American Express

The richest American Express cardholders (who hold the Centurion or black card) are about to find the process of negotiating for cars a lot easier. Privileged members will now be able to negotiate the price of a car through an AMEX website without even having reveal personal information online, according to the New York Times.  Wow, imagine not having to deal with the stress of haggling with the car dealer!

Out of curiosity, I went to check out some of the best perks offered by the black card. Here is a list of them:

• Automatic upgrades in several airlines to business or first class
• A 24/7 personal concierge who will do all your bookings and find that elusive bag that seems to be sold out everywhere
• Personal shoppers at high-end department stores and extended shopping hours if you need more time
• Instant hotel upgrades and late check out times
• A complimentary air ticket for your partner on certain international flights if you buy a full priced ticket
• Travel expert who will do all the bookings for you, find the best deals, and negotiate the best travel perks on your behalf

I know that these are credit card benefits that aren't realistic for most. After all, few can afford spending at least $250,000 a year. I'm wondering, if anything were possible (fees and spending minimums aside), what kind of credit card perk would you love to have?

The Goldman Sachs and Stephen Colbert debacle reached a high Tuesday night when Colbert received a letter from the lawyers at the bank. Here's a refresher of the drama: one of Colbert's staff found the credit card of Buckley T. Ratchford, a partner at Goldman Sachs, which the comedian used to try and blackmail Ratchford to come on his show by threatening to reveal a digit of his credit card number every night. This is part of his effort to get someone from one of the big banks to come onto his show to talk about Wall Street and bonuses, something that Colbert has been trying to do, but with no success.

One of the funny highlights of the show was when Colbert reveals the first number of the card, a five, to which he says, "That's a good number. Indicates a high credit limit." Obviously it was a joke, but this made me wonder what what the first number of a credit card actually means. I found the answer on HowStuffWorks:

• 3: Travel or entertainment cards, like American Express and Diners club.
  
• 4: Visa, including Visa-branded debit and cash cards.
• 5: Mastercard and Mastercard-branded cards.
  
• 6: Discover card.

To satisfy your curiosity about what the rest of the digits mean, read on!

Mr. Shue is teaming up with Members Project from American Express to rally the Gleeks and help make the world a better place. He will be suggesting cool ways for everyone to get involved.

Of course, Sue is doing her part too — sneakily plotting to thwart Shue's feel-good fun.

Don't be a Sue. Do something good instead, and learn about how you and a friend could volunteer with members of the cast of Glee. Learn more.

They're loving it! The mega rich can dine in the finest restaurants and sip on the most extravagant wines, but apparently all they want is a good ol' cheeseburger. Or at least, that's the trend we're seeing now as the result of the recession.

According to a study by American Express, "ultra-affluent" customers have increased their fast food budget by 24 percent, reports The Wall Street Journal. In comparison, the rest of the firm's US customers increased their junk food spending by only eight percent. The "ultra-affluent" category includes people who spend more than $7,000 per month and earn a certain income level.

Keith Gutsell, an IT risk manager at a Chicago bank, says eating these quick service meals helps him feel more thrifty. "Subconsciously, I think I'm saving money by spending less on food, but my spending somewhere else must be going up, because the amount on my credit card is not going down," he says.

Although eating cheap meals on the go will save them big bucks now, it will result in higher medical bills in the long run. Have you been consuming more fast food to save money like the fabulously wealthy?