and once you qualify the card is quite expensive after paying a $ 7500 initiation fee the card comes with a $ 2500 annual fee per card which is more than five times the cost of any other amex productnote that i said per card so if you want one for your spouse the annual fee jumps to $ 5000nd once you qualify the card is quite expensive after paying a $ 7500 initiation fee the card comes with a $ 2500 annual fee per card which is more than five times the cost of any other amex product