I received a credit card offer for a black level credit card, whatever that is, and a $495 annual fee. Not a typo. $495 a year for the pleasure of using their card. NO cash back, but apparently it comes with some sort of VIP treatment and the card is made of stainless steel. I was laughing pretty hard as the important bits went to the shredder pile.
I saw the "inventor" of that card on the business news! The card name started with an M, but I forget exactly what it was.
He was touting the positives of the card, saying it opens doors, etc., etc., etc. It isn't even a credit card in the traditional sense; rather,
it partners with your existing credit card but strengths it. It includes invitations to parties and events (not free parties, mind you). He also said its target audience is the Millennial crowd,
a group who expects more from a card, and he says that older people "won't get the appeal". He claims that although the card is new, some 200+ people a day are applying.
We found it amusing, so we even looked it up online. The website was ridiculous! They describe "creating your one-of-a-kind card from stainless steel". Well, duh. Every card in my wallet was "created" for me when they stamped my name on it. So is all the junk mail I toss unopened every day.
I agreed with one thing: I did not understand the appeal. When I mentioned it to my 20-year old, she didn't get it either.