Visa® Black Card Requirements (And 5 Other High-Limit Cards)

By: Linsey Knerl • 5/24/2018

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Long gone are the days when having a gold card was the sign of elite credit-worthiness. Nowadays, the “Black Card” is the card of choice for elite card carriers. With its strict application requirements and most VIP of perks, the Black Card is one of the most elusive cards on the market.

Then in January 2016, Barclays rebranded its coveted Visa Black Card to the MasterCard “Luxury Card” with new and enhanced features. We’ll take a look at these features and what it takes to get the new MasterCard Luxury Card, as well as show you five elite alternatives without the hefty annual fee.

About the Card | Approval Requirements | Credit Card Alternatives (5)

About the Visa® Black Card

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.

Rebranded as the MasterCard® Luxury Card™ in 2016

Early this year, Barclays reintroduced the “Black” card under its new name: The Luxury Card. Serviced by MasterCard, it has three levels of service and perks, all with various annual fees and “precious metal” associations.

The Black Card can be applied for on the website, although your creditworthiness and spending ability may cause you to be approved for one of the lesser accounts.

Receive an Initial Credit Limit of $20,000 to $25,000

Because cardholders generally have a much higher income (or at least the ability to pay back their cards), MasterCard Black customers are usually given a very high initial credit limit. Spending allowances average between $20,000 – $25,000, with increases given over time for responsible account usage.

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.

Equipped with a Hefty $495 Annual Fee

Along with the status that comes with this card, however, there’s also a hefty $495 annual fee. It would be expected that the perks of owning a Black Card would be many, and plush. Only personal preference can determine if the fee is worth it, but here are some of the most promising benefits:

  • cash-back bonuses, usually 1-2% on purchases
  • worldwide acceptance
  • 24-hour concierge service for help with travel, event planning, and shopping
  • periodic luxury gifts, some as pens and magazines
  • enrollment in the VIP airport lounge program
  • travel insurance, warranty extensions, and purchase protections

Cardholders will also receive 15 months 0% APR financing on all purchases and balance transfers when the transfer is completed within 45 days of opening the account.

Approval Requirements

Barclays doesn’t openly publicize its requirements for obtaining a 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 (720+)

Naturally, the MasterCard Black Card requires an excellent credit score, usually 720 or higher on the FICO index. When being trusted with a high spending limit, you have 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 are very good at paying back thousands in purchases every month to even be considered.

3. High Income Necessary

Of course, to spend big, you have to earn big. To be able to charge and spend as needed to for this prestigious card, a solid job history, adequate proof of income, and a record of making on-time payments is a must. It probably also won’t hurt to be a Barclays’ customer.

5 Elite Credit Cards Without a $495 Annual Fee

As “elite” as the card may seem, the 1.5% cash back is a little underwhelming, while the $495 annual fee is a little overwhelming. If a higher cash-back bonus, lower annual fees, and more widely accepted perks are of interest to you, the following cards may be more appealing.

Here are some additional high-limit credit cards an excellent credit rating can get you.

So, is the Black Card Right for You?

The jury is out on whether the MasterCard Black Card is one that you should be carrying around in your pocket, assuming you meet its strict application requirements. Only you can decide whether the $495 annual cost of carrying one is worth the benefits, but the right card for you is out there, and it may have an annual fee you can feel better about — year after year!

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

About the Author

Linsey Knerl

Linsey is a finance blogger, author and public speaker with a passion for helping everyday families earn more and live better. In addition to covering the credit card industry in depth on CardRates, she shares her expertise for parents who want to start budget-friendly businesses from home at