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Mastercard Black Card Review: Is it a Top Notch Luxury Travel Card?

There are a lot of different credit cards on the market. Many of these credit cards are meant for specific purposes. Some of them are made to appeal to the average consumer and others will be more appealing to high-end users that are seeking various benefits. The MasterCard Black Card is something that really stands out as an interesting option for those who have the money to make use of it.

 

This is not a credit card that is going to work well for many people, but it does still have a significant appeal for the right demographic. You will be able to gain access to some amazing perks for being a cardholder. It also functions as a rewards credit card that can give you some decent benefits when you purchase things with the card. There are many rewards cards out there that offer good perks, though. What is it that sets this one apart from the competition?

 

Join us as we take a deep look at the MasterCard Black Card. We will discuss everything that the card has to offer while also pointing out areas where it might be lacking. This is an interesting card that might be worthy of holding a spot in your wallet. It is going to come down to whether or not you can make use of everything that this has to offer.

 

Mastercard Black Card

Introductory Offer:

No intro offer

Rewards:

You'll earn 1% rewards on all purchases.

Benefits:

Stainless Steel Card.
Airfare redemptions are worth 2 cents per point.
Cash back redemptions are worth 1.5 cents per point.
$100 airline credit.
Global Entry.
Priority Pass Select.
Luxury Gifts.
24/7 Concierge

Annual Fee:

$495

Our Thoughts:

With no introductory offer, this luxury card lacks the value of other luxury travel cards from Chase or Amex.
LEARN MORE >>

 

Mastercard Black Card Fees

Right away your eyes are going to be drawn toward that very high annual fee that you will need to pay to become a cardholder. This card has a $495.00 annual fee that is going to make it prohibitively expensive in some people’s eyes. The card does offer several amazing benefits that we will get into later on in the review. You are going to have to weigh the benefits against this high annual fee to see whether things are favorable enough to make you want to sign up.

 

There are some other fees that you should be aware of, too, before you apply. You will have to pay a balance transfer fee of three percent every time you transfer a balance from another credit card. There is a minimum of $5.00 too, so you will have to pay a $5.00 fee if three percent of the balance transfer amount would be less than $5.00. This is a fairly standard balance transfer policy for a credit card company, but it is still something that you need to be aware of in case you plan on using this as a balance transfer card.

 

There are also cash advance fees when you choose to use the card for that. You will have to pay five percent of the cash amount that you are requesting in fees. There is also a $10.00 minimum that you will need to consider. Cash advances should usually be avoided unless absolutely necessary, but these fees are fairly standard practice when it comes to credit cards.

 

You will also be able to enjoy a good introductory APR period when using this credit card. The introductory APR period lasts for 15 months on this credit card, which is a pretty significant chunk of time. Being able to avoid interest for a bit can really be helpful, so it could be a good card for multiple purposes. Once the introductory period is finished, the APR will be at a fairly standard rate that is not too high at all.

 

Late fees for this credit card are nothing to write home about either. You will need to pay out a $37.00 late fee when it is applicable. The same $37.00 fee will be applied when you have a returned payment. This is mostly standard and will come as no surprise.  

 

Features of the Mastercard Black Card

The features of this card mainly have to do with the benefits that you will receive and the rewards program. Some of the minor benefits that can be considered features include a $100 annual travel credit and $100 to use for TSA Precheck or Global Entry programs. If you plan on traveling a lot, then these features can really be helpful and you will be able to make use of them every year. There are many amazing benefits that we will discuss in detail to give you an idea of how useful this card will be for you.

 

The card does lack some features that you might expect, though. For example, there is no sign-up bonus associated with this card. Most credit cards have some type of sign-up bonus that you can earn for spending a certain amount of money within an allotted frame of time. This is not the case here, so don’t expect any lucrative cash rewards or airline miles as a sign-up bonus.

 

Benefits of the Mastercard Black Card

The benefits of this credit card are various and will be the main reason that you will want to sign up. If you are the type of person who travels regularly, then you will really be able to take advantage of what this card has to offer. You will be able to gain entry into over 1,000 airport lounges across the world.

 

These luxury airport lounges can make your travel experience that much more entertaining. Simply having access to the airport lounges is a huge perk that will go a long way toward justifying that high annual fee. You don’t have a limit placed on how many times you can visit the lodge either. You’ll be able to bring an unlimited number of guests to the lounge with you and can go whenever you want to.

