MoneyGeek’s Take

Mastercard® Black Card™ Review

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ByDoug Milnes, CFA
Reviewed byAlene Laney
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ByDoug Milnes, CFA
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Reviewed byAlene Laney
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Updated: March 20, 2024

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  • Mastercard® Black Card™

    A great travel reward card with no foreign transaction fee and many travel benefits.


    • 1% Cash BackRewards Rate
    • 21.24%, 25.43% or 28.24% variableAPR
    • $495 ($195 for each Authorized User added to the account)Annual Fee
    • ExcellentRecommended Credit

    We recommend the Mastercard® Black Card™ to people who don’t mind paying its $495 annual fee to avail premium benefits. This stainless steel/carbon card from the house of Luxury Card gives you 24/7 access to the Luxury Card Concierge service, which you may use to make travel bookings, get tickets to special events and carry out a variety of personal requests.

    You stand to earn up to $100 in air travel credit each year, Global Entry/TSA PreCheck application fee credit, access to VIP airport lounges through Priority Pass Select and extensive complimentary travel insurance coverage. Cardholders also get access to Mastercard’s Priceless Surprises, Priceless Golf and Priceless Cities. Using this card outside of the U.S. is perfect because it charges no foreign transaction fees.

    The Mastercard® Black Card™ lets you capitalize on your spending by offering one reward point per dollar you spend on purchases. Redeeming your points for airline tickets offers 2% value, whereas you get 1.5% value if you redeem them for cash back.

    This card also comes with a 0% intro APR on balance transfers for the first 15 billing cycles, and a competitive standard APR on purchases.

    Pros

    • No foreign transaction fee
    • 0% intro APR offer on balance transfers
    • Get one point for every dollar spent
    • No expiration date for the points
    • $100 airline credit
    • Travel accident insurance
    • Trip cancellation insurance

    Cons

    • Very high annual fee
    • No sign-up bonus
    • High regular APR
    • Pay no foreign transaction fees
    • Get up to $250,000 travel accident insurance
    • Transfer balance from another card at 0% intro APR
    • Get $100 in airline credit
    • Get other travel benefits worth $500
    • Get up to $100 per day in baggage delay insurance
    • Get up to $5,000 in trip cancellation insurance

    Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.

    Mastercard® Black Card™
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MoneyGeek’s methodology for this review involves collecting credit card information, standardizing data points, analyzing potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.

With this card, you earn one point per dollar spent on every purchase. These points do not expire as long as the account remains open. You can redeem these points at a rate of 1.5 cents for every point as cash back or for airline tickets at 2 cents for every point.

Mastercard® Black Card™ Overview

The Mastercard® Black Card™ offers a premium list of rewards and bonuses for its customers. These rewards are tailored to the needs of frequent travelers.

Quick Take

  • Pay no foreign transaction fees
  • Get up to $250,000 travel accident insurance
  • Transfer balance from another card at 0% intro APR
  • Get $100 in airline credit
  • Get other travel benefits worth $500
  • Get up to $100 per day in baggage delay insurance
  • Get up to $5,000 in trip cancellation insurance

Important Card Details

The fine print of the Mastercard® Black Card™ will help you understand the various fees and charges associated with the card like its regular APR, annual fee, points rewards rate, balance transfer APR and foreign transaction fee.

    highInterestAPR icon

    Regular APR

    This card has a reasonable variable regular APR of 19.99%. You should pay off your balance in full every month to avoid accumulating a high amount of interest on your balance.

    annualFee icon

    Annual Fee

    With a striking $495 yearly fee, this card can prove to be quite expensive if you are not a frequent traveler. Although there are many travel benefits offered, the annual fee is still high.

    rewards icon

    Points Reward Rate

    You get one point for every dollar you spend with this card. To maximize your rewards, you should use it for travel expenses as much as possible.

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    Balance Transfer APR

    You can transfer the balance from another card within 45 days of opening the account, and you’ll qualify for an intro balance transfer APR of 0%, then a variable APR of 19.99% thereafter.

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    Foreign Transaction Fee

    This card is mainly focused on travelers; that’s why it doesn’t have foreign transaction fees.

Additional Benefits

With the Mastercard® Black Card™, you also get access to more travel benefits.

  • 24/7 concierge service: To help you save time while traveling, you have access to a 24/7 luxury concierge service through phone, live chat and email.
  • Baggage delay insurance: If your baggage gets delayed for any reason, you can get up to $100 per day as compensation.
  • Trip cancellation insurance: In case of canceled flights due to covered reasons, you’ll have insurance up to $5,000 worth of coverage.

How the Mastercard® Black Card™ Compares To Other Cards

As compared to other cards in the same category, Mastercard® Black Card™ has a very high annual fee and does not offer enough rewards to justify it.

How the Mastercard® Black Card™ Compares

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Mastercard® Black Card™

  • Purchase APR: 19.99%
  • Annual fee: $495
  • International transactions fee: $0
  • Points reward rate: 1 point per dollar spent
  • Best for: Elite travelers looking for a luxury travel rewards card
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Chase Sapphire Preferred Card

  • Purchase APR: 21.24% – 28.24% variable
  • Annual fee: $95
  • International transactions fee: $0
  • Points reward rate: 1-5 points in different categories
  • Best for: Frequent travelers looking for a card with a good points reward rate

Frequently Asked Questions

What is the average credit score needed to get approved for Mastercard® Black Card™?
Does Mastercard® Black Card™ report to all three credit bureaus?
Is the Mastercard® Black Card™ application process lengthy? Can you prequalify?
What information is needed to apply for a Mastercard® Black Card™?
Does Mastercard® Black Card™ have good customer service or satisfaction?
Does Mastercard® Black Card™ have a mobile app or the option to pay or manage your account online?
Does Mastercard® Black Card™ raise credit limits automatically or charge for limit increases?
Does Mastercard® Black Card™ offer the option to freeze your credit/account or have other security features?
Does Luxury Card offer other credit cards besides Mastercard® Black Card™?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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