The American Express Centurion Card — universally known as the Amex Black Card — carries one of the most discussed price tags in personal finance. Before you can even pay it, you need an invitation. And before you can get invited, you need to spend a small fortune. This guide answers everything, without the mythology.
The Amex Black Card generates more questions than almost any credit card in existence — and most of the answers online are buried under mythology and speculation. These eight takeaways cut straight to what actually matters, in plain language.
- 1 What is the annual fee for the Amex Black Card? $5,000 per year. That’s the ongoing annual fee once you’re a member. It does not include the one-time initiation fee of $10,000 that you pay when you first accept the invitation — meaning your first calendar year costs $15,000 in fees before you ever swipe the card. In years two and beyond, it’s $5,000 per year minimum. If you add authorized users, that climbs significantly higher.
- 2 Can I just apply for the Amex Black Card if I want one? No — there is no application. The Centurion Card is invitation-only, and American Express does not disclose its selection criteria publicly. You cannot apply through americanexpress.com or any standard channel. American Express monitors your spending history across existing cards and extends invitations to cardholders who meet its internal spending and financial thresholds. You can signal your interest by calling the customer service number on your existing Amex card, but expressing interest does not trigger or accelerate an invitation.
- 3 How much do I need to spend on Amex cards to get invited? American Express never officially confirms thresholds, but consistently reported estimates from current and former cardholders place personal card spending at $250,000–$500,000 per year across your Amex accounts, with some reports suggesting $1 million or more for certain markets. The Business Centurion reportedly requires higher spending, around $500,000 or more annually. These are not formal requirements — they’re inferences from the pool of people who have received invitations. Income, credit score (typically 750–800+), and account standing also factor in.
- 4 What does the $5,000 annual fee actually buy you? A set of benefits that, if fully and aggressively used, can credibly exceed the fee in dollar value. The most quantifiable: Equinox Destination All-Access gym membership (normally over $7,000/year), Delta SkyMiles Platinum Medallion status (earned value roughly $3,000/year), PS private airport terminal membership at LAX and Atlanta (normally $4,850), CLEAR Plus credit ($369), Saks Fifth Avenue credit ($1,000), and Uber credit ($320). Add consistent use of a 24/7 personal concierge team and Fine Hotels + Resorts credits, and the math works for frequent travelers and heavy users. For anyone who wouldn’t use most of these, it does not.
- 5 What happens if I add my spouse or family member — is there an extra fee? Yes — and the cost is substantial. Each authorized user card costs an additional $5,000 per year according to most current cardholder accounts (some older reporting listed $2,500, but updated figures point to $5,000 per additional user). American Express allows up to two authorized user cards per account. Adding two users brings the total annual cost to $15,000 per year — and that’s in years after the initiation fee. For context, adding an authorized user to the Amex Platinum costs $195.
- 6 Is the Amex Black Card a credit card or a charge card? It’s a charge card, not a credit card. This is an important distinction most people gloss over. A charge card has no preset spending limit — your purchasing power adjusts month to month based on your spending history, payment patterns, and financial profile. But unlike a credit card, you must pay the full balance every billing cycle. There is no option to carry a balance and pay interest over time. That structure suits the ultra-high-net-worth cardholder profile Amex targets — they’re expected to pay in full every month, always.
- 7 Is the Amex Black Card made of metal? What does it actually look like? The card is titanium — heavier and more substantial than any standard metal card. When an invitation is accepted, American Express ships the card in an elaborate black package with a custom engraved Centurion logo. The experience of receiving and unboxing it is reportedly designed to feel like receiving a luxury item rather than a financial product. The card itself is matte black with embossed lettering. Its weight and finish are distinctly different from the rose-gold and platinum-colored cards most premium cardholders carry.
- 8 If I can’t get the Black Card, what’s the closest realistic alternative? The American Express Platinum Card at $895 per year is the most direct alternative for the vast majority of people interested in premium travel benefits. It offers access to 1,550+ airport lounges including Centurion Lounges, Hilton and Marriott Gold status, Fine Hotels + Resorts access, the Global Lounge Collection, and more than $3,500 in annual statement credits. Independent analysis consistently finds that the Platinum delivers approximately 80% of the Centurion’s practical value for less than 18% of the annual cost. It also comes with a substantial welcome bonus — something the Black Card does not offer.