 

Through the Mastercard Black Card, you will also gain access to a 24/7 concierge service. These concierge services can help you with various needs, so you can feel free to call them if you need entertainment tickets or if you are simply trying to get into a restaurant. You can reach the concierge at any time over the phone or you can even chat with them using a convenient app with a messaging interface.

 

There are many VIP hotels and travel benefits that will make this card worthwhile, too. You will be able to make use of spa credits, room upgrades, and much more while you are traveling. This card is partnered with many hotel and travel properties, ensuring that you will have a fantastic experience no matter where you go. The savings potential at high-end hotels is really great and will be perfect for those who love to travel.

black card luxury card

 

Rewards Program Info

The rewards program of this credit card is not quite as impressive as the benefits of being a cardholder. Regardless, the rewards are still very helpful and can make using this card even easier for you. You will be able to earn one point for every dollar that you spend using this credit card. Depending on how you choose to redeem your points, this is either going to work out to one percent or two percent cash back.

 

If you redeem your earned rewards for airfare, then you can enjoy the two percent cash back rate. It will be an effective way to help yourself mitigate some of your travel costs. Even so, this rewards rate is not all that impressive when you consider how much the annual fee is. There are many credit cards out there that offer a higher rewards rate than this.

 

You need to understand that the rewards are pretty much a secondary concern with this credit card. The real appeal of the card is the benefits that you receive for being a cardholder. Rewards are just kind of there as an added benefit. If you can make use of the amazing benefits of this credit card, then you will begin to see the appeal very quickly. Otherwise, there are superior rewards programs offered by other credit cards that you should look into.

 

The Pros

  • Amazing benefits
  • Offers rewards that can be very helpful
  • Good introductory APR period

 

The biggest positive to take away when reading about this credit card is that it offers amazing perks. If you are looking for a credit card that will give you access to many luxurious benefits, then this is going to be perfect for you. You will gain entry into many amazing airport lounges around the world. You will also receive other great benefits, such as access to a 24/7 concierge service.

 

Making use of these rewards can really make being a cardholder a worthwhile experience. When you want to have the best possible benefits as a traveler, signing up for this card makes sense. You will receive the VIP experience at many hotels and there are lucrative discounts and credits that you can take advantage of. It can really go a long way toward justifying that large annual fee.

 

The rewards program may not be quite as robust as some would like, but it is still a useful feature. You will be able to earn one point for every dollar that you spend and the points can add up pretty fast. If you redeem your points toward airfare, then you will be able to maximize your reward potential. There may not be any bonus categories or interesting cash back options, but it does offer you good standard rewards.

 

The introductory APR period is actually quite good, too. You will be able to avoid interest for 15 months on purchases and balance transfers. You can really make good use of this chunk of time and it makes the card more practical for many people. If you like the idea of being able to enjoy a very good APR for a lengthy chunk of time, then suddenly this card has increased appeal. The APR after the introductory period is over is pretty good overall, too.

mastercard black card

 

The Cons

  • High annual fee
  • Balance transfer fee
  • Lacks reward options
  • No sign-up bonus

 

The high annual fee is going to be the first big hurdle that you will need to overcome to make use of this card. The annual fee of $495.00 is going to make it less practical to sign up for this card for some people. If you do not travel often enough to justify this large fee, then you may want to turn elsewhere for a new credit card. The fee can pay for itself with the credits and discounts that you can gain access to, but you have to be able to make use of these conveniences often enough.

 

The various other fees may prove problematic to some people as well. If you don’t like having to pay balance transfer fees, then you might be a little hesitant about this card. The three percent balance transfer fee during the introductory period is not too bad, but it does go up to five percent afterward. Keep the fees in mind as you will want to be comfortable with them to move forward.

 

Rewards options may be lacking in comparison to many other credit cards on the market. As noted earlier, this card is less about the rewards and more about the amazing benefits. It is still a bit disappointing that the rewards program is not offering a bit more to customers. The redemption options are adequate, but they fail to truly separate themselves from the pack of other similar credit cards.

 

You should also not expect a sign-up bonus when you make use of this credit card. There is no associated sign-up bonus and that might come as a bit of a disappointment. You will not be able to earn any extra money through meeting a certain spending threshold such as with many other credit cards. It doesn’t matter too much, but some people will see it as a negative.

