American Express Centurion “Black” Card Lawsuit: Charged $1 Million and Walked Away

Posted on October 5, 2023 // 8 Comments
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Forget trying to grab a few credit card bonuses and maximizing your cash back, an Florida ophthalmologist allegedly decided to go much bigger. According to BocaNewsNow.com, American Express is suing Ronald Glatzer for an unpaid $934,455.92 balance (now over $936,247.66 with interest and fees) on his American Express Centurion Card. 😳

This handily beats out all of the other ~$50,000 to ~$300,000 AmEx lawsuits that I’ve read about, from Lil Wayne to Iggy Azalea to Charlie Sheen.

In Florida, if a creditor files a lawsuit and obtains a judgment in court, they can garnish your wages to pay back your credit card debt. Unless he files for bankruptcy, I’m not sure what the endgame will be.

Also known as the “AmEx Black Card”, this famous invitation-only card is known for requiring at least $250,000 in annual purchases and/or a $1 million in annual income. If approved, you still have to pay a $10,000 initiation fee and a $5,000 annual fee. Of course, it is also known for not having a hard credit limit… I wonder if he redeemed his Membership Rewards points first before walking away?

Filed Under: Credit Cards, Funny //
Last updated: August 23, 2024
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Comments

  1. Bill Hobensack says
    October 6, 2023 at 12:50 pm

    I wonder if he loaded up on gold bars from Costco?

    Reply
  2. Bounty Hunter says
    October 7, 2023 at 4:40 am

    Costco does not accept Amex

    Reply
  3. KBL says
    October 7, 2023 at 11:43 am

    The bank knows the risks… and as an Amex shareholder I’m not happy to see such articles.

    Reply
  4. Jake says
    October 7, 2023 at 12:28 pm

    Costco doesn’t take AmEx

    Reply
  5. Jim says
    October 7, 2023 at 5:40 pm

    Stock and options trading gone wrong??

    Reply
  6. Edwin Yap Co says
    October 7, 2023 at 9:13 pm

    Amex annual fee is very expensive but the food in centurion lounges is really garbage. When you book ticket on amex service the tickets and hotels are more expensive than AGODA. Amex is really fooling people. And a lot of stores don’t accept amex card.

    Reply
  7. Keo says
    October 8, 2023 at 11:49 pm

    I agree, been there lounge by for quench my thirsty at the vegas convention ctr, they handed me a tap water in a plastic cup.

    Reply

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