Before Barclay's introduced their Visa Black Card, American Express had the industry's most popular credit card with their version of the Black Card, the Centurion Card. AMEX didn't introduce their card until 1999, but for decades previous, rumors were all over about a mysterious black credit card with insane spending power.

Some speculate that AMEX actually got their idea for Centurion from the urban legends floating around. AMEX's Centurion is a widely sought after card, with markets in Europe, Canada, Australia, Japan and the US.

Like Visa, Centurion requirements are strict. Not only is this card exclusive, but it's also expensive. Just to own the card will cost an annual fee of $2,500, with an initiation fee of 5 grand. Not to mention the spending requirements and other credit requirements to even be considered for the AMEX Centurion.

For starters, a minimum spending number of $250,000 in a 12 month period is required to be considered for a Centurion. Applicants must also have an extremely clean credit history. Any late payments or non-payment will surely result in a declined bid.

Security features of the AMEX are unparalleled. Don't think that you can simply show a Centurion at the counter and make a purchase. Having ID on your person is a strict requirement in order to spend with this card. There's also a unique feature of the card that also shows up under a unique spectrum of light.

If you hold the card under a black light, you'll see the acronym “AMEX” glow. This is a feature, much like on US currency, which cannot be duplicated by counterfeiters. It also gives the card a unique sense of style that many other credit cards don't have.

The AMEX Centurion has a long list of personal benefits for its members. Two of the best features-which, when they were introduced, were original ideas of AMEX-are the dedicated concierge service and the travel agent. The concierge service is available to Centurion cardholders 24-7, and the travel agent will take care of all travel plans either in advance or on a whim.

Other benefits include complimentary companion airplane tickets for international flights, person shoppers at high-end retailers like Gucci and Escada, access to VIP clubs, and a free night's stay at any Mandarin Oriental hotel with the purchase of a night. Centurion's hotel benefits also extend to the Ritz-Carlton and other popular locations.

AMEX was the center of some controversy a few years ago when their rates went up threefold. Even though the Centurion benefits were ultimately upgraded, and other perks were put in place to sweeten the pot, loyal cardholders were revolting at the increased interest rates and annual fees.

The Centurion is known as one of the most expensive cards to own, and its credit limit varies depending on financial factors of the cardholder, but usually starts at over a million USD.

The Centurion from AMEX isn't a card for everyone. With its sky-high fees and fluctuating percentage rates, only the top few percent of all earners and spenders will be able to comfortably enjoy the card's benefits.