC Visa Infinite, which will be catered mainly towards the RBC private banking clients, but apparently RBC VIP clients can also *try* getting it by speaking to the senior account manager. There will not be an advertising campaign for the card, either.

"Cost is $399 per year for Private Banking clients, $599 for non-Private Banking clients.

* RBC Rewards redemption rate of 2% instead of 1% for all travel rewards, all flight classes, no blackout periods or seat restrictions
* Visa Infinite concierge service (don't know if third-party company)
* Complimentary Priority Pass membership (the $99 annual fee version)
* Complimentary TabletPlus membership (usual fee $195)
* Complimentary access to Zagat® restaurant ratings and reviews
* Special "black card"
* Dedicted customer support number for Visa Infinite clients only.
* Extensive travel insurance coverage and emergency assistance
* Minimum $20,000 credit limit"

Here's the website for info on Visa Infinite:
http://www.visa-infinite.com/

Looks great, but good luck trying to get one. I don't think this card is catered towards RFDers :cheesygri

I think not.

The most prestigious credit card, period, is AMEX Centurion.

http://upload.wikimedia.org/wikipedia/commons/thumb/d/d7/Titaniumcenturion.jpg/200px-Titaniumcenturion.jpg

http://en.wikipedia.org/wiki/Centurion_Card

$2,500 annual fee. Requirements include minimum annual spending of $250,000, exceptional credit history, and significant financial assets

And yes, it is available in Canada, as well as several other countries, if you meet the criteria.

[pogs]

I think not.

The most prestigious credit card, period, is AMEX Centurion.

http://upload.wikimedia.org/wikipedia/commons/thumb/d/d7/Titaniumcenturion.jpg/200px-Titaniumcenturion.jpg

http://en.wikipedia.org/wiki/Centurion_Card

$2,500 annual fee. Requirements include minimum annual spending of $250,000, exceptional credit history, and significant financial assets

And yes, it is available in Canada, as well as several other countries, if you meet the criteria.

Does this come with an airmiles option? If it does, that would be hilarious if someone bought a house or some other large item like that, and received A LOT of airmiles...LOL. :cheesygri

[najibs]

I think not.

The most prestigious credit card, period, is AMEX Centurion.

http://upload.wikimedia.org/wikipedia/commons/thumb/d/d7/Titaniumcenturion.jpg/200px-Titaniumcenturion.jpg

http://en.wikipedia.org/wiki/Centurion_Card

$2,500 annual fee. Requirements include minimum annual spending of $250,000, exceptional credit history, and significant financial assets

And yes, it is available in Canada, as well as several other countries, if you meet the criteria.

Nope, it's not available in Canada. If you say it is...PROVE IT! :cheesygri

[zoober]

Prestigious credit cards :rolleyes:

[Rehan]

"Cost is $399 per year for Private Banking clients, $599 for non-Private Banking clients.

... Meh. For frugal high spenders, the 2% cashback from Amex is way more valuable than the benefits from the Centurion or this new RBC card. Those two may be "prestigious", but they're not going to win any awards on RFD. :razz:

[Igor01]

The minimum credit limit of $20.000 is somewhat lower than "infinite" :) The possibilities of having a true "infinite" card would be quite interesting. One could, for example, buy everything there is in the world that can have a price tag attached to it in one elegant and magnificent move, including the credit card issuing company, then rule the world! Muhahahaha!!!11111

[oeketer]

I always thought the centurion card is available to canadians, but it is charged in US$.

[st7860]

I gathered all this info from the Flyertalk forums, apparently at the end of the month, RBC is rolling out the most prestigious credit card in Canada, since there's no Canadian Amex Centurion, called the RBC Visa Infinite, which will be catered mainly towards the RBC private banking clients, but apparently RBC VIP clients can also *try* getting it by speaking to the senior account manager. There will not be an advertising campaign for the card, either.

"Cost is $399 per year for Private Banking clients, $599 for non-Private Banking clients.

* RBC Rewards redemption rate of 2% instead of 1% for all travel rewards, all flight classes, no blackout periods or seat restrictions
* Visa Infinite concierge service (don't know if third-party company)
* Complimentary Priority Pass membership (the $99 annual fee version)
* Complimentary TabletPlus membership (usual fee $195)
* Complimentary access to Zagat® restaurant ratings and reviews
* Special "black card"
* Dedicted customer support number for Visa Infinite clients only.
* Extensive travel insurance coverage and emergency assistance
* Minimum $20,000 credit limit"

Here's the website for info on Visa Infinite:
http://www.visa-infinite.com/

Looks great, but good luck trying to get one. I don't think this card is catered towards RFDers :cheesygri

suppose you spend $100,000 a year with this card. will you get a business class ticket to Europe or Asia? I don't think so. with the CIBC aerogold card, you will.

[najibs]

suppose you spend $100,000 a year with this card. will you get a business class ticket to Europe or Asia? I don't think so. with the CIBC aerogold card, you will.

People who this card is catered for have at least $1m in assets, and have an annual income of $250k minimum. I highly doubt someone with that much money is worried about a ONE free business class ticket.

[Rehan]

People who this card is catered for have at least $1m in assets, and have an annual income of $250k minimum. I highly doubt someone with that much money is worried about a ONE free business class ticket. Doesn't 3weddings drive her Porsche to No Frills? :razz: Even high income folks can like deals / rewards / freebies.

[najibs]

Doesn't 3weddings drive her Porsche to No Frills? :razz: Even high income folks can like deals / rewards / freebies.

No, I don't think her hubby lets her drive it alone, yet :cheesygri

[brunes]

Nope, it's not available in Canada. If you say it is...PROVE IT! :cheesygri

It's hard to prove since you can't apply.... according to various sites, only around 10,000 people in the world even have it. Strictly invitation only.

Suffice it to say if you fit in the wealth class targeted by this card, Amex. does not give a hoot what country you live in.

Does this come with an airmiles option? If it does, that would be hilarious if someone bought a house or some other large item like that, and received A LOT of airmiles...LOL. :cheesygri

The perks of this card go a bit beyond mileage..

According to Snopes.com, a Web site that examines the truth of urban legends, one Centurion cardholder wanted to locate and purchase the horse ridden by Kevin Costner in the movie, "Dances with Wolves." The horse was located on a stud ranch in Mexico, purchased and delivered to Europe.

Another request, according to Snopes, came from a cardholder who aspired to be an actress and wanted to be part of the cast of a weekly soap opera on TV. American Express contacted the director and arranged for an audition.

[Rehan]

It's hard to prove since you can't apply.... according to various sites, only around 10,000 people in the world even have it. Strictly invitation only.

Suffice it to say if you fit in the wealth class targeted by this card, Amex. does not give a hoot what country you live in. It's quite easy to prove, just buy showing one person that has it. AmEx USA may offer a US Centurion card to some Canadians, but AmEx Canada does not have one and therefore it is "not available in Canada".

[st7860]

Doesn't 3weddings drive her Porsche to No Frills? :razz: Even high income folks can like deals / rewards / freebies.

out west there are tons of 'ethnic' people that drive german cars to costco and real canadian superstore.

[st7860]

Doesn't 3weddings drive her Porsche to No Frills? :razz: Even high income folks can like deals / rewards / freebies.

out west there are tons of 'ethnic' people that drive german cars to costco and real canadian superstore.

[Thalo]

Why do smart, rich people pay such ridiculous annual fees for credit cards? I mean you don't get rich by paying $2500/year so that a bank or credit card company can profit off you.

[brunes]

It's quite easy to prove, just buy showing one person that has it. AmEx USA may offer a US Centurion card to some Canadians, but AmEx Canada does not have one and therefore it is "not available in Canada".

Well I don't hob nob with too many multi hundred millionaires or celebrities, so...

According to numerous sources you can get it in any country. The wiki page even lists the differing annual fee depending on issuing currency. CDN would not be a specific listing because anyone in Canada would have a USD one.

