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I've had one since about 2005. While the requirements may have changed, when I got mine the requirement was that you were a Platinum card member for at least one year and that you charged more than $50K per month during that time. I have several friends that also have them and the most common way to hit the spending numbers is through charging business expenses on the card because $50K per month is a pretty hefty monthly number for just personal expenses. They did ask for my net worth after they invited me and did pull my credit as part of process but I don't know how much that factors in to their decision. I do know the invite is based on spending history on the Platinum card, not how much money you have in the bank. If you charge big numbers consistently and pay your bill you'll probably get an invite.

The card is anodized titanium.

The fee is $5000 up front and of the half a dozen people I know with them the fee was never waived. I can't remember the annual but $2500 for the cardholder and $1500 for each additional sounds right. My wife has one as well. If you're sweating the fees, it probably isn't the right card for you. At an average net worth of $16M, the average cardholder is making more than $500K a year in after tax dividend income alone, plus their average salary is $1.3M. $4000 a year is a rounding error for someone with that balance sheet and income statement.

The main benefit from my POV is travel. You get platinum status on Delta, gold on continental, platinum on US Air and some status on Virgin which I never fly. So you always get the first class/status line through security. If you buy a business or first class ticket, you get a second ticket for a companion for free. You also get a card called Priority Pass which let's you into almost any airport lounge in the world. You get Starwood gold, Marriott silver, Hyatt and Hilton I think. You also get Hertz gold and the Avis equivalent plus a Centurian discount code that gives you upgrades and a 20% rate discount. The card also includes full coverage rental insurance so you can decline the rental car company insurance. They also have a hotel program where if you book through amex you often get $100 hotel or spa credit or free airport transportation, etc. The credits vary from hotel to hotel. The hotels in the program are all high end. For example you get upgraded to the highest room available at any Ritz Carlton. I've been given the presidential suite several times and always upgraded to a suite on the club floor.

Most importantly you get a dedicated travel agent that has your passport, all your loyalty program numbers and preferences on file. When I need to make complex reservations I call her, I'm rarely on hold, and she calls me back with all my options. No time wasted searching Kayak. Plus, once I was in Europe and all the flights, including mine, were getting cancelled. I called bc and while everyone else was waiting in line for the airline people bc got me on the next flight. The card also includes roadside assistance and international emergency health insurance in case you are injured oversees. I had a friend who's wife injured her leg in an accident in India and they put her on a private medical jet back to the USA under the insurance. They also keep a register of my other credit cards, membership cards, etc, and if I ever lose my wallet, I just call them and they cancel everything and handle getting my cards replaced. They have preferred programs with several jet and yacht charters as well, although I've never booked a jet through them.

You also get a dedicated concierge that handles restaurant reservations. They have seats reserved at some restaurants but they tend to be really popular places. Many times they have been unable to get me a table last minute at really hot, lessor known restaurants in LA. I've heard it's better in NYC but my experience is hit and miss. My concierge handles things like buying the new iPhone so I don't have to deal with it or sending people birthday presents on my behalf. My friends wife saw a limited edition handbag in a magazine, sent it to his concierge and they tracked one down for her. I have used them many times for hard to get concert tickets or front row Lakers tickets as my season tickets are about 20 rows up. They almost always get the tickets but you pay up for them.

There are probably a few other perks I'm forgetting but the main ones are travel and shopping. That's the upshot. Between first class upgrades, hotel upgrades, access to airport lounges and the rental car discounts I figure I probably do get an ROI on the fees. But I would never take the time to add it up.

I have 2 BMWs, a DBS and I have no interest in a Rav4 . I wouldn't even rent one. Maybe there is something to the Hundai if it is attracting so many buyers that can drive whatever they want and I think that's the whole point of their marketing exercise.