If you have to ask... More on reddit.com

What sort of rewards and benefits does it offer apart from the dubious cachet of taking it out of your wallet? EDIT: Further investigation shows that there is a $5,000 initiation fee (one time), and annual fees of $2,500. There is no pre-set spending ceiling, but one must charge at least $250,000 a year. It comes with bonus points for dollars spent as well as fancy concierge features. And it's made of anodized titanium instead of plastic. More on reddit.com

It makes sense. The US has a population of 350m, housing ~40% of the world's millionaires. In order to keep the card exclusive in the US, Amex must increase the spending limits. If not, too many people would qualify. More on reddit.com

Amateur Financial expert here, a couple of facts about the card itself. 1 - The American Express Centurion card AKA the Black card is invite only. However, you can request consideration, but 9 times out of 10, it has to be through invite only, and your credit score has to be INSANELY good we are talking 800 or higher (850 is the highest credit score a person can have) Amex is extremely picky when it comes to the selection process. Even folks with very high and excellent credit scores and squeaky clean financial histories have been denied. 2 - There is a $10,000 initiation fee for the card once invited. This card is pretty much reserved for the ultra wealthy (I have only ever met one person who actually has this card). Once activated, there is also a required annual fee of about $5,000. You also have to spend over $200,000 a year with this card to be considered for continued eligibility. (Again, this card is pretty much for the ultra wealthy) unless you have big money in the bank stick with a standard credit card. 3 - The perks to this card are insane. We are talking exclusive access to the world's finest hotels, restaurants, airports, etc. For example, this card gets you access to Hilton Hotels Diamond Status, which pretty much makes you a celebrity everything you walk into a hotel owned and operated by Hilton. Everything from suite upgrades to enhanced earnings on paid stays. You also receive exclusive access to private airport lounges, especially Delta Airlines, who gives you the Platinum Medallion status, a very exclusive and private special members only status. All together, a very prestigious card to own, and if you happen to own one that really really shows your financial status, however I highly doubt there is a single person on reddit who owns one. More on reddit.com