Why do smart, rich people pay such ridiculous annual fees for credit cards? I mean you don't get rich by paying $2500/year so that a bank or credit card company can profit off you.

Because of the perks. I get the impression it is targeted toward the wealthy who require time management. If you read up on what is offered by this card it is insane. Basically this card becomes your own personal assistant so you don't have to hire your own. Any time you need a trip, you call Amex, describe where you want to go and when, and they take care of every detail. Want to procure something but don't have the time to do your own research to find out where to get it, call Amex, they will get it for you.

[najibs]

According to numerous sources you can get it in any country. The wiki page even lists the differing annual fee depending on issuing currency. CDN would not be a specific listing because anyone in Canada would have a USD one.


PROVE IT. Simple as that.

Amex Canada has stated that the Black card is not available to residents of Canada. It doesn't matter if you spend $1m with them. If all you have is a Canadian credit history, you won't get a black card. Simple as that. If you have a US credit history, which some Canadians do, from having LIVED in the US for a period of time, then yes you'd be able to obtain a US issued Amex Black even if you do not reside there any longer. You cannot obtain a US-issued credit card without a social security number. The Canadian SIN will not work.

[tkyoshi]

Now all we need is Mastercard World Signia to complete the collection :P

It competes directly with the Black AMEX, however it's only available in Europe i think.

Basically you have a credit limit but its used for revolving purchases. You can exceed the credit limit but it's subject to approval like a charge card. You must pay the excess off at the end of the month, you cannot carry it over.

They basically set the overlimit fee/penalty to $0 @ 0% APR.

[thelost]

so it's pretty much a credit card that is black in color and has a huge annual fee?

this stuff doesn't make sense to me. what is wrong with people that they want to feel good about themselves by having a prestigious credit card. i don't care what credit card people have and i would look down at any idiot that wants to give more of their hard earned money to credit card companies just so they can have something 'exclusive'.

and those stories of what people are using these cards to buy (horses and movie auditions) make me sick. god i hate rich people so much now.

[najibs]

so it's pretty much a credit card that is black in color and has a huge annual fee?

Why don't you read about the benefits the card comes with, before making your own assumptions?

this stuff doesn't make sense to me. what is wrong with people that they want to feel good about themselves by having a prestigious credit card. i don't care what credit card people have and i would look down at any idiot that wants to give more of their hard earned money to credit card companies just so they can have something 'exclusive'.

Why the sour grapes, man? It's not JUST a credit card you're paying for. It includes high end services like personal concierge, travel agency that'll book your tickets. People are willing to pay for these services, and card like this do provide value for the money, among things like travel medical insurance, and baggage delay insurance.

and those stories of what people are using these cards to buy (horses and movie auditions) make me sick. god i hate rich people so much now.

I hate ignorant people :rolleyes:

[BadDrafter]

I hate ignorant people :rolleyes:

Hate is such a strong word.

Nice card by the way.

When I got the gold amex 2% (that gman said used to be exclusive) I felt like I got the poor man's centurion card.

Did anybody else feel that way too or am I touched in the head?

[thelost]

Why don't you read about the benefits the card comes with, before making your own assumptions?



Why the sour grapes, man? It's not JUST a credit card you're paying for. It includes high end services like personal concierge, travel agency that'll book your tickets. People are willing to pay for these services, and card like this do provide value for the money, among things like travel medical insurance, and baggage delay insurance.



i had read about the concierge and ticket booking. i am fairly certain you could find tickets for cheaper on your own in minutes now that it is the internet age. even calling a travel agent would probably be cheaper than having to pay some guy to call them/book the flight for you.

also last i checked, travel medical insurance and baggage delay insurance were standard on tons of cards that don't charge an exorbitant annual fee.

anyway if you want to have a servant to book tickets for you and pay tons of money to useless corporations go ahead.

[bacid1]

i had read about the concierge and ticket booking. i am fairly certain you could find tickets for cheaper on your own in minutes now that it is the internet age. even calling a travel agent would probably be cheaper than having to pay some guy to call them/book the flight for you.

also last i checked, travel medical insurance and baggage delay insurance were standard on tons of cards that don't charge an exorbitant annual fee.

anyway if you want to have a servant to book tickets for you and pay tons of money to useless corporations go ahead.



with a post like this it's obvious you don't know anyone who is extremely wealthy.

ask a wealthy person what they want most, it's not more money, it's TIME.

these people are working insane hours, they don't have TIME to go look on expedia/priceline/hotwire/itravel2000 for cheapest tickest. they DON'T care about the price. they just want someone to do it for them so they show up at the airport and everything is ready.

these same people don't even pack suitcases, one friend told me the story of a businessman who had stores in the destination city deliver new clothes to his hotel. he would do this wherever he went.

[Octavius]

Hate is such a strong word.

Nice card by the way.

When I got the gold amex 2% (that gman said used to be exclusive) I felt like I got the poor man's centurion card.

Did anybody else feel that way too or am I touched in the head?

+1

I actually like the idea of knowing that my credit card is somewhat exclusive...even if the exclusive means that anyone can get it (but hardly anyone has it).

Poor Man's Centurion For The Win.

[najibs]

+1

I actually like the idea of knowing that my credit card is somewhat exclusive...even if the exclusive means that anyone can get it (but hardly anyone has it).

Poor Man's Centurion For The Win.

+2 :cheesygri

[halflife150]

Doesn't sound all that great, sounds a lot like a cheaper version of the Canadian Amex platinum card.

Same fee of $399
Also has a concierge service
It has a plethora of other benefits that far outnumber the couple of benefits of this card.
Only need a $60,000 income to apply
Only negative is it is 1.5% return compared to this cards 2% return of the Visa Infinite card. Though if you make use of just a couple of the benefits of the Amex card, it would far outweigh the extra .5% of the Visa card.

So Canada already has a card with the title of "Most prestigious credit card in Canada", and the addition of this card hasn't changed that.

[Rehan]

Doesn't sound all that great, sounds a lot like a cheaper version of the Canadian Amex platinum card.

....

So Canada already has a card with the title of "Most prestigious credit card in Canada", and the addition of this card hasn't changed that. The "prestige" of the black cards comes from their exclusivity, not from the benefits. In that respect, the AmEx Platinum doesn't even compare.

[faken]

I don't believe in paying more money for something that will make me spend more money.. low annual fee cards FTW!

[gugu02]

haha all this talk about exclusivity makes me sad that i feel 'exclusive' with my lowly MBNA Platinum Plus card......lol.......

i laugh with contempt with those lowly 'preferred' mbna card holders.....lol

how sad is that.......


ive changed my card type so often just to find the most attractive and shiney card........ive settled on the WorldPoints MC.......its completely blue on the front with a silver sliver on the left side.....and completely blood red on the back.........lol

im such a nerd

[Thalo]

I used to use my Citi Petropoints card all the time 'cause it was so shiny and really impressed the girls at the checkout aisle. Then they replaced it with a less shiny version and now I use it only at the pump. It's all about the Gold Travel bling now.

[st7860]

I used to use my Citi Petropoints card all the time 'cause it was so shiny and really impressed the girls at the checkout aisle. Then they replaced it with a less shiny version and now I use it only at the pump. It's all about the Gold Travel bling now.

oh yeah. thats a great card. 2 cents a litre off gas at any time.

i wish they had one for savings off of jet-a

[tebore]

The Amex centurian Card is made from Ti tho. That's fancy. It can cut up other plastic cards.

That'd be so funny to see someone go "Well my card can do this" and slice another card up.

[ItemFinder]

This card just goes to show you how much of a douchebag you are.

[Hot Like Wasabi]

I did an on-line survey about this a few months ago. Boy did they ever get the wrong demographic when they sent the survey to me! :)

[new_vr]

Doesn't 3weddings drive her Porsche to No Frills? :razz: Even high income folks can like deals / rewards / freebies.
You don't get rich by writing a lot of cheques

[tanmanwayne]

Just thoughts...venting thoughts....