The $5,000 figure gets quoted most often, but the full cost picture is more layered than that single number suggests. Here’s what you actually pay, when you pay it, and what the math looks like over time.
$10,000 initiation fee — paid once when you accept the invitation. Non-refundable. This isn’t a deposit or a credit — it’s gone. $5,000 annual fee — due in the first year of membership alongside the initiation fee. Total year one minimum: $15,000 before a single purchase is made. If you add two authorized user cards in year one: $25,000 total in fees. American Express does not waive or reduce these fees for any reason — they’re not a negotiating point, they’re a stated condition of acceptance.
From year two onward, the initiation fee is gone but the annual fee continues at $5,000 per year with no reduction, regardless of how much you’ve spent, how long you’ve been a member, or how many benefits you’ve used. Additional authorized users cost $5,000 per user per year (up to two). There is no tenure discount, no loyalty reduction, and no promotional period. The fee auto-bills each year. If you close the account, you do not receive a prorated refund of the annual fee for the portion of the year unused — standard practice for Amex charge cards.
Over five years, a single Black Card cardholder pays: $35,000 in total fees ($10,000 initiation + 5 × $5,000 annual). A Platinum cardholder over the same five years pays: $4,475 (5 × $895). That’s a $30,525 difference — enough to fund a significant luxury vacation budget entirely, or to invest at a modest rate of return. The question isn’t whether the Black Card has impressive benefits. It’s whether those benefits are worth $30,525 more over five years than the Platinum’s already-substantial offering.
The Centurion Card launched in 1999. For many years the annual fee was $2,500 — double what the Platinum charged at the time, but far less than today’s number. American Express raised the annual fee to $5,000, and the initiation fee to $10,000, as part of its effort to reinforce the card’s ultra-exclusive positioning. Current cardholders who joined before the fee increase were grandfathered into their original terms during a transitional period, but new invitees since the increase pay the current rates. American Express’s direction has been toward higher fees, not lower ones, which is worth factoring into any long-term cost projection.
The Centurion Card’s benefits list is long, and American Express is careful about what it officially discloses. Here’s what is known from current cardholders, independent analysis, and Amex’s own published materials — along with honest context about which benefits are genuinely valuable and which are less useful than they sound.
Every premium credit card offers some version of a concierge service. The Centurion concierge is different in a way that’s hard to quantify: you can request the same dedicated representative on each call, building a relationship over time. That representative maintains a detailed profile of your preferences — travel style, dietary needs, hotel preferences, typical gift choices — and can coordinate complex multi-city travel, source sold-out items, book fully committed restaurants, and access invite-only events. The real value isn’t the service itself — it’s what the service can accomplish that you simply couldn’t on your own: front-row seats to events that aren’t publicly available, reservations at restaurants with six-month waiting lists, and emergency travel coordination in situations where standard travelers hit walls. Any purchases made through the concierge on your behalf go on your card.
One frequently cited testimonial from a long-term Centurion holder: the personal concierge saved over $20,000 per year in time, access, and preferential treatment — treatment that money alone couldn’t otherwise buy. That’s inherently unverifiable, but the structural reality is that the concierge has genuine relationships and genuine access that standard services don’t.
This single benefit, if you actually use Equinox gyms, can theoretically offset more than the entire $5,000 annual fee on its own. The Centurion Card includes complimentary access to Equinox’s top-tier Destination All-Access membership, which provides unlimited access to all Equinox locations globally — including the premium SoulCycle and additional fitness concepts under the Equinox umbrella. The critical caveat: Equinox is concentrated in major U.S. metros and select international cities. If you live in New York, Los Angeles, Miami, Chicago, or London and would otherwise pay for an Equinox membership anyway, this benefit alone changes the fee math dramatically. If there’s no Equinox near you, this benefit has zero practical value regardless of its nominal value. Enrollment required — it does not activate automatically.
PS operates private airport terminals at Los Angeles International Airport (LAX) and Hartsfield-Jackson Atlanta International Airport (ATL), with a Miami International Airport (MIA) location in development. The experience: you arrive at a separate facility entirely from the main terminal, pass through a private TSA security checkpoint with no queue, wait in a luxury private suite rather than a gate area, and are driven directly to your aircraft on the tarmac — bypassing the main terminal entirely. The Centurion Card includes complimentary PS membership (normally $4,850) with two complimentary visits including a guest each year. Additional visits beyond the two complimentary ones require an additional per-use fee — reported at approximately $3,550 per visit on top of the membership. For public figures, celebrities, or executives who travel frequently through LAX and genuinely need to avoid crowds and queues, this benefit has both financial and practical value that’s difficult to replicate any other way.
