Writer: Linsey Knerl
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
Key Takeaways
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In 2016, the Visa Black Card got a new network and was rebranded as the Mastercard® Black Card®.
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The Bank of America® Travel Rewards credit card is another solid option for travel rewards.
With its demanding application criteria and exclusive perks, the Black Card is among the most sought-after cards available. In January 2016, the Visa Black Card went through a rebranding as the Mastercard® Black Card® and introduced new and improved features.
Let’s explore these features, what it takes to qualify for this card, and also introduce you to five other elite options.
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Rebranded to the Mastercard® Black Card® in 2016
Aside from its visual appeal, the card offers perks like 24/7 concierge service and random luxury gifts delivered to your doorstep — needless to say, it’s not the easiest card to get your hands on.
You’ll need sterling credit, a history of high-dollar purchases, and enough funds to afford a steep annual fee. If that describes you, read on to uncover the many other pros and cons of this elusive card.
In 2016, the Black Card got a new network and was rebranded as the Mastercard® Black Card®. It offers a patented Black-PVD-Coated stainless steel front and carbon back for “durability and distinction.” Laser-engraved card details (including your name) put the finishing touches on this card, solidifying it as both a work of art and a status symbol.
- LIMITED-TIME OFFER: 75K Bonus Points with qualifying account activity.
- Earn 2X points on Airfare and Hotel reservations booked through LuxuryCardTravel.com. One point for every one dollar you spend for all other categories, earning points every time you spend.
- Redeem at 2% value for airfare and 1.5% for cash back. For example, when you redeem 50,000 points you will get $1,000 value for airfare or $750 value in cash back, issued as a direct deposit statement credit.
- $200 Annual Airline Credit: Receive up to $200 in annual statement credits toward flight-related purchases, including airline tickets, baggage fees, upgrades and more. No enrollment or airline designation required.
- $100 Annual Dining Credit: Receive up to $100 in annual statement credits when you use your Luxury Card for restaurant transactions. No enrollment, designated restaurant networks or third-party apps required.
- Receive up to $120 reimbursement credit for a Global Entry or TSA PreCheck® application fee. Global Entry includes access to TSA PreCheck® with no additional application or fee required.
- Your time is valuable and Luxury Card Concierge makes life easier. Agents are available to provide you with personal assistance, tailored to your specific request. Concierge can assist with travel planning, dining reservations, everyday tasks such as sending flowers or researching products and services. Available 24/7: Call, email, text, or chat with agents.
- Enjoy automatic complimentary access to over 1,800 airport lounges. Access includes participating airport restaurants, mini-suites and unlimited visits for yourself as well as your guests.
- Made of Stainless Steel®: A contactless, patented metal card design that raises the standard.
- Exclusive Luxury Card Travel® benefits—average value of $750 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Annual Fee: $699 ($249 for each Authorized User). Terms and conditions apply.
Unlike other “Black Cards” on the market, you can apply for the Mastercard® Black Card® online through the Luxury Card website. While there are no publicly stated minimums for approval, it’s likely you’ll need to have good credit and a solid income.
Receive an Initial Credit Limit of $20,000 to $25,000
Cardholders often have substantial incomes or, at the very least, the capability to pay off their balances, which typically results in receiving a generous initial credit limit.
Spending limits usually range from $20,000 to $25,000, but with careful management, these can grow over time. You can’t predict your starting credit limit, as it’s determined by your profile and doesn’t consider balance transfer requests.
Like any other card, you can improve the likelihood of getting an increase beyond your initial amount by keeping an on-time payment history, paying a large average monthly payment amount, maintaining your credit bureau information and credit score, and using your card regularly for both everyday and large purchases.
A Heavy Card With a Hefty Annual Fee
Beyond the prestige that comes with this card, there’s also a hefty annual fee – $699 ($249 for each Authorized User added to the account). Having this card is expected to unlock a wealth of luxurious benefits. Ultimately, it’s your call to decide if the fee justifies the perks for you.
This sleek metal card weighs in at 22 grams, making it five grams heavier than The Platinum Card®, another premium card that comes with a high annual fee.
Approval Requirements
Barclays doesn’t openly publicize its requirements for obtaining the Mastercard® Black Card®, but it’s safe to assume based on what we do know about the card that the following requirements are a must:
1. Excellent FICO Score (800+)
Naturally, the Mastercard® Black Card® requires an excellent credit score, which is 800 or higher on the FICO index. When being trusted with a high spending limit, you need to have exemplified responsible borrowing behavior in the past, which a strong FICO score will reflect.
2. Big Spending (and Paying) on Your Cards
While the card doesn’t require some of the spending thresholds as other cards (like the AMEX Black Card), you can safely assume that you will need to be an avid user of credit and be excellent at paying back thousands in purchases every month, even to be considered.
3. High Income Necessary
To truly make the most of this prestigious card, it’s important to have a consistent job history, reliable proof of income, and a history of timely payments. Being a Barclays customer already could also work in your favor.
5 Additional Elite Credit Card Options
While this card certainly exudes prestige, its 1.5% cash back rate might seem a bit underwhelming, especially with a $495 annual fee. If you’re on the hunt for bonuses and perks that truly justify such a significant fee, the upcoming cards might catch your eye.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – that can be a $250 statement credit toward travel purchases.
- Earn unlimited 1.5 points per $1 spent on everyday purchases, with no annual fee and no foreign transaction fees and your points don’t expire as long as your account remains open.
- Earn 3 points per $1 spent on travel purchases booked through BofA Travel.
- Turn daily purchases into everyday wins. Simply use your Travel Rewards credit card for the things you already buy – from gifts to getaways – BofA Rewards™ members earn more points.
- Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants, including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.74% – 27.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass™ lounges, after enrollment
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Top rated mobile app
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. You’ll still earn unlimited 1% cash back on all other purchases.
- Get a 0% intro APR for 18 months on balance transfers. Then 17.49% to 26.49% Standard Variable APR applies, based on credit worthiness.
- Redeem cash back for any amount
- No annual fee.
- Terms and conditions apply.
- 0% intro APR for 15 months on purchases and balance transfers; balance transfer fee applies. Then 17.74% – 26.74% Standard Variable Purchase APR will apply
- UNLIMITED BONUS: Unlimited mile-for-mile match for all new cardmembers. Discover gives you an unlimited match of all the miles you’ve earned at the end of your first year. There’s no signing up, no minimum spending or maximum rewards. Just a mile-for-mile match. You could turn 35,000 miles into 70,000 miles
- Automatically earn unlimited 1.5x miles on every dollar of every purchase
- No annual fee
- Turn miles into cash. Or redeem as a statement credit for your travel purchases like airfare, hotels, rideshares, gas stations, restaurants, and more. Redemption rates for these options may vary and are subject to change
- Terms and conditions apply
- Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
- $0 annual fee and no foreign transaction fees
- Earn unlimited 1.25X miles on every purchase, every day
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy 0% intro APR on purchases and balance transfers for 15 months; 18.74% – 28.74% variable APR after that; balance transfer fee applies
- Top rated mobile app
While some of these cards may cost a pretty penny, annual-fee-wise, the perks and bonuses can easily offset those costs if you use them correctly. And if you still haven’t found the right card, here are some other high-limit credit cards that you can qualify for with an excellent credit rating.
So, Is the Black Card Right for You?
The verdict is still out on whether the deserves a spot in your wallet, assuming you meet its stringent application criteria.
Ultimately, it’s your call whether the high annual fee is worth the benefits. But don’t worry, your perfect card is out there it might even be one of the five I mentioned earlier. This card could come with an annual fee, yet provide you confidence in your choice year after year!
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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