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Wednesday, June 16, 2021

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

Visa Black Cards Requirements

credit card advice

Linsey Knerl
By: Linsey Knerl
Updated: January 20, 2021
Advertiser Disclosure

If you’re looking for information on Visa Black Card requirements, you’ve come to the right place — but the card switched networks a few years ago and is now issued by Mastercard. Keep reading for more information on this elite card.

Long gone are the days when having a gold card was the sign of elite credit-worthiness. Nowadays, black is the new gold, and most major netowrks have their own version, the most well-known of which may be Amex’s Centurion card, with the Visa Black Card a close rival.

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, the Visa Black Card was rebranded to the Luxury Card™ Mastercard® Black Card™ with new and enhanced features. We’ll take a look at these features and what it takes to get the new Luxury Card™ Mastercard® Black 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 Luxury Card™ Mastercard® Black Card™

Several years ago, the Visa Black Card got a new network, The Luxury Card rebranded it as the Luxury Card™ Mastercard® Black Card™. It offers a patented stainless steel front and carbon back for “durability and distinction.”

Mastercard® Black Card™

Cardholders earn rewards points on every purchase, at a rate of one point per dollar spent. Redemption values vary based on what you redeem them for, with airfare providing 2% value and cash back providing 1.5% value. You’ll also earn a $100 annual airline credit, have access to the Luxury Card Concierge, and enjoy Luxury Card Travel perks.

Unlike other “Black Cards” on the market, the Luxury Card™ Mastercard® Black Card™ can be applied for online via the Luxury Card website. But while there’s no published minimums for approval, it’s safe to assume you’ll need at least good credit and a fairly healthy income.

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), the card’s 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 this 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:

  • 1.5% value for cash back redemptions
  • 2% value for airfare redemptions with no blackout dates or seat restrictions
  • 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
  • earn one point for every one dollar spent

Approval Requirements

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

Naturally, the Luxury Card™ 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.

Discover it® Cash Back Review

at Discover Card'ssecure website

EXCELLENT CREDIT RATING

★★★★★
4.9

OVERALL RATING

4.9/5.0
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. 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. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back in any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • #1 Most Trusted Credit Card according to Investor’s Business Daily.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 14 months
0% for 14 months
11.99% - 22.99% Variable APR
$0
Good/Excellent

EXCELLENT CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months
  • Earn unlimited 2X 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
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Redeem on travel—including flights, vacation rentals, car rentals and more. Plus transfer your miles to over 15+ travel loyalty programs
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.24% - 24.49% (Variable)
$95
Excellent, Good

EXCELLENT CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all other purchases.
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent
Chase Freedom Flex℠ Review

at the issuer'ssecure website

EXCELLENT CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

EXCELLENT CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 15+ travel loyalty programs
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

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 Luxury Card™ 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!

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