I know a lot of people like to have the status of having the Gold Cards, Platinum Cards thinking in some cases that they will be viewed or treated better by store employees when they see the cards.

i.e. "oooh...look, he/she has a platinum card...I wonder how wealthy he/she is?!? We better treat that person with VIP special service".

I used to think like that when I was younger. (Also thought that I could impress my dates/girlfriends when I was single). But the important thing is to review and understand the benefits of the card you are getting. For me, I have had a gold VISA card for the sole purpose of the automatic 31 day travel medical insurance for me and my family, purchase and extended protection and CDW.

Sure I pay a fee, but have kept the credit limit to the bare minimum to qualify.

But when I see or hear people talking about "oooh, I want an Infinite Visa or a Centurion AMEX", I can only ask myself..."WHY?"

a) Make yourself a target to people standing behind you who may notice what kind of credit card you use, and use it as an identifier of the type of money you may have.

b) On a more comical note - It's also a badge to show how much debt a person likely really has!

Please no flaming, I'm just venting in thinking about my credit card debt....sigh.

Cheers!
Tano.

[st7860]

you do realise a lower credit limit makes your credit score go down?

[tanmanwayne]

Not necessarily.

In fact it all depends on the total amount of 'unsecured' credit that you have which is directly correlated to your gross annual income.

The above statement helps provide an indicator as to how much additional credit you may qualify for.

To my memory (it's been a number of years since I worked in the Credit industry), when a person applies for a credit card (as an example). The application must be filled out, and authorization for the lending institution must be provided to pull a credit bureau check for the app.

In most cases, once this is done, credit scoring (or behavioural scoring depending on whether you deal with Equifax or Transunion) information is obtained to calculate the risk based on total outstanding credit which is in many cases a combination of secured and unsecured, confirmation of annual gross income and payment patterns.

Usually, most institutions have a maximum safe risk threshold of about 40% for the Total Debt Service Ratio (TDSR) which is a ratio of debt to income.

So for the statement of a lower credit limit card impacting your scoring, possibly, but if you have other lines of credit combined, it is more beneficial for you.

i.e.

Gross Income=$50,000 - Maximum safe amount of unsecured loans (i.e. credit cards) would be about 20k.

Thus, in this situation if the annual income were not to change:

Having and maintaining a 20k credit card vs maintaining and having a 10k credit card would do nothing for the cardholder.

Essentially, the 20k person is just maintaining a good credit rating, but will have no additional room to obtain more credit.

While on the other hand, the person with a 10k credit limit will maintain a good credit rating, but will still have more room to borrow for additional lines should he/she wish to.

So, if you are at your threshold (i.e. High TDSR of 35-40%) but have maintained it well, you might be able to negotiate an additional line of credit, but would be considered high risk.

In the long run, why does a person need so much credit? Just spend what you can afford, and take advantage of the 'perks' provided by the various companies whether they be air miles, aeroplan miles, Avion points, etc.

Cheers!
Tano

p.s. I'm starting to practice what I preach...paying off my entire bill every month. No impulse buying...well except for the Rogers 2for$40 deals, and the dell.ca deals, the all the RFDeals which interest me.

SIGH... ;)

[adamtheman]

The 2% redemption instead of 1%. What exactly does that mean? How do RBC rewards work for travel........ basically is it if you spend $1000, you get $20 in credit towards any travel you want?

[tanmanwayne]

The 2% redemption instead of 1%. What exactly does that mean? How do RBC rewards work for travel........ basically is it if you spend $1000, you get $20 in credit towards any travel you want?

Pretty much...depending on which point program you're on.

Essentially you have to look at it this way. In the end it's your money that you're spending; you just have to try and maximize the benefits.

No matter what happens, the banks make money from you via your credit card purchases, and WANT you to spend such that you have an outstanding balance monthly. This is so they can charge you the 20.5%+ interest rate for EACH of your charges from the original date of transaction! Even if you pay off your balance in full each month, they still make money from the various merchants via commission cost of 1-6% per transaction. (Hence why some places with low profit margins accept cash only, or charge a fee (computer stores).

If you are a big spender, pay off everything in full each month, then you can utilize the benefits of whichever card you want with minimal overhead to yourself.

All the best!

Cheers!
Tano :lol:

[Wall Man]

with a post like this it's obvious you don't know anyone who is extremely wealthy.

ask a wealthy person what they want most, it's not more money, it's TIME.

these people are working insane hours, they don't have TIME to go look on expedia/priceline/hotwire/itravel2000 for cheapest tickest. they DON'T care about the price. they just want someone to do it for them so they show up at the airport and everything is ready.

these same people don't even pack suitcases, one friend told me the story of a businessman who had stores in the destination city deliver new clothes to his hotel. he would do this wherever he went.

This is exactly the point. Time is something that is more imporant than money. Would you rather spend time saving a few hundred dollars or spend time making a few million? If you can't make the millions, then saving a few hundred is a pretty good plan.

The cost of these cards in relation to a 'wealthy' person's income is pretty small. Some people spend more on one meal than on the annual fee.

[adamtheman]

This is exactly the point. Time is something that is more imporant than money. Would you rather spend time saving a few hundred dollars or spend time making a few million? If you can't make the millions, then saving a few hundred is a pretty good plan.

The cost of these cards in relation to a 'wealthy' person's income is pretty small. Some people spend more on one meal than on the annual fee.

People here keep talking about the concierge service being used by very wealthy people. Honestly, if you are so wealthy that you don't care about money and you buy new clothes every single day, you are NOT going to be using some crappy concierge service on a credit card... you are going to have your own personal assistant to do that all for you. This card is good for people who are lazy but not rich enough to buy a personal assistant.

[najibs]

People here keep talking about the concierge service being used by very wealthy people. Honestly, if you are so wealthy that you don't care about money and you buy new clothes every single day, you are NOT going to be using some crappy concierge service on a credit card... you are going to have your own personal assistant to do that all for you. This card is good for people who are lazy but not rich enough to buy a personal assistant.

You're wrong, because that would require hiring someone, and again, that takes a lot of time. Lost time = lost money.

Why can't some of you simply understand that cards like this and Amex's centurion card are successful because there's actually a market for it. These are multi billion dollar companies who have done their research, and recognize a market for this premium product. Yes there is, and they are making money from it! Simple as that. I would tend to believe them over some idiot on RFD who is simply opinionated and can't understand the product because his lame brain can't comprehend it.

It's simple marketing really. RBC offers a premium product to satisfy needs of not all, but a select number of consumers who ARE willing to pay for it.

[Trapese]

I'm amazed to hear so much hype over a credit card that costs $399 a year. Sounds like there are more to come...CIBC just announced an Infinite also. How much is that going to cost?

Read all the emails from santa clause hat man ... where do you work buddy? Royal Bank? Sounds like a sales pitch.

I just received a letter from TD to tell me that they will be changing my gold travel card to a new TD Infinite. Guess what? Same fee of $120. I can redeem for travel anywhere I want ... best deals, online if I want. Oh yeah .. loaded with travel insurance, looks like same consierge service and restaurant program also. Now I'm sounding like santa salesman.

If you are going to pay $399 or was it $599 for a credit card ... do some research. How much do you have to spend to just get back that fee? Crazy.

I'll stick with TD!

[adamtheman]

You're wrong, because that would require hiring someone, and again, that takes a lot of time. Lost time = lost money.

Why can't some of you simply understand that cards like this and Amex's centurion card are successful because there's actually a market for it. These are multi billion dollar companies who have done their research, and recognize a market for this premium product. Yes there is, and they are making money from it! Simple as that. I would tend to believe them over some idiot on RFD who is simply opinionated and can't understand the product because his lame brain can't comprehend it.

It's simple marketing really. RBC offers a premium product to satisfy needs of not all, but a select number of consumers who ARE willing to pay for it.

Yawn

[najibs]

I'm amazed to hear so much hype over a credit card that costs $399 a year.

