American Express Black Card

Those of our readers who spend more than $1,500,000 annually on their American Express card probably already have an Amex Black Card. Holders of this card are entitled to a 24-hour concierge service. For an annual fee of $1000, cardholders may shop after hours at selected retailers, such as Harry Winston, obtain scarce tickets to hit musicals or basketball games. The card, which was launched about three years ago, has encouraged a number of competitors, but the market is rather slim.

Separately, American Express recently announced a 15 percent increase in its quarterly net income from the same third quarter of last year. However, at the firm's Travel Related Services, net income fell 11 percent to $467 million. According to the release from Amex, earnings were depressed by "by declines in travel commissions and fees, discount revenue, and other revenue, reflecting weak economic conditions despite wider net interest yield and loan balance growth.