Mastercard Black Card Credit Card Review
January 10, 2020
Get rewarded with the Black Card
Big spenders who demand luxury might enjoy the refined Mastercard Black Card. It’s delivered in an elegant custom box, on a custom cherrywood tray and weighing in at 22 grams so cardholders can feel luxury in-hand. Each card has a unique stainless steel front and carbon back, with the card boasting 46 global patents in construction and design.
The rewards are as significant as the card’s look. For an annual fee of $495, cardholders earn 2% value when redeeming points for travel and 1.5% cash value back, with no foreign transaction fees. Plus, cardholders get access to VIP concierge treatment, hundreds of dollars in potential travel credits each year, airplane lounge access and much more. From the look of the card to the rewards it offers, the Black Card lives up to its luxury description.
What to expect from the Black Card
- APR: 16.49% for purchases and 26.74% for cash advances
- Annual Fee: $495; $195 for each authorized user added to the account
- Reward Rates: Earn one point for every $1 spent. Get 2% value for airfare redemptions on any airline with no blackout dates or seat restrictions. Earn 1.5% value for cash back redemptions. Cash back is deposited directly into a U.S. bank account or applied as a statement credit.
- Intro Offer: Get a 0% introductory APR for the first 15 months following each balance transfer that posts to the account within 45 days of the account opening.
- Get an average of $500 worth of benefits per stay at more than 3,000 properties, like spa credits, room upgrades and complimentary food and beverage.
- Receive an annual $100 credit toward airline-related purchases, including flight tickets, baggage fees and more, plus a $100 Global Entry and TSA PreCheck application fee credit.
- Cardholders also get complimentary access to more than 1,200 airport lounges worldwide.
- The security and protection features with this card are exceptional, including fraud liability protection.
- Enjoy cellular telephone protection that covers eligible damage or theft of an eligible cellular wireless telephone.
- Identity theft resolution services are provided 24 hours a day, seven days a week, with assistance for card replacement and with notifying credit agencies about identify theft.
- Rack up cash back rewards for Postmates and Lyft by using the Black Card. Receive $5 off eligible orders of $25 or more when you use your card for Postmates orders. Get a $10 Lyft credit each month when you enroll and take five eligible rides in a month using your card.
- Black Card members who love entertainment and golf also get rewarded. Get access to invitation-only events and insider opportunities, exclusive golf offers and experiences with the PGA Tour and the Tournament Players Club network of private golf courses.
- The Black Card also provides 5% cash rewards on eligible Boxed orders, a complimentary ShopRunner membership for free two-day shipping and free return shipping on eligible purchases, a 10% discount on eligible onefinestay bookings for rental homes and villas around the world and Fandango VIP membership for double points on tickets.
But keep your eyes open for pitfalls
The Black Card lacks a major points intro offer, which some other travel rewards cards provide. For example, the Chase Sapphire Reserve card provides 50,000 bonus points after you’ve spent $4,000 in transactions within the first three months. You also get a bigger annual travel credit with the Chase Sapphire Reserve, at $300, plus 3x points on restaurants and travel around the globe and one point per dollar spent on all other transactions. You can earn 50% more value with the Chase Sapphire Reserve card when you redeem points for travel through Chase Ultimate Rewards. The annual fee and authorized user fees are slightly lower, as well, at $450 and $75, respectively.
Another card to consider with a bonus intro offer is the Citi Prestige Credit Card, which has the same $495 annual fee as the Black Card. You can earn 50,000 bonus points after spending $4,000 within the first three months. The card provides 5x points on dining and flights, 3x points on cruises and hotels and 1x points on all other purchases. You also get a $250 travel credit every year, compared to the Black Card’s $100 travel credit.
How to maximize your Black Card rewards
Use your Black Card for travel purchases, since you get secondary coverage for a covered roundtrip flight when you use your card. Non-refundable, roundtrip expenses up to $5,000 per insured person are refundable if covered events cause you to interrupt or cancel your trip for a covered reason.
Cardholders also get 24/7 travel assistance, including medical assistance and a legal referral service, plus an auto rental collision waiver. Travel accident insurance provides up to $250,000 in coverage for eligible accidental death and dismemberment when you purchase your entire trip with your Black Card. For baggage delays that last more than four hours after you arrive at your destination, you can also get up to $100 a day for up to three days as compensation.
Put the Black Card’s Luxury Card Concierge complimentary lifestyle management service to use for tailored recommendations and global service expertise. You can use it for everything from travel and dining reservations to accommodations and car rentals. Black Card lists some innovative ways it can be used, from lining up a Jumbotron marriage proposal to getting theme park tickets purchased for you while you’re waiting in line. You can even get school district recommendations or emergency medicine delivered by using the Luxury Card Concierge, available 24/7.
The Black Card offers lots of high-level perks – including an app with access to concierge agents and a quarterly “Luxury” magazine covering topics like travel, real estate, automobiles, technology and fashion. Plus, cardholders get 24/7 card customer assistance.
For luxury cardholders who want their cash back rewards to be just as meaningful as their travel rewards, the Black Card is a good option. But if you want a travel rewards card that emphasizes the travel side of the rewards, and one that provides bonus point offers, other luxury cards may be a better fit.