$399 isn't much. Amex charges $499/yr for their Aeroplan Plus Platinum card and $399/yr for their Platinum charge card. It's standard practice for prestige cards.

Sounds like there are more to come...CIBC just announced an Infinite also. How much is that going to cost?

Where did you hear that? Link?

I just received a letter from TD to tell me that they will be changing my gold travel card to a new TD Infinite. Guess what? Same fee of $120. I can redeem for travel anywhere I want ... best deals, online if I want. Oh yeah .. loaded with travel insurance, looks like same consierge service and restaurant program also. Now I'm sounding like santa salesman.

Wrong. The new TD card is an 'Infinity" card, not an "Infinite" card. Sounds similar but HUGE difference. Not even remotely similar, nor in the same league.

If you are going to pay $399 or was it $599 for a credit card ... do some research. How much do you have to spend to just get back that fee? Crazy.

I'll stick with TD!

:rolleyes: You're one of those that doesn't understand either. Once again, your TD Infinity is a completely different product.

[st7860]

You're wrong, because that would require hiring someone, and again, that takes a lot of time. Lost time = lost money.

Why can't some of you simply understand that cards like this and Amex's centurion card are successful because there's actually a market for it. These are multi billion dollar companies who have done their research, and recognize a market for this premium product. Yes there is, and they are making money from it! Simple as that. I would tend to believe them over some idiot on RFD who is simply opinionated and can't understand the product because his lame brain can't comprehend it.

It's simple marketing really. RBC offers a premium product to satisfy needs of not all, but a select number of consumers who ARE willing to pay for it.

he's just SLF how would he know?

[MoreMiles]

Wrong. The new TD card is an 'Infinity" card, not an "Infinite" card. Sounds similar but HUGE difference. Not even remotely similar, nor in the same league.


What league, give me a break. It's a product. It's not a social class. People want to believe by paying a premium, they are in a different class. Look at SIR Conrad Black... sure he is a royal and high class, blah blah blah...

Then at the end of day, he is still a criminal. So this "social prestige" thing... only a shallow person would care.

I guess there is a market after all, for a group of these people.

[flyinggonzo]

It could be a good program, but it's hard to tell from the description.

Think it's hard to convince ppl to switch to a card with no reputation, when the core offering is "service", and this is an unknown commodity.

Personally, I wouldn't switch from amex for this.

Oh, for the guys arguing about centurion cards... receipients are (i) celebrities, (ii) "small" business owners, who are able to run business expenses through the card, or (iii) someone who is wealthy and spends a lot (wealthier than the min for the RBC card).

[BillyParadise]

Hate is such a strong word.

Nice card by the way.

When I got the gold amex 2% (that gman said used to be exclusive) I felt like I got the poor man's centurion card.

Did anybody else feel that way too or am I touched in the head?

Totally agreed. I get comments on my 2% gold amex almost every time i pull it out. If only they knew it was a card they could probably get themselves... who am I to tell?

[jetz]

I'd say AMEX Platinum is still better....

Just by putting all my regular bills on there, I get enough points that it outweighs the fee. But there are added bonuses:

1) Worldwide rental insurance for cars upto CDN 85 000 - visa does not even come close
2) Doubles warranty on purchases
3) 90 day protection for purchases
4) Fraud Prevention - they are constantly monitoring the card for unusual spending.....its kinda creepy and re-assuring at the same time. I have gotten calls on the road confirming where I am cause my hotel bill just went through.
5) Personalized Travel Service - Very handy when you travel a lot. Just give them your price range and other factors (proximity to a landmark, etc.) They book the flights, hotels, car rentals, etc. And they really are good.
6) Concierge - Try booking a table at Canoe on Friday night. Now, try getting the Concierge to do it. Never fails. Also very handy if you travel. Don't know if a restaurant is good or safe? Strange city, need a recommendation? Just give em a ring. Piss of the girl? need flowers at 11pm....call em.
7) Membership Rewards....the best plan I have ever had. The rewards are cheaper than any other plan and points are fully convertible to aeroplan.
8) Preferred rates on hotels and rentals - This is a killer service. The rental rates are on par with corporate/government rates.
9) By far the best baggage, accident, trip interruption insurance, etc.

There are some other perks which I personally have not used....a free companion ticket or an upgrade to business class on certain airlines, credits onboard cruises, business lounge access.

I only keep two credit cards. This and an Aeroclassic as my secondary. The services are useful when you wake up in a strange city. And the discounts and upgrades that the card entitles you to are also amazing. It's not a "rich people" card as some think. But at 60k minimum income, its a higher bar than most cards. This card is pretty much the gold standard for anyone who travels a lot and on a whim (or at the mercy of their employer - me). And it doesn't hurt to get treated a little better at restaurants and such when they see the card (especially when you're in your 20s). My gf and I got a free round of champagnes once at Canoe just because concierge had booked the table. And I was using my points that night for the dinner.

Most importantly...service. I like being able to talk to live a person at customer service. And if you ever have a claim arising from any of their insurance programs it is processed really fast. If your flight is every delayed more than 4 hours, you just call them and they just tell you to buy lunch and thats it. The lunch is paid for and settled before you get your bill. And Flight delay insurance is upto 1000 (though I have only claimed like 70 bucks ever). They don't nickle and dime you with the claims. Notice how they handled the Apple price drop in the US for the iphone....which happened at the 93 day period for some. Amex approved most claims regardless. They considered it a reward for customer loyalty.

But really, Platinum is not even that exclusive! It's a very common sight in pretty much any financial district. I have seen half a dozen in just one stroll through the Eaton Centre.

And that is why someone would spend 4 bills a year on a cc....

[adamtheman]

I'd say AMEX Platinum is still better....

Just by putting all my regular bills on there, I get enough points that it outweighs the fee. But there are added bonuses:

1) Worldwide rental insurance for cars upto CDN 85 000 - visa does not even come close
2) Doubles warranty on purchases
3) 90 day protection for purchases
4) Fraud Prevention - they are constantly monitoring the card for unusual spending.....its kinda creepy and re-assuring at the same time. I have gotten calls on the road confirming where I am cause my hotel bill just went through.
5) Personalized Travel Service - Very handy when you travel a lot. Just give them your price range and other factors (proximity to a landmark, etc.) They book the flights, hotels, car rentals, etc. And they really are good.
6) Concierge - Try booking a table at Canoe on Friday night. Now, try getting the Concierge to do it. Never fails. Also very handy if you travel. Don't know if a restaurant is good or safe? Strange city, need a recommendation? Just give em a ring. Piss of the girl? need flowers at 11pm....call em.
7) Membership Rewards....the best plan I have ever had. The rewards are cheaper than any other plan and points are fully convertible to aeroplan.
8) Preferred rates on hotels and rentals - This is a killer service. The rental rates are on par with corporate/government rates.
9) By far the best baggage, accident, trip interruption insurance, etc.

There are some other perks which I personally have not used....a free companion ticket or an upgrade to business class on certain airlines, credits onboard cruises, business lounge access.

I only keep two credit cards. This and an Aeroclassic as my secondary. The services are useful when you wake up in a strange city. And the discounts and upgrades that the card entitles you to are also amazing. It's not a "rich people" card as some think. But at 60k minimum income, its a higher bar than most cards. This card is pretty much the gold standard for anyone who travels a lot and on a whim (or at the mercy of their employer - me). And it doesn't hurt to get treated a little better at restaurants and such when they see the card (especially when you're in your 20s). My gf and I got a free round of champagnes once at Canoe just because concierge had booked the table. And I was using my points that night for the dinner.

Most importantly...service. I like being able to talk to live a person at customer service. And if you ever have a claim arising from any of their insurance programs it is processed really fast. If your flight is every delayed more than 4 hours, you just call them and they just tell you to buy lunch and thats it. The lunch is paid for and settled before you get your bill. And Flight delay insurance is upto 1000 (though I have only claimed like 70 bucks ever). They don't nickle and dime you with the claims. Notice how they handled the Apple price drop in the US for the iphone....which happened at the 93 day period for some. Amex approved most claims regardless. They considered it a reward for customer loyalty.

