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Monday, 1 July, 2002, 09:10 GMT 10:10 UK
Credit in the black
Classy! That's a champagne bucket in the background
![]() Cash, of course, is just gauche. But in terms of plastic, the colour of serious money is neither gold, nor platinum, but black.
It follows American Express's Centurion charge card - a piece of black plastic with such snob value that you can't just apply for it - far too try hard. Rather, you must wait to be invited. Later this year, Barclaycard is planning to muscle in on this prized market with its own exclusive black credit card. Fool's gold? Not long ago platinum - and before that gold - was the last word in seriously sought-after plastic.
Take Lloyds TSB's Asset brand credit cards. Its gold card is available to anyone earning £12,000 a year, the platinum to those taking home a salary of £15,000. The difference between these and the bank's standard credit card is marginal - they offer slightly better interest levels and some travel insurance perks. Status symbol Nevertheless, it seems everyone wants the cachet of a "premium" card. Last year alone, the issue of platinum cards went up 55%, according to the Association for Payment Clearing Services.
American Express was one of the first to establish a plastic pecking order, introducing its gold card to the UK in 1980. Its platinum version, designed for "today's busy professional and frequent traveller" came 11 years later. The company has clearly been rattled by the dilution of these marques, and news of NatWest's new black card provokes a sniffy response. Better by design? "Any card issuer can produce a black piece of plastic," says vice president Debra Davies.
The company boasts of a waiting list for its Centurion card, which comes with a lavish range of personal services including 24-hour access to a team of "dedicated experts" who can provide specialist "help and advice in all areas of entertainment, travel and finance". But even the Centurion card can be topped in the exclusivity stakes by Mastercard's Signia, which is issued in the UK only by Coutts & Co, bankers to the Queen. Credit where it's undue It too comes with a 24-hour "concierge service" that will fix just about any task you throw at them, says Paul Lucraft.
But to have one of these in your wallet you'll need to earn at least £20,000 a month, advises Mr Lucraft. "It's the sort of credit card for people who have the money but don't want to carry it around. It's a credit card for people who don't need credit."
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