 

Credit Score Needed for Approval

You will not be able to get approved for this credit card unless you have an excellent credit score. It is highly recommended that you do not apply unless you have a credit score in the high 700’s. Those with only good credit will likely be turned down. It will be helpful to check your credit score ahead of time to avoid any disappointment.

 

Who Does The Black Card Appeal to Most?

Most of the people who are going to sign up for this credit card will be regular travelers. It is not a credit card that offers specific travel rewards, but most of the benefit are related to traveling. If you travel on a regular basis, then you will be able to enjoy many amazing perks. It can make your travel experience that much nicer and you will love the positives of being a cardholder.

 

People who like having access to luxury perks will enjoy this card too. Things such as the 24/7 concierge service, will be very compelling reasons to sign up for this card. If you like the idea of owning a credit card that gives you access to some serious perks, then you might fall in love with the MasterCard Black Card. It just depends on how much you can make use of the included benefits and whether or not the middling rewards program is adequate enough for your needs.

luxury card black card

 

An Alternative to Consider

The Platinum Card from American Express may wind up being a good alternative to consider. It is another credit card that comes in with a high annual fee, but it offers similarly good benefits for being a cardholder. You will be able to take advantage of being a card member by gaining access to some of the best airport lounges in the world. There are various other perks that make having this credit card worthwhile.

american express platinum card

Amex Platinum Card

60,000 points after spending $5,000 in 3 months

$550 Annual Fee

LEARN HOW TO APPLY >>

See our full review of the Amex Platinum Card.

 

This card will also offer you a standard one percent rewards program that allows you to rack up rewards over time. The similarities between this card and the MasterCard Black Card are undeniable. Which one is going to be the better value is really up to you to decide. You have to examine the benefits of both of the cards and see which one you think will be more useful.

 

Compare the Black Card Benefits to the Chase Sapphire Cards Also

 Chase Sapphire Reserve
Chase Sapphire Preferred
Signup Bonus50,000 Points after $4000 in first 3 months60,000 Points after $4000 in first 3 months
Earning Rates3X Travel & Dining2X Travel & Dining
UR Travel Portal - Redemption Value1.5 Cents per Point1.25 Cents per Point
Travel Credit$300N/A
Lounge AccessPriority Pass SelectN/A
TSA PreCheck or Global EntryFull Statement Credit for Either ($85/$100)N/A
Authorized User Fee$75$0
Annual Fee$450$95
Best for People Who...Want a large introductory bonus

Want luxury travel benefits

Travel often
Want a large introductory bonus

Want the annual fee waived year 1

Like to Travel
Learn More >>Learn More >>

 

Decision Time: Is the Mastercard Black Card the Right Luxury Card for You?

The MasterCard Black Card is a very good credit card that will appeal to a specific type of person. If you travel a lot and want to be able to enjoy the VIP experience, then you will love this credit card. The benefits of being a cardholder are extensive and it will improve the quality of your traveling experience. Some people will shy away from the card due to the high annual fee, but it is worthwhile for those who can use the perks regularly.

 

Try to think about whether or not you will be able to use the benefits of this credit card often enough. If you travel a lot, then this card will likely be a great comfort to you. Occasional travelers and those who like to keep their costs low will not be able to use the card as effectively. You also need an excellent credit score to qualify for this card, so it is targeted at a certain demographic.

 

Now that you know everything that there is to know about the MasterCard Black Card, it will be a lot easier to decide for yourself. It is a superb credit card in many ways even if it is lacking some features. The rewards program may not be as robust as many would like, but it is still beneficial. Gaining access to those incredible airport lounges may be reason enough for you to sign up.

Mastercard Black Card

Introductory Offer:

No intro offer

Rewards:

You'll earn 1% rewards on all purchases.

Benefits:

Stainless Steel Card.
Airfare redemptions are worth 2 cents per point.
Cash back redemptions are worth 1.5 cents per point.
$100 airline credit.
Global Entry.
Priority Pass Select.
Luxury Gifts.
24/7 Concierge

Annual Fee:

$495

Our Thoughts:

With no introductory offer, this luxury card lacks the value of other luxury travel cards from Chase or Amex.
LEARN MORE >>
Summary
Review Date
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Mastercard Black Card
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Advertiser Disclosure: Travel Freedom has partnered with CardRatings for our coverage of credit card products. Travel Freedom and CardRatings may receive a commission from card issuers.
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