But really, Platinum is not even that exclusive! It's a very common sight in pretty much any financial district. I have seen half a dozen in just one stroll through the Eaton Centre.

And that is why someone would spend 4 bills a year on a cc....

Good post.

It goes back to the old adage, "I wouldn't want to be a part of any club that would have me as a member". The Centurion is so elusive because it is rare. If everyone had it, then it wouldn't be elusive anymore. It is all one big ploy by American Express. Credit cards are definitely not the best indicator of social status either. Having a black card means ****. You need to have the armani suit, the ferrari and the generousity to back it up. If you go into a hotel and flash your black card, but then cheap out and ask for a room without a view, well, you're just another shmuck with a black card. It's really sad if you get your rocks off by going into sears and having 16 year old girls at the check out go "Oooo shiny card wow how'd you get that"..... sad indeed.

[red120]

Totally agreed. I get comments on my 2% gold amex almost every time i pull it out. If only they knew it was a card they could probably get themselves... who am I to tell?
Argh...

I get comments too.

Usually, it's "Is that a debit card?"

Sigh ><

[bubble.tea]

....[INDENT][I]
According to Snopes.com, a Web site that examines the truth of urban legends, one Centurion cardholder wanted to locate and purchase the horse ridden by Kevin Costner in the movie, "Dances with Wolves." The horse was located on a stud ranch in Mexico, purchased and delivered to Europe....
So it seems that with such exclusive CC's, you're paying the 399/499 for all the peripheral services included eh? I mean, Special Services aside., if you're an RFDer at heart, and can handle everything yourself....it would stand that you don't need these over-priced cards no?

As has been illustrated by at least two people quite clearly, their other cards are meeting the needs far better?

This card just goes to show you how much of a douchebag you are.
Quote of the day! LOL


Lastly, is it just me or is najibs far over-enthralled with this naive pursuit of 'exclusivity' in life? Dude., enough already. You post-whoring the amex 2% thread, your other silly 'exclusive' CC...and now this one? Oii...sick already.

[mr_raider]

I'd say AMEX Platinum is still better....

Just by putting all my regular bills on there, I get enough points that it outweighs the fee. But there are added bonuses:

1) Worldwide rental insurance for cars upto CDN 85 000 - visa does not even come close
2) Doubles warranty on purchases
3) 90 day protection for purchases
4) Fraud Prevention - they are constantly monitoring the card for unusual spending.....its kinda creepy and re-assuring at the same time. I have gotten calls on the road confirming where I am cause my hotel bill just went through.
5) Personalized Travel Service - Very handy when you travel a lot. Just give them your price range and other factors (proximity to a landmark, etc.) They book the flights, hotels, car rentals, etc. And they really are good.
6) Concierge - Try booking a table at Canoe on Friday night. Now, try getting the Concierge to do it. Never fails. Also very handy if you travel. Don't know if a restaurant is good or safe? Strange city, need a recommendation? Just give em a ring. Piss of the girl? need flowers at 11pm....call em.
7) Membership Rewards....the best plan I have ever had. The rewards are cheaper than any other plan and points are fully convertible to aeroplan.
8) Preferred rates on hotels and rentals - This is a killer service. The rental rates are on par with corporate/government rates.
9) By far the best baggage, accident, trip interruption insurance, etc.

My lowly RBC AVion has most of the advantages you cite, but I'm not sure about the concierge service. Nevertheless I racked up enough points to send my mom to London last year so not bad.

[najibs]

I'd say AMEX Platinum is still better....

Just by putting all my regular bills on there, I get enough points that it outweighs the fee. But there are added bonuses:

1) Worldwide rental insurance for cars upto CDN 85 000 - visa does not even come close
2) Doubles warranty on purchases
3) 90 day protection for purchases
4) Fraud Prevention - they are constantly monitoring the card for unusual spending.....its kinda creepy and re-assuring at the same time. I have gotten calls on the road confirming where I am cause my hotel bill just went through.
5) Personalized Travel Service - Very handy when you travel a lot. Just give them your price range and other factors (proximity to a landmark, etc.) They book the flights, hotels, car rentals, etc. And they really are good.
6) Concierge - Try booking a table at Canoe on Friday night. Now, try getting the Concierge to do it. Never fails. Also very handy if you travel. Don't know if a restaurant is good or safe? Strange city, need a recommendation? Just give em a ring. Piss of the girl? need flowers at 11pm....call em.
7) Membership Rewards....the best plan I have ever had. The rewards are cheaper than any other plan and points are fully convertible to aeroplan.
8) Preferred rates on hotels and rentals - This is a killer service. The rental rates are on par with corporate/government rates.
9) By far the best baggage, accident, trip interruption insurance, etc.

There are some other perks which I personally have not used....a free companion ticket or an upgrade to business class on certain airlines, credits onboard cruises, business lounge access.

I only keep two credit cards. This and an Aeroclassic as my secondary. The services are useful when you wake up in a strange city. And the discounts and upgrades that the card entitles you to are also amazing. It's not a "rich people" card as some think. But at 60k minimum income, its a higher bar than most cards. This card is pretty much the gold standard for anyone who travels a lot and on a whim (or at the mercy of their employer - me). And it doesn't hurt to get treated a little better at restaurants and such when they see the card (especially when you're in your 20s). My gf and I got a free round of champagnes once at Canoe just because concierge had booked the table. And I was using my points that night for the dinner.

Most importantly...service. I like being able to talk to live a person at customer service. And if you ever have a claim arising from any of their insurance programs it is processed really fast. If your flight is every delayed more than 4 hours, you just call them and they just tell you to buy lunch and thats it. The lunch is paid for and settled before you get your bill. And Flight delay insurance is upto 1000 (though I have only claimed like 70 bucks ever). They don't nickle and dime you with the claims. Notice how they handled the Apple price drop in the US for the iphone....which happened at the 93 day period for some. Amex approved most claims regardless. They considered it a reward for customer loyalty.

But really, Platinum is not even that exclusive! It's a very common sight in pretty much any financial district. I have seen half a dozen in just one stroll through the Eaton Centre.

And that is why someone would spend 4 bills a year on a cc....

I agree with you. I've always been a fan of the the Platinum Charge Card.

[sockboy]

suppose you spend $100,000 a year with this card. will you get a business class ticket to Europe or Asia? I don't think so. with the CIBC aerogold card, you will.

Sure you could, in fact you could get two, or one FIRST class ticket, with some points to spare! As the card offers 2 points per dollar, by spending 100k, you would get 200k points. Surely this card will offer a transfer to BA program like the Avion. Even if you don't take advantage of the annual bonus promo, you would get 200,000 BA points which is enough for two Business class tickets to Europe, or 1 First Class ticket (150k required), which Air Canada doesn't even offer.

[st7860]

Sure you could, in fact you could get two, or one FIRST class ticket, with some points to spare! As the card offers 2 points per dollar, by spending 100k, you would get 200k points. Surely this card will offer a transfer to BA program like the Avion. Even if you don't take advantage of the annual bonus promo, you would get 200,000 BA points which is enough for two Business class tickets to Europe, or 1 First Class ticket (150k required), which Air Canada doesn't even offer.

2 points per dollar ?

[sockboy]

2 points per dollar ?

Hmm . . . it looks like I might have mis-interpreted that 2% for travel rewards wrongly. It sounds like it is just 1 pt per dollar, but if you redeem for their own travel rewards you need half the points that an avion holder would need??

Not as good as I had thought if that is the case.

But, assuming that you can transfer to BA, you can still redeem for business class travel.

[NerV]

I doubt that ppl with $250k+++ income will be wasting time on RFD website, trying to save a few dollars on ice cream or hard drive.

