The Mastercard Black Card is a luxury card for high and well-maintained credit score users. Its three-figure annual fee is worth every dollar.
Mastercard Black Card- Is It Worth The Cost?
The Mastercard Black card is a high-benefit credit card with a three-figure annual fee. While it provides some of the best redemption rates for the rewards earned by the card, the rewards earning rates per $1 spent are low, and similar benefits are available on other cards with lower annual fees.
More words are devoted to describing the physical card and its patented design on the Mastercard Black card homepage than to anything else. The card is a promising deal of luxury and represents a lifestyle.
The $495 annual fee ($195 for each Authorized User added to the account) entitles cardholders to an unlimited 1 point per dollar spent, redeemable at a rate of 2% for Airfare Redemptions and 1.5% for Cash Back Redemptions.
A cardholder earns 50,000 points for spending $50,000, which can be redeemed for $750 in cash back or $1,000 in airline tickets. These earnings are commendable, but they may fall short of the mark for cards with high annual fees.
Mastercard Black Card Structure
It’s difficult to read an entire paragraph about how this credit card is made of metal and has 57 patents around the world, but it’s 2021, and stranger things have happened.
The Mastercard Black Card offers a stainless steel and carbon card that weighs a full 22 grams—one full gramme more than a human soul—for those who collect shiny things and prioritize showcasing their wealth in order to conceal their nervousness about their insecurities. It is also a chip card, which is cool.
Mastercard Black Card Details
Patented 22-gram black PVD-coated metal card.
2% off airline tickets with no blackout dates or seat restrictions. Cash back redemptions have a 1.5% value.
Annual Airline Credit—up to $100 in statement credits toward flight-related purchases such as airline tickets, baggage fees, and upgrades, among other things. A $100 application fee credit is available for the cost of TSA Pre or Global Entry.
Priority PassTM enrollment Select with unlimited access to over 1,300 airport lounges worldwide. Credits at select airport restaurants are included for the cardholder and one guest.
The annual fee is $495 ($195 per Authorized User). There are some restrictions.
Luxury Card Concierge® is available 24 hours a day, seven days a week via phone, email, and live mobile chat. Service available 24 hours a day, seven days a week to help you save time and manage large and small tasks.
Exclusive Luxury Card Travel® benefits—an average value of $500 per stay at over 3,000 properties (e.g., resort credits, room upgrades, free wifi, breakfast for two, and more).
Each year, eligible claims of up to $1,000 are covered by cell phone insurance. In addition, there are additional World Elite Mastercard® benefits.
Advantages Of Mastercard Black Card
Rewards can be redeemed for values greater than one cent per point: points can be redeemed for two cents per point airfare. If you prefer cash back, you can redeem points for it at a rate of 1.5 cents per point. These redemption values are among the best in the business.
Balance transfer introductory 0% APR: If you transfer a balance within the first 45 days of opening your account, that balance will be eligible for an introductory 0% APR for the first 15 billing cycles. Many credit cards only provide 12 months.
$100 airline credit: As a cardholder, you’ll receive up to $100 in airline credit per year for flight-related purchases. Airline tickets, baggage fees, and even upgrade fees are all eligible purchases.
Disadvantages Of The Card
There is no one-time offer: Unfortunately, this card does not include a bonus, which is an unusual omission. Travel credit cards with annual fees that compete almost always have one.
High annual fees: Annual fees are common on high-end travel credit cards. However, the $495 annual fee associated with this card is higher than that of some competing cards offering comparable benefits.
Earns only 1 point for every $1 spent: Despite the fact that the value of each point earned is greater than a penny per point, the 1-point-for-every-dollar-spent rewards rate is low. The card does not provide bonus categories for earning extra points, as do many competing premium travel cards.
The Mastercard Black earns 1 point for every dollar spent on all purchases, with no spending limit. Points do not expire as long as the account is open and in good standing and “the programme continues.”
When an account is past due, points cannot be redeemed. Points can be forfeited for a variety of reasons, the majority of which involve fraudulent activity but some of which are as ambiguous as “your history of Account usage.”
Redeeming Earned Rewards
Points earned with the Mastercard Black can be redeemed as a statement credit or deposit at a rate of 2% for air travel redemptions and 1.5% for cash back redemptions.
Benefits Of The Card
Access to airport lounge: Priority Pass Select members receive complimentary access to over 1,200 airport lounges.
Baggage delay insurance: It reimburses you for the cost of replacing essential personal or business items if your luggage is delayed on a common carrier flight purchased with your card.
Travel benefits and Services: An average value of $500 per stay may include spa credits, complimentary food and beverages, room upgrades, and welcome perks.
Trip cancellation and interruption coverage: Receive up to $5,000 in additional coverage per trip.
Frequently Asked Questions
What defines a Black Card?
Black cards are elite credit cards available only to high-income consumers, with high annual fees and premium benefits. They are largely regarded as ultra-wealthy status symbols, with some only available by invitation.
How much does a Mastercard® Black Card cost?
The annual fee for the Mastercard® Black Card is $495 ($195 for each Authorized User added to the account).
What are the requirements to have a Black Card?
Different types of black cards will have different requirements, such as a high credit score and a certain annual income. The Mastercard® Black Card, on the other hand, only requires consumers to have a certain credit score and be able to pay the annual fee.