One of the most common items you’ll find in any wallet today is a credit card.Most of us grew up in households that strongly cautioned the use of these, but we were never told about a Charge Card which is the more astute sibling in the credit card family.

A charge Card typically has no preset limit, so the owner can spend as much as they want ( within reason). The only condition is when your monthly bill is produced, you are obligated to pay the balance in full each month. As a result, there will be no interest charged on this card, but there tends to be an annual card membership fee payable.

The most notorious charge card is the American Express Centurion other wise known as the ‘Black Card’ which you can only acquire by invitation. It’s rumoured that you have to spend up to $450K a year on a current Amex card, or have annual income of c.$1m to be considered. There is an initiating fee of c.$10K and an annual fee of .c$5K. Once you’ve passed all the above hurdles then this card will literally open the door to anything money can buy… as long as you pay your bill in full.