[st7860]

I doubt that ppl with $250k+++ income will be wasting time on RFD website, trying to save a few dollars on ice cream or hard drive.

how would you know? one of the most famous posters on RFD is a pilot.

[hightech]

Any discounts if you have the American Express Black card?

[najibs]

how would you know? one of the most famous posters on RFD is a pilot.

I've yet to meet a normal airline pilot that makes over $200k, unless for some reason he's special. In the US, the older pilots close to retiring who've been with major airlines for over 30 years probably make $220k. The top ones at Air Canada make about $180k.

[jetz]

My lowly RBC AVion has most of the advantages you cite, but I'm not sure about the concierge service. Nevertheless I racked up enough points to send my mom to London last year so not bad.

That's excellent! I figure most of the fees are actually for the concierge and Personal Travel Service. The PTS is about the same as the AMEX Travel Service used by Corporate/public sector staff. Nevertheless, the little kinks in the policy do make a difference. I dont think any Visa out there offers rental coverage upto 85 000 or upto 1000 in trip interruption.

[jetz]

So it seems that with such exclusive CC's, you're paying the 399/499 for all the peripheral services included eh? I mean, Special Services aside., if you're an RFDer at heart, and can handle everything yourself....it would stand that you don't need these over-priced cards no?

I will agree with you that the fees are for the peripheral services not necessarily for the card itself. But that in and of itself says a lot. The card is not selling itself on exclusivity but on its service. Which means it has value to some users.

As for being able to handle everything by yourself.....its not that easy if your boss tells you to fly to Brussels next week to a give a brief and you've got 60 hr work weeks to go deal hunting. Company pays for the trip, fine. But if you wanna take a few days off in conjunction (true RFDer behaviour), it'll be damn hard to find good deals on such short notice. I work in a military office where guys fly to Europe and back sometimes within 48 hrs. If you are on the staff of a CEO or a general, sure you get the trips. What you don't get is his/her paycheque to enjoy the benefits. The card is just one more tool in the value toolbox. When I quit this gig and move on, I will definitely re-evaluate the cost/benefit proposition of the card.

[mr_raider]

I doubt that ppl with $250k+++ income will be wasting time on RFD website, trying to save a few dollars on ice cream or hard drive.

Many people who make that kind of money work hard for their cash and appreciate value for their dollar.

[someguy91]

I doubt that ppl with $250k+++ income will be wasting time on RFD website, trying to save a few dollars on ice cream or hard drive.

You'd be surprised. Many people who make that kind of money tend to be brutally quantitative and are very analytical with their revenue and expense streams (which is how they got to that income bracket in the first place). Some of my coworkers can tell you their monthly budget to +/-$10.. They clear 150k a year for sure. Some people in the upper ranks can get even more anal ;)

[st7860]

They clear 150k a year for sure. Some people in the upper ranks can get even more anal

that's for sure.

[Barayolayosa]

Wrong. The new TD card is an 'Infinity" card, not an "Infinite" card. Sounds similar but HUGE difference. Not even remotely similar, nor in the same league.

Sorry, but the new TD card is an "Infinite" card.

http://www.redflagdeals.com/forums/showpost.php?p=6545771&postcount=67

[Bymark]

RBC is doing it again with an Avion Infinite card... (soon to be launched).

http://www.redflagdeals.com/forums/showthread.php?p=6548307#post6548307

[Idontdomornings]

PROVE IT. Simple as that.

Amex Canada has stated that the Black card is not available to residents of Canada. It doesn't matter if you spend $1m with them. If all you have is a Canadian credit history, you won't get a black card. Simple as that. If you have a US credit history, which some Canadians do, from having LIVED in the US for a period of time, then yes you'd be able to obtain a US issued Amex Black even if you do not reside there any longer. You cannot obtain a US-issued credit card without a social security number. The Canadian SIN will not work.

My multi million$ friend is a AE platinium card chartered member, has 2 multimillion $ mansions in Florida, cannot get the Black card because he is not a US resident.

The reason I start reading this thread is because I will be spending ~ $35,000 annually on my credit card, like to know which card is the most advantageous to use? what is the 2% gold card that's been discussed here!! I now have the AE aeroplan Gold card. Thanks!!

[mr_raider]

RBC is doing it again with an Avion Infinite card... (soon to be launched).

http://www.redflagdeals.com/forums/showthread.php?p=6548307#post6548307

They ran out precious metals (silver, gold, plat), now they're into infinite space? Next card is gonna have to be the Visa extra-dimensional or the Visa Alternate Universe...

[jetz]

2 points per dollar ?

It's 1.25 Membership Rewards points/$1.

The points can be transferred to most airline frequent flyer plans, and most hotel points plans.

That being said the same rewards at Aeroplan is usually thousands of points cheaper at AMEX. And the selection of rewards are also sooo much better...with the exception of flights with aeroplan (I dont know if MR offers flights).

suppose you spend $100,000 a year with this card. will you get a business class ticket to Europe or Asia? I don't think so. with the CIBC aerogold card, you will.

The card would do you one better. First off on MR points alone (which can be transferred to aeroplan 1 for 1) you would be able to get a free business class ticket to Europe. Given that 100k in spending would get you 125k points (which transfer to Aeroplan 1 for 1), you could get a business class flight to Europe (85 000 points) and still have 40 000 points left (one business class flight in Canada or one economy class flight to the Caribbean).If you are actually paying for your ticket, you could buy a business class ticket and get another one free, or get a discount, or get upgraded for free.

https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=CompanionTickets
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=FreeUpgrade
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=SpecialAirfares

Next using the upgraded hotel status that you get (which usually you have to spend 20-25 nights at that chain to reach that status), you could get complimentary stay, free dinner and room upgrades.

https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=Hotels&hotelType=30
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=Hotels&hotelType=40

Well and that is aside from all the other benefits I mentioned before. If you spend a 100k and get only one free ticket....that's a gip!

[cannon_fodder]

I'd say AMEX Platinum is still better....

There are some other perks which I personally have not used....a free companion ticket or an upgrade to business class on certain airlines

This to me would be the only reason for me to consider the $399 fee. My CIBC Aerogold only costs me $45/year (thanks to an RFD thread where I had $75 of the fee refunded) and allows me to book first class tickets. I didn't realise that the AMEX Platinum allowed for a 1:1 transfer.

But, that's a lot of money to spend on a CC UNLESS I have to go somewhere in first class because of business - now I could bring my wf along for free.

Any recent experience on how long it takes to be approved and have the ability to start using the card?

[halflife150]

It's 1.25 Membership Rewards points/$1.

The points can be transferred to most airline frequent flyer plans, and most hotel points plans.

That being said the same rewards at Aeroplan is usually thousands of points cheaper at AMEX. And the selection of rewards are also sooo much better...with the exception of flights with aeroplan (I dont know if MR offers flights).



The card would do you one better. First off on MR points alone (which can be transferred to aeroplan 1 for 1) you would be able to get a free business class ticket to Europe. Given that 100k in spending would get you 125k points (which transfer to Aeroplan 1 for 1), you could get a business class flight to Europe (85 000 points) and still have 40 000 points left (one business class flight in Canada or one economy class flight to the Caribbean).If you are actually paying for your ticket, you could buy a business class ticket and get another one free, or get a discount, or get upgraded for free.

https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=CompanionTickets
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=FreeUpgrade
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=SpecialAirfares

Next using the upgraded hotel status that you get (which usually you have to spend 20-25 nights at that chain to reach that status), you could get complimentary stay, free dinner and room upgrades.

https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=Hotels&hotelType=30
https://www.iplatinum.americanexpress.com/prospect/canada/english/FrontServlet?request_type=Hotels&hotelType=40

Well and that is aside from all the other benefits I mentioned before. If you spend a 100k and get only one free ticket....that's a gip!

If you're going to be converting MR to Aeroplan points why not just get the Amex Plat. Aerocard. Gives you 1.25pts per spending 1st tier and 1.5pts per $ second tier.

