In these perhaps much cost conscious times, overt signs of wealth could be frowned upon? But for some, aspiring to the well-heeled celebrity lifestyle of the very rich and famous means ownership of an original Amex Black card.

This isn’t you’re everyday credit card and most of us will never become account holders. But for those that do, here’s some of the including perks:

1. Top seats at space related events, plus credit for any future space flight reservations (a la Virgin Galactic)
2. Private after-hours previews at top designer stores including Gucci and Armani.
3. Pick your own credit card limit. Spending sprees of more than £1m in a single transaction have been known.
4. Free cabin upgrades on cruises, plus a £1000 credit for the mini-bar.
5. Insurance cover of £25,000 for lost or damaged items bought on the Amex Black.
6. It’s actually made of platinum – so it’ll trigger the metal detectors at the airport
7. Concierge service to organise tickets, bookings, etc for you.
8. It’s delivered by security guard and is presented in a black, velvet lined box.
9. £1.75m life insurance cover.
10. A dedicated Amex Black phone line, giving you access to medical, legal and financial advice.

Here in the UK we’ve been using credit cards since 1967 when the Barclaycard was first introduced. But the history of the credit card goes back much further than that…

1887 The idea of a card used for purchases appears in Edward Eellamy’s novel Looking Backward

1920s Credit cards were used in the US to sell petrol to the increasing number of car owners

1951 Diners Club card was introduced, initially for use at just 28 Manhattan restaurants and nightclubs.

1958 Bank of America introduces a card that eventually becomes the Visa card.

1966 Fourteen US banks form the Interlink card payment processor – this eventually becomes Mastercard

1967 The first card outside the US is introduced – otherwise known as Barclaycard

1972 RBS, Natwest, Lloyds and Midland Bank cobime to issue the Access credit card.

1987 Debit cards become available as the Connect Visa Delta card is issued by Barclays.

1997 Cashback arrives courtesy of A&L

1999 Half of all UK adults hold at least one credit card

2003 Now it’s two credit card accounts per adult.

2004 Chip and Pin is rolled out

2006 Total number of credit cards in circulation drops for first time

2008 There’s a worldwide collapse in the banking system, partly due to the proliferation of toxic personal debt.

2009 As bank base rates fall to the lowest in decades, some credit card companies increase their typical APR % rates.

Source: The Telegraph.