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LOOKING to impress your pals? You could try the latest status symbol for people who like to flash the sort of plastic most of us can't even get our hands on.

The card offers users 1% cashback on all purchases and a 'concierge' service that allows holders to book a restaurant, flight or hotel by ringing a central number.

However, users of the American Express' Platinum card, which doesn't charge an annual fee and offers 2% cashback, would earn £578 if they spent the same amount.

In fact, Morgan Stanley's card is not the most expensive on the market. Amex's Centurion card charges customers £650 a year, while Coutts World card has an annual fee of £350. Both of these cards are charge cards and require the holder to clear the balance each month.

However, for the ultimate in exclusivity the Marks & Spencer black card is the card to be seen with. Handed to around 100 celebrities, the card entitles them to a 20% discount on all purchases in store.

Slightly less glamorous is Asda, which has bucked the trend of the industry and cut the rates on its cards by 3%. However, with rates set between 13.8% and 24.8%, its range of cards is still not cheap.

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