The Centurion Card grants automatic elite status across four programs without requiring the usual qualifying nights or segments: Delta SkyMiles Platinum Medallion (the second-highest tier, worth roughly $3,000/year in upgrades and benefits for regular Delta flyers), Hilton Honors Diamond (top tier — complimentary breakfast, suite upgrades, executive lounge access), Marriott Bonvoy Gold Elite (mid-tier, meaningful for regular Marriott stays), and IHG One Rewards Platinum Elite. These statuses are particularly valuable because they’re handed over automatically — earning Delta Platinum Medallion organically requires 75 qualifying flight segments or 100,000 qualifying miles per calendar year, which many cardholders would never reach through flying alone. Enrollment may be required for individual programs. Cardholders who don’t fly Delta or stay at Hilton or Marriott properties extract minimal value from these specific statuses.
The Centurion Card includes a collection of annual statement credits that collectively can offset a significant portion of the annual fee — provided the cardholder actually uses the relevant services:
The Saks credit stands out as particularly straightforward — $1,000 per year in statement credits toward Saks Fifth Avenue purchases. For a cardholder who shops at Saks regularly, that’s a direct and uncomplicated offset. The CLEAR Plus credit covers the cardholder and family members on the same account — at $369, it exceeds the cost of a standard individual CLEAR membership. Uber credits are issued monthly and require using the Amex card within the Uber app. Credits that aren’t used by year-end do not carry over — you lose them.
Centurion Card members access the same Global Lounge Collection that Amex Platinum members access — over 1,500 lounges worldwide including Centurion Lounges, Delta Sky Clubs (when flying Delta), and Priority Pass lounges. The difference between Centurion and Platinum access: priority seating at Centurion Lounges — at busy lounges where Platinum holders may wait, Centurion holders are generally accommodated immediately — and the ability to bring immediate family or up to two guests at no charge at most Centurion Lounge locations. This is a meaningful distinction at heavily trafficked locations like New York (JFK), San Francisco (SFO), and Los Angeles (LAX) Centurion Lounges, where Platinum guests can face waits during peak hours. Enrollment required for Priority Pass; enrollment may be required for other partner lounges.
This is the question that generates the most searches about the Black Card — and the honest answer is almost never given cleanly. Here it is, as directly as the numbers allow.
A complete benefit utilization by a frequent traveler who uses every available perk looks like this in annual dollar value:
- Equinox Destination All-Access: $7,200+ (if you’d otherwise pay for it)
- Delta Platinum Medallion status: ~$3,000 (upgrade and benefit value)
- PS membership + 2 complimentary visits: $4,850 membership value
- Saks Fifth Avenue credit: $1,000
- CLEAR Plus credit: $369
- Uber/Uber One credit: $320
- Hilton Diamond status: $1,000–$2,000 in suite upgrades and breakfast
If every one of those benefits is used at full value, the total exceeds $17,000 — well beyond the $5,000 annual fee. The cardholder this works for: lives in a major city with Equinox locations, flies Delta regularly, travels through LAX or Atlanta frequently, has a household that shops at Saks Fifth Avenue, and has a personal or professional need for a concierge who can accomplish things standard services can’t. For this person — who represents a small fraction of the people who are curious about this card — the math is defensible.
The honest reality: most people curious about the Amex Black Card would not meaningfully use Equinox gyms, don’t fly Delta frequently enough for Medallion status to matter, don’t travel through LAX or Atlanta on a regular basis, and would not extract $5,000 in annual value from the benefits package. The appeal of the card is heavily weighted toward status signaling — the titanium weight of the card itself, the reaction it generates when producing it at a restaurant, and the cachet of membership in one of the smallest financial clubs in the world. These are real and legitimate reasons some people value the card, but they’re social reasons rather than financial ones. If the financial math is what you’re relying on to justify $5,000 per year, the card almost certainly doesn’t work for you. And if the social cachet is the reason — that’s worth being honest about, because the Amex Platinum produces almost the same reaction among people who recognize premium credit cards, at a fraction of the cost.
