About the Author

Ellen Cannon is editorial director of CardRatings.com. She has covered personal finance for nearly 20 years at Bloomberg and at Bankrate.com, where she specialized in credit cards.
 

By: Ellen Cannon

You probably think the holders of the very best credit cards, such as the American Express Centurion (the "black card"), are all celebrities. But that may not be the typical Centurion member. Perhaps a better example is Taysha Valez, the 29-year-old founder of myTAY PCS, a mobile phone and Internet company. Valez lives in Hawaii and New Jersey. We chatted with her  to find out how she uses the infamous credit card.

IN HER WORDS

EC: How did you get invited to be a Centurion member?

TV: The invite was the same [for business and personal]. You must be a current AmEx card holder and spend a minimum of $250K in one calendar year. In 1999 our [business] spending was well over $250K a month on the card. I have never personally had a Platinum AmEx card. So the myth that you must have a Platinum card in order to be invited is not true. I am not sure if that has changed since, but in my experience it's not true.

EC: Is this Centurion card related to business or personal use?

TV: Both. My first one was related to business use. I've had my own business since I was 15. At that time I was a cardholder on my parents' AmEx account. Then by 18 I had a personal Gold card, and I would send American Express a check covering my expenses at the beginning of the month so that they would raise my limit. I went from Gold to Black by 19.

My current card is Personal. Most of my expenses on my personal card are still associated with my business because my business and personal life overlap. Being the "Princess of Pricey" is a pricey gig. I personally pamper my clients, friends, and family without a write-off.

EC: Does having the card make you feel special or different? Do you feel part of an elite club?

TV: I feel different and special at the same time. And yes, I do feel a part of an elite club. It's a blessing to be able to afford to pay the dang bill every month! LOL All from my hard work, you know--do what I love to do, not what I have to do. So that's the club, that's where the specialness comes from.

Everyone I know who has the card is an entrepreneur. We all had a vision, went after it, took the risk, and delivered, and are handsomely rewarded for believing in ourselves and seeing our visions through to success. The Centurion card represents that. Hard work pays off. Anything is attainable. The card represents a limitless life. And I love that!

EC: Tell us about your business.

TV: myTAY PCS is beauty, tech and telecom. In a nutshell we handle everything that has to do with the Internet and mobile. myTAY.tv, myTAYISP, myTAY.com, myTAY.in, GildedGosSIP.com, myTAY.mobi , myTAY.biz and ShopMrCruz.com--we power about 30 different niche social recommender communities. We're family-owned and homegrown.

Our core client is 24-34, women, no children, and graduate school-educated. myTAY PCS is the only telecom that caters to activating and servicing high-fashion phones. Most of our clients are lovers of fashion and shopping. It's almost a sport for them, and we provide the services to keep them connected at all times. More than a few of our clients are Centurion card holders from around the globe.

EC: What is the most you've charged on the card in one month's time?

TV: The most was about $930K and it was for a home-decorating project that went way over budget. LOL But it was worth it. Gilded mirrors and antique washbowls and Swarovski crystal-lined whirlpool baths add up!

EC: Do you consider yourself wealthy?

TV: Yes, but not because of the card. Because wealth is an abundance of health, affording yourself options of all sorts, and having an abundance of love and joy in your life. So yes, I consider myself extremely wealthy and extremely blessed.