A lot of the Amex Plat. benefits are very limited. Free upgrades on only swiss airline and free companion ticket on only a few select airlines.

[cannon_fodder]

If you're going to be converting MR to Aeroplan points why not just get the Amex Plat. Aerocard. Gives you 1.25pts per spending 1st tier and 1.5pts per $ second tier.

A lot of the Amex Plat. benefits are very limited. Free upgrades on only swiss airline and free companion ticket on only a few select airlines.

From what I can read, the Amex Plat. Aerocard is an additional $100 per year making it less palatable.

[dragontea]

My boss just got this card... ehh.. nothing special... just all black and shiny....

$399/year... better to be spent elsewhere

[adamtheman]

They ran out precious metals (silver, gold, plat), now they're into infinite space? Next card is gonna have to be the Visa extra-dimensional or the Visa Alternate Universe...

I always assumed Diamond was the next natural step. They missed the boat!

[Inquisition]

I recieved my offer in the mail for this offer.
I am suprised at how much "prestige it" comes with.

The thing is Ive had the Visa Platinum Avion Card, and have never held a balance on any credit card. I am only 23 and hold a very secure career in advertising.

Through the platinum card i have already recieved so much points through my purchases. I do see it as a status symbol. I pay $126 a year for the Platinum card, and as per RBC's offer to me it will not change. I have not recieved the card, it says i have to wait till August.

What i like most about the upgrade is that i have travel insurance for 15 days. As well as a Personal Concierge Service to do my bidding =)

I dunno how i got invited to this card, but im quite giddy about it, and maybe that makes me a douchebag but then again im only 23..

[Potsman]

I always assumed Diamond was the next natural step. They missed the boat!

Lets see.. Regular, Gold, Platinum... Maybe it's black to represent Crude Oil:cheesygri

[pmc]

another "mine is bigger than yours" evolutionary thread :)

each institution has their own "prestige" plastic, real rich people hardly speak about their finances, they let the "wanaabees" do that :lol:

[ronny1980]

AFAIK, applying for new credit cards may take a hit to your credit score. What about upgrading your credit card?

I have a regular Visa Classic with CIBC which I want to upgrade to a rewards card, would it affect my credit score in any way?

[st7860]

if you're an average working person who pays his or her bills on time, applying for credit does almost NOTHING except drop your score by an insignificant amount of points.

[TheCheez]

CIBC is really good about changing your card to another of their products though. I've switched a few times myself.

The only catch might be if you choose Aerogold you would have to cancel and re-apply to get the 15 000 bonus miles I believe.

[deal_king]

If anyone here wants a Black Card (AKA Centurion Card), I might have a deal to make with you.

The fee is $5000 setup fee + $2500 annual fee for the first card + $1500/year for each additional card.

I'm living in Montreal, but I'm eligible for the card as I've spent over $340,000 on my US-based Amex in the last 8 months. I'm not really interested in any of the amenities of the card (I rarely travel and I don't stay in fancy places).

But I can issue a card to anyone as an "additional card". If anyone here wants to pay the $9000 for the first year and $4000/annually (for my card and your card), then I might be open to it. We'd have to find a safe no-risk way to do it- so that you don't spend everything on your card and then leave me with the bill...!

The black card is a charge card so it has to be paid off at the end of every month.

Serious inquiries only please. You need to be a high spender already-and with an excellent credit record.

[skyc280]

I recieved my offer in the mail for this offer.
I am suprised at how much "prestige it" comes with.

The thing is Ive had the Visa Platinum Avion Card, and have never held a balance on any credit card. I am only 23 and hold a very secure career in advertising.

Through the platinum card i have already recieved so much points through my purchases. I do see it as a status symbol. I pay $126 a year for the Platinum card, and as per RBC's offer to me it will not change. I have not recieved the card, it says i have to wait till August.

What i like most about the upgrade is that i have travel insurance for 15 days. As well as a Personal Concierge Service to do my bidding =)

I dunno how i got invited to this card, but im quite giddy about it, and maybe that makes me a douchebag but then again im only 23..

i "think" you are talking about RBC AVION Visa Infinite. That is a different card than what is being discussed here. However, if you do get the invite for the one that is discussed here, that's even better!

[Inquisition]

Ahh gotcha!.. way to go! i dont feel so special anymore haha. So the Avion label degrades the prestige eh..

doh

[Ron]

I dont think any Visa out there offers rental coverage upto 85 000 or upto 1000 in trip interruption.

My Scotiabank visa has $2,500 for trip cancellation/interruption. Last time I checked, the max value of the car was 65k, which isn't bad.

[Synapses]

Does a "prestigious" credit card even have any brag value? Who besides RFDers is going to care about something like that?

[floe]

td emerald 4 life !@!#@#

[angel_wing0]

td emerald 4 life !@!#@#

try td infinite card ;)

[najibs]

the other day, one of my clients, I noticed paid with his RBC Infinite card. It wasn't the Avion Infinite, it was the prestigious, RBC Private Banking Infinite card. It's just an all black card, with an RBC logo on the top left, in Gold writing, and it says Infinite in the middle. Nothing else. First time I've ever seen one.

I've seen lots of TD Infinite, CIBC Aerogold Infinite, and over the coming months I'm sure I'll see the RBC Avion Infinite, when it starts to come out next month, but this RBC Private Banking Infinite was a rare one.

[coolspot]

Prestigious credit cards :rolleyes:

My thoughts exactly.

[angel_wing0]

^ i dont get it?

[MoreMiles]

The most prestigious people use cash... they don't need to borrow money... that is what "credit" card is. So a prestigious credit card is simply an oxymoron.

[coolspot]

^ i dont get it?

Credit Cards are money makers for financial institutions; they're hardly a status symbol except for the nouveau riche (hint: it's tacky to flash a CC around).

[ryder_ca]

The most prestigious people use cash... they don't need to borrow money... that is what "credit" card is. So a prestigious credit card is simply an oxymoron.


in todays world.. not many "prestigious" ppl make large purchases at the store with cash. personally, i swipe my card and go, and payoff my visa.

[eliteblaze2]

paying with cash makes no sense. That's a clear indicator you don't have credit or you're a underworld figure if you're swinging around with a ton of bills

[angel_wing0]

in todays world.. not many "prestigious" ppl make large purchases at the store with cash. personally, i swipe my card and go, and payoff my visa.

i couldnt agree more. A credit card is a status symbol if u have a really rare one.

[coolspot]

paying with cash makes no sense. That's a clear indicator you don't have credit or you're a underworld figure if you're swinging around with a ton of bills

For example, buying a car with the cash price is much better than via financing/lease.

But in general, a CC is nothing special - it's just something you use to pay for purchases :)

[st7860]

paying with cash makes no sense. That's a clear indicator you don't have credit or you're a underworld figure if you're swinging around with a ton of bills

i hereby and solemly declare +1

[the_unknown]

The idea of a prestige credit card is nonsense, it's not like it gets you any better service. I have the RBC Private Banking Infinite card and it doesn't do anything for me. Do I get discounts when I shop? No. Does it get me better service? No. The concierge has been quite useless might I add. The thing I don't like about these Infinite cards is the higher % charge to the merchant will just encourage them to jack up prices as everybody gets one of these cards.

[najibs]

Wow I did not know hookers accepted your Credit Card - man you must be some sort of wholesaler with the volume of business you provide to them.

If you're rich, you don't buy hookers on the street corner, you pay for top end escort services, and they DO take credit card.

Go back to Church & Wellesley and use your thick wad of cash to get yourself a good hooker deal, cuz you're right, she aint gonna take your plastic! :twisted:

[st7860]

credit cards are useful to fill up your dreamliner

[angel_wing0]

The thing I don't like about these Infinite cards is the higher % charge to the merchant will just encourage them to jack up prices as everybody gets one of these cards.

well not everyone earns 60k+ a year...thou i do see quite alot of td infinite cards for the past month.