The most honest advocates for the Centurion Card don’t make the case on dollar-for-dollar benefit math. They make it on access. The card gives you a relationship with a concierge team that has spent years building relationships with the restaurants, hotels, event promoters, and service providers that the ultra-wealthy use. That relationship produces results that aren’t for sale at any price in the normal market: tables that don’t exist, tickets to events that aren’t public, hospitality during travel disruptions that feels like a different category of service. If your life operates at a level where that kind of access would meaningfully improve it — and you have the financial profile to have received an invitation in the first place — the $5,000 fee becomes a reasonable cost of doing business. The myth and the reality overlap more than critics acknowledge, but only for people whose lives already require this level of access.
The three cards most frequently compared when someone asks whether the Black Card is worth it. The table lets you find the row that matters most for your decision and see the answer directly.
| Category | Amex Black (Centurion) 🖤 | Amex Platinum 🔷 | Chase Sapphire Reserve 🔶 |
|---|---|---|---|
| Annual Fee | $5,000 + $10,000 initiation Highest | $895 | $550 Lowest |
| How to Get It | Invitation only — no application | Open application — apply online | Open application — apply online |
| Welcome Bonus | None | Up to 175,000 MR points (terms vary) | 60,000–80,000 UR points (terms vary) |
| Card Material | Titanium Heaviest | Metal | Metal |
| Authorized User Cost | $5,000/user/year | $195/user/year | $75/user/year |
| Airport Lounge Access | 1,500+ lounges + priority Centurion access | 1,550+ lounges — Global Lounge Collection | Priority Pass Select + select partners |
| Private Airport Terminal | PS membership + 2 free visits (LAX & ATL) | Not included | Not included |
| Personal Concierge | Dedicated 24/7 Centurion concierge | Standard Amex concierge | Standard Chase concierge |
| Airline Status | Delta Platinum Medallion — automatic | None automatic | None automatic |
| Hotel Status | Hilton Diamond + Marriott Gold + IHG Platinum | Hilton Gold + Marriott Gold | No automatic status |
| Gym Membership | Equinox Destination All-Access ($7,200+/yr value) | $300 Equinox credit only | Not included |
| Points Earning | 1x base, 1.5x on $5,000+ purchases | 5x on flights, 1x elsewhere | 3x travel + dining, 1x elsewhere |
| Annual Credits Value | ~$1,700–$1,900 in major credits | $3,500+ in credits (2026 refresh) | $300 travel credit + others |
| Card Type | Charge card — balance due in full monthly | Charge card (some options for carrying) | Credit card — can carry balance |
| Overall Best For | Ultra-high spenders who need concierge access | Best value premium travel card | Best travel rewards with points flexibility |
Fees and benefits confirmed from publicly available information and cardholder reports as of mid-2026. American Express does not officially disclose all Centurion Card terms. Amex Platinum annual fee reflects the 2026 refresh. Verify current terms at americanexpress.com and chase.com before making any financial decisions. Terms apply to all benefits; enrollment required for select Amex benefits.
American Express does not publish its selection criteria for the Centurion Card. What follows is based on consistent patterns across reported invitations, cardholder disclosures, and industry analysis — not official Amex guidance.
- Existing Amex relationship: Almost every reported Centurion invitation came to someone who was already an Amex Platinum cardholder. The Platinum is widely considered the stepping stone. Holding the Gold or Green card alone appears insufficient — Platinum tenure and Platinum-level spending seems to matter.
- Annual spending: The most frequently reported threshold is $250,000–$500,000 per year across all Amex accounts. Some reports from high-spending cardholders suggest $1 million or more for certain markets. Concentrated spending on a single card may be weighted more heavily than the same total spread across multiple cards.
- Account tenure: Most reported invitees had been Amex Platinum cardholders for at least one year before receiving consideration. Building a track record of on-time payments and consistent high spending over multiple years appears to matter more than any short-term spending spike.
- Credit profile: A credit score of 750+ is commonly cited; some reports suggest 800+ is more typical of the actual invite pool. No derogatory marks, no missed payments, no account issues.
- Income and financial profile: Though Amex does not run a credit application, it has access to significant financial data through its card relationship. Annual income at or above $1 million is frequently cited in cardholder profiles.
