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.
MoneyGeek’s Take
Mastercard® Black Card™ Review
Updated: September 10, 2024
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Mastercard® Black Card™
On Issuer's Site
Rewards Summary
Earn 1X points on everything (worth 1.5% cash back...Earn 1 point per dollar on every purchase (2% bonus for cash back redemptions, 2% bonus for airfare redemptions)
APR
21.24% – 29.24%Annual Fee
$495 ($195 for each Authorized User added to the a...Recommended Credit
740-850 (Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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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.
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.
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.
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.
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.
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.
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
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
Chase Sapphire Preferred® Card
- Purchase APR: 21.49% – 28.49% 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™?
You need an excellent credit score exceeding 800 to get approved for a Mastercard® Black Card™.
Does Mastercard® Black Card™ report to all three credit bureaus?
Yes, Mastercard® Black Card™ reports to all three credit bureaus.
Is the Mastercard® Black Card™ application process lengthy? Can you prequalify?
In some cases, you can get a response to your application instantly; however, it can also take up to 10 working days. You can apply online for the card.
What information is needed to apply for a Mastercard® Black Card™?
Generally, your legal name, birth date, address, Social Security number and annual income are required.
Does Mastercard® Black Card™ have good customer service or satisfaction?
Yes, Mastercard® Black Card™ has strong customer support, and its customers are frequently pleased with the service they receive.
Does Mastercard® Black Card™ have a mobile app or the option to pay or manage your account online?
The Mastercard® Black Card™ has a mobile app that lets you manage your account effectively.
Does Mastercard® Black Card™ raise credit limits automatically or charge for limit increases?
The Mastercard® Black Card™ raises credit limits automatically after analyzing the account after a few months.
Does Mastercard® Black Card™ offer the option to freeze your credit/account or have other security features?
Mastercard® Black Card™ offers many security features to keep your account safe, and you can easily freeze your account at any time.
Does Luxury Card offer other credit cards besides Mastercard® Black Card™?
Yes, Luxury Card also offers the Mastercard® Gold Card™ and Mastercard® Titanium Card™.
About Doug Milnes, CFA
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.
sources
- Luxury Card. "Mastercard® Black Card™." Accessed August 30, 2021.
*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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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.