If you're rich, you don't buy hookers on the street corner, you pay for top end escort services, and they DO take credit card.

Go back to Church & Wellesley and use your thick wad of cash to get yourself a good hooker deal, cuz you're right, she aint gonna take your plastic! :twisted:

nicely said. :D

[st7860]

I wonder if anyone believes this guy - lol

"I am eligible for the Centurion card (spent $384K) and have even been called by the Amex Executive Office. But the fees are not worthwhile to me because I rarely travel or stay in hotels. Here is the deal I can offer:"

[CSK'sMom]

The idea of a prestige credit card is nonsense, it's not like it gets you any better service. I have the RBC Private Banking Infinite card and it doesn't do anything for me. Do I get discounts when I shop? No. Does it get me better service? No. The concierge has been quite useless might I add. The thing I don't like about these Infinite cards is the higher % charge to the merchant will just encourage them to jack up prices as everybody gets one of these cards.


Bingo! Global News just did a story on this the other day. Many retailers are no refusing to accept Avion and Infinite cards now because they are being charged a higher merchant fee on these premium cards. The Global story is online in the Consumer SOS section of the website....

[st7860]

Bingo! Global News just did a story on this the other day. Many retailers are no refusing to accept Avion and Infinite cards now because they are being charged a higher merchant fee on these premium cards. The Global story is online in the Consumer SOS section of the website....

those stores should have their merchant accounts barred for pulling a stunt like that as part of the conditions of accepting Visa and Mastercards is to accept EVERY valid card.

[deal_king]

I wonder if anyone believes this guy - lol

It's real-I even wrote about it in my blog. http://for idic.blogspot.com Take out the space between the "for" and "idic". I don't want it to get picked up by the search engines.

I spent the money for business. I'm in Montreal... But for anyone who is interested, it is the ultimate deal if you fly often. It gives you Platinum status with the major airlines-- You can buy a regular economy flight off the web for $400 and be upgraded to a $3000 first class ticket for free.

[CSK'sMom]

those stores should have their merchant accounts barred for pulling a stunt like that as part of the conditions of accepting Visa and Mastercards is to accept EVERY valid card.

The merchants know that and also know it's a measly $5k fine. They feel they are being gouged by the higher merchant fees for these cards and can easily come out ahead if they are fined. The big beef in the Global story is that many consumers have been upgraded to these types of cards unknowingly by banks. Merchants are saying that when they were truely an elite type of card they could afford to take the hit but now that the branded cards are a dime a dozen they cannot afford to accept them anylonger...

[st7860]

accepting a credit card is part of the cost of doing business

[angel_wing0]

i know i wont...not worth it.

[deal_king]

and i though running a $2 lotto pool was risky. What you're proposing is downright nuts.

Who on RFD is going to drop $9000 for this card?

LOL! I know--probably the wrong place to post this- bc people who can afford to drop $9K probably won't come here. But I spend $9K and I still come here because I'm a dealseeker at heart. :P It's still a great deal- but only if you can afford the "cost of entry" and if you travel.

[deal_king]

speaking of travel... I just saw an awesome video on Youtube of this guy who traveled to like 46 different countries and was filmed doing his special dance- it was really one of the best videos I've ever seen on Youtube:

http://www.youtube.com/watch?v=zlfKdbWwruY

Sorry for the tangent- but couldn't resist sharing!

[Rishi]

and i though running a $2 lotto pool was risky. What you're proposing is downright nuts.

Who on RFD is going to drop $9000 for this card?
The risk is on the primary cardholder, as they will be responsible for paying the bill. The arrangement that deal_king is suggesting is absurd unless it is backed up by some ironclad paperwork.

[chris103610]

Why do smart, rich people pay such ridiculous annual fees for credit cards? I mean you don't get rich by paying $2500/year so that a bank or credit card company can profit off you.

the point you're missing is...
Why do people buy a $120k S-Class or 7 series or aston Martin?

i mean a $50k sedan should suffice, even a $20k honda.
It's all about prestige, obviously paying a little extra a year (2500 a year seems pretty nominal to these people) so the benefits obviously outway the costs. therefore they use the BLACK card and love the feeling of people seeing them own and use the BLACK card.

[chris103610]

PROVE IT. Simple as that.

Amex Canada has stated that the Black card is not available to residents of Canada. It doesn't matter if you spend $1m with them. If all you have is a Canadian credit history, you won't get a black card. Simple as that. If you have a US credit history, which some Canadians do, from having LIVED in the US for a period of time, then yes you'd be able to obtain a US issued Amex Black even if you do not reside there any longer. You cannot obtain a US-issued credit card without a social security number. The Canadian SIN will not work.

How do you know this? you a merely just stating an assumption?
have you called amex and asked them?
before it was only invite only. now you can apply for it.

so YOU PROVE IT! you should be also obligated to prove that this is so and that canadians cannot get the card.

RFD's should all know that just because something say's out of stock or not available doesn't mean it is. policy's are meant to be broken. that's life

[st7860]

you can get a Nordstrom Visa card with a Canadian SIN,with a Canadian mailing address.

[chris103610]

well not everyone earns 60k+ a year...thou i do see quite alot of td infinite cards for the past month.


nicely said. :D

I don't think the TD infinite card is very prestigious? i personally have one.
I'm 20 years old and i'm a student.
it was pretty easy to apply for it. and i got it.. so the TD card is a joke. IMO.

ps. the concierge service is kind of a joke. they don't look for the best deal for you. i wanted to go to a canucks game, and the guy looked at his screen and said he could "hook me up" <-- no joke with 2 seats for $500.

umm no thanks. craigslist is cheaper.

[st7860]

you can get an infinite card if you have a credit history thats reasonably decent. just put 60,000 on the application

[dantheman__4]

I don't think the TD infinite card is very prestigious? i personally have one.
I'm 20 years old and i'm a student.
it was pretty easy to apply for it. and i got it.. so the TD card is a joke. IMO.

ps. the concierge service is kind of a joke. they don't look for the best deal for you. i wanted to go to a canucks game, and the guy looked at his screen and said he could "hook me up" <-- no joke with 2 seats for $500.

umm no thanks. craigslist is cheaper.

True.

But,

People who really "need' an Infinite card aren't on Craigslist...

[angel_wing0]

I don't think the TD infinite card is very prestigious? i personally have one.

true i do agree.

[chris103610]

from a few people that work at various bars in vancouver whom i know.
they told me they've seen a few black cards!!!
which is pretty cool imo.

but they also said they feel different. like not plastic? they feel harder and seem heavier? is this true.

i also heard rumours that they are titanium or something? does that seem reasonable?

[monty613]

i also heard rumours that they are titanium or something? does that seem reasonable?

yes. the primary cardholder gets a titanium card.

[master_ace]

http://www.luxuryplastic.com/centurion-card-launched-in-canada/

Forgive me if everyone already knows this - I was just looking up some credit cards and I saw this!

The Centurion is here! :D

Now next step is working to meeting the req's for one lol ^^

[brunes]

Why do smart, rich people pay such ridiculous annual fees for credit cards? I mean you don't get rich by paying $2500/year so that a bank or credit card company can profit off you.

You don't get rich by saving a measely $2500 / year either.

The very rich get so in one of two ways - inheritance/dumb luck, or a COMBINATION of intelligence, hard work and dumb luck.

Hard work and intelligence alone is not enough to make you rich, you need the third component, being in the right place at the right time.

[master_ace]

You don't get rich by saving a measely $2500 / year either.

The very rich get so in one of two ways - inheritance/dumb luck, or a COMBINATION of intelligence, hard work and dumb luck.

Hard work and intelligence alone is not enough to make you rich, you need the third component, being in the right place at the right time.

I agree that luck is certainly a factor in the equation. To put it less bluntly, it's about taking advantage of an opportunity. However, if you are NOT intelligent and NOT hardworking, you probably won't have the capability to take advantage of an opportunity even if it was presented to you.