There is no formal application channel for the Centurion Card. The previous “express interest” form on AmericanExpress.com is no longer functional. The most direct current approach: call the customer service number on the back of your existing Amex card and ask to be connected with a representative who handles Centurion inquiries. You can express that you’re interested in being considered for the Centurion program. American Express explicitly states that expressing interest is not a credit application and does not obligate the company to invite you, speed up any evaluation, or acknowledge any timeline. It simply puts a note in your file.
The most reliable path to a Centurion invitation isn’t a strategy — it’s a financial reality. People who receive invitations are, almost without exception, people who are already spending at the qualifying level organically as a result of their lifestyle or business activity. Attempting to artificially inflate Amex spending to cross a threshold is not a reliable path to an invitation — and the cost of doing so would exceed the card’s financial benefit anyway. If your natural spending on an existing Amex Platinum is consistently in the $250,000+ range annually and has been for multiple years, an invitation may come on its own. American Express monitors its cardholder base and identifies candidates; the invitation typically arrives by mail with a response deadline. If the financial profile isn’t already there, no amount of strategic card use creates it.
The “right” card depends entirely on who you are and what you actually do — not on which card sounds most impressive. Here’s a direct answer for the most common situations people are really in when they search for the Black Card.
The Centurion Card is designed for exactly this profile. Delta Platinum Medallion alone changes the experience of frequent Delta flying materially — complimentary upgrades, dedicated phone lines, premium cabin priority — and that status combined with Hilton Diamond and the Equinox benefit can credibly account for more than the annual fee in concrete value. The concierge becomes most valuable when your schedule genuinely requires coordinating complex travel and access on short notice. At this spending level, accepting an invitation if it arrives is financially defensible and potentially economically rational. Ensure you’ll actually use Equinox and travel through LAX or Atlanta enough to capture the PS value before accepting.
The Amex Platinum at $895 per year is the correct answer — and it’s not a consolation prize, it’s genuinely the better financial choice for most people in this category. The 2026 refresh brought the Platinum’s annual credits to over $3,500, including a $600 hotel credit, $400 Resy dining credit, $300 digital entertainment credit, and $200 airline fee credit. These credits, fully used, cover the annual fee and then some. The welcome bonus of up to 175,000 Membership Rewards points has real travel value. The card is metal, looks and feels premium, accesses the same Centurion Lounges, and earns strong points on flights. For most high-earning professionals, this is the card that makes financial sense.
Neither Amex card is optimized for points earning. The Centurion earns just 1 Membership Reward point per dollar on most purchases, with 1.5x on purchases over $5,000 — modest by any measure. The Amex Platinum earns 5x on flights booked directly or through Amex Travel, but drops to 1x on almost everything else. For maximizing rewards across everyday spending, the Chase Sapphire Reserve (3x on travel and dining at $550/year), Amex Gold Card (4x on dining and groceries), or the Capital One Venture X ($395/year with 2x on all purchases) are better-suited tools. The Black Card in particular is explicitly not designed for points optimization — it’s designed for access, service, and status.
Run this honest checklist before accepting. Will you use Equinox gyms regularly — and do you live near one? Do you fly Delta frequently enough for Platinum Medallion to produce meaningful upgrades? Do you travel through LAX or Atlanta enough for the PS benefit to be used at least twice a year? Do you stay at Hilton or Marriott properties often enough for Diamond or Gold status to matter? Do you shop at Saks Fifth Avenue? If you can answer yes to at least four of these five, the math may work. If three or fewer apply to your actual life as it is now — not as you imagine it might become — the $5,000 annual fee will almost certainly not deliver $5,000 in value, and the $10,000 initiation fee produces no value at all. The Platinum Card provides a meaningful alternative without the initiation fee, with a better points earn rate, and with a $895/year fee that’s far easier to justify and exit.
Be clear-eyed about what you’re buying. Paying $5,000 per year for social signaling is a legitimate personal choice — people spend money on luxury goods for the status they convey all the time, and there’s nothing inherently wrong with that. But the specific social group that recognizes and responds to a Centurion Card is small — and the Amex Platinum metal card produces nearly the same reaction among the far larger group of people who recognize premium credit cards. If the audience you’re trying to impress is the ultra-wealthy who carry Centurion Cards themselves, then yes, the distinction matters. For most other contexts, the Platinum achieves the same signal at a fraction of the cost. Make the decision honestly, not aspirationally.
No — and this is technically one of its defining features. The Centurion is a charge card with no preset spending limit, meaning Amex evaluates each large purchase individually based on your history, payment patterns, and financial profile rather than applying a fixed ceiling. In practice, cardholders can make very large single purchases — luxury vehicles, jewelry, event sponsorships, travel packages — that would exceed standard credit limits. However, “no preset limit” does not mean unlimited spending with zero scrutiny. Unusually large transactions outside your typical pattern may trigger a verification call. And because the entire balance is due at the end of each billing cycle, the practical limit is what you can pay off in full each month.
Yes — American Express can recall the invitation or close the account. There’s no officially published threshold for spending maintenance, but cardholders who significantly reduce their Amex spending after joining have reported receiving communications from American Express about their account status. The implicit expectation is that the spending profile that earned the invitation continues. If you join the Centurion program and then substantially reduce your Amex card usage — say, by shifting to another issuer’s cards — American Express may choose not to renew the membership. The Centurion relationship is understood to be reciprocal: the card exists partly because high spenders drive revenue for Amex, and that expectation doesn’t end at acceptance.
Yes — the Business Centurion Card exists alongside the personal version. The fee structure is identical ($10,000 initiation, $5,000 annual), but the spending threshold for invitation is reportedly higher — approximately $500,000 per year in business expenditure across Amex business cards is the commonly cited estimate. The Business version has some differences in its benefit package relevant to business travel and spending, including enhanced purchase protections and points earning rates on specific business categories. Business Centurion cardholders reportedly can redeem Membership Rewards points at up to 2 cents per point toward Pay with Points flight bookings — a more favorable rate than the personal card’s standard redemption. American Express does not officially publish Business Centurion benefits in the same way it publishes standard business card terms.
Bluntly: no. The Centurion earns 1 Membership Reward point per dollar spent on most purchases. On purchases above $5,000 on a single transaction, it earns an additional 0.5 points per dollar (1.5x total), up to 1 million bonus points per year. Compare that to the Amex Gold Card (4x on dining and U.S. supermarkets), the Amex Platinum (5x on flights), or the Chase Sapphire Reserve (3x on travel and dining). The Centurion Card is not designed to be a rewards-optimization tool — it’s designed around access, service, and status. Cardholders who care about maximizing points per dollar should use the Centurion for the benefits it provides while using an Amex Gold or similar high-earn card for everyday spending, and crediting the points to the same Membership Rewards account. Many Centurion holders maintain a Gold Card specifically for this purpose.
American Express does not publish membership numbers. Estimates from industry analysts and cardholder communities place global Centurion membership at approximately 17,000 cardholders worldwide — a remarkably small number that represents a fraction of a percent of American Express’s total card base of roughly 140 million. By comparison, the Amex Platinum has many millions of cardholders globally. This exclusivity is, of course, partly the point. The Centurion’s rarity is an intentional design feature rather than an operational constraint — American Express could theoretically lower the thresholds and expand membership, but doing so would undermine the product’s entire appeal.
The Centurion Card runs on the American Express network — not Visa or Mastercard. This means it faces the same acceptance limitations as any Amex card: some merchants, particularly smaller businesses and certain international vendors, don’t accept American Express due to its higher interchange fees. This is a real practical limitation that Centurion holders work around by carrying a Visa or Mastercard alongside it — the Chase Sapphire Reserve is a popular pairing precisely because it provides broad Visa acceptance everywhere Amex isn’t taken. American Express’s acceptance has improved significantly over the past decade and is near-universal at major retailers, airlines, hotels, and restaurants in the United States, but the gap with Visa and Mastercard remains meaningful at smaller merchants globally.
This article is for informational and educational purposes only and does not constitute financial advice. The Centurion Card’s fees, benefits, and invitation criteria are not officially published in full by American Express and are based on publicly available cardholder accounts, independent analysis, and industry reporting as of mid-2026. Benefits, fees, and terms are subject to change. Enrollment is required for select Amex benefits. Terms and conditions apply to all card benefits. The Amex Platinum annual fee reflects the 2026 product refresh — verify current fees at americanexpress.com. This page has no commercial or affiliate relationship with American Express, Chase, or any card issuer mentioned. This is not a credit application or financial product endorsement.