Black Mastercard review

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Black Mastercard review

Mastercard® Black Card ™

Mastercard Black Card information was independently collected by CNBC and was not reviewed or provided by the card issuer prior to posting.

  • Awards

    Earn 1X point for every dollar, 1.5% value on cash refunds, and 2% value on airline ticket redemptions

  • Welcome bonus

  • Annual subscription

  • Intro APR

    0% for the first 15 billing cycles following each balance transfer posted to your account within 45 days of opening the account; N / A for purchases

  • Regular APR

  • Balance transfer fees

    Either $ 5 or 3% of the amount of each transfer, whichever is greater.

  • Foreign transaction fees

  • Credit needed

Advantages

  • 1.5% value on cash refunds
  • 2% value on airline ticket exchanges
  • 24/7 Luxury Card concierge service and travel benefits
  • No charges on purchases made outside of the United States

The inconvenients

  • $ 495 annual fee
  • Low rate of rewards on daily purchases

Rewards Mastercard Black Card

While the appeal of a black card is mainly in its travel benefits and concierge services, the Mastercard Black Card can still earn you points every time you spend: 1X point for every dollar.

It’s not the most generous rewards program, but your points may be more valuable depending on how you choose to redeem them. Cardholders earn 1.5% on cash refunds, which can be applied as statement credit, and 2% on airline ticket refunds (with no blackout dates or seat restrictions). This means that accumulating 50,000 points can earn you a $ 1,000 ticket on any airline of your choice.

Additional benefits

Black cards are known to help relieve the stress of a high demand lifestyle while also filling your days with luxury and fun. Below is a list of some of the benefits you can enjoy with the Mastercard Black Card:

  • 24/7 Luxury Card Concierge: Helping busy cardholders manage their busy lives, the personal concierge assists them with everything from travel reservations to creating lasting memories. Such experiences listed on the Mastercard Black Card website include assisting a cardholder to offer on the Jumbotron in Times Square in New York City and arranging for an emergency delivery of Tylenol in the middle of the harms the sick child of a cardholder.
  • VIP access to airport lounges with Priority Pass ™ Select: No matter where you go, black card holders can relax and dine in one of the many free lounges you have access to before your flight.
  • Annual air credit: Receive up to $ 100 in annual air travel credit for flight-related purchases. This can include everything from your plane ticket to an upgrade to first class.
  • Global Entry and TSA Pre✓® application credit: Receive a $ 100 credit on your statement to cover the Global Entry application fee, which means getting through the airport faster than ever after international travel.
  • Cell Phone Protection: Coverage for damage and theft.
  • Travel insurance: Cardholder coverage for contingencies including baggage delays, travel accidents and trip cancellation.
  • Carpooling : Earn $ 10 Lyft Credit for completing 5 races in one month.
  • Mastercard® Priceless®: This benefit allows you to enjoy exclusive invitations to the events that interest you most, whether you are passionate about sports, concerts, shopping, culinary experiences or art.

Costs

The Mastercard Black Card charges an annual fee of $ 495, plus $ 195 for each authorized user.

In comparison, the Chase JP Morgan Reserve has an annual fee of $ 595 (Value penguin reports) and the American Express Centurion card has a steep annual fee of $ 5,000, in addition to the one-time $ 10,000 initiation fee when you sign up (according to its agreements with cardholders).

There is an introductory 0% APR for the first 15 billing cycles following each balance transfer that is posted to your account within 45 days of opening the account, but there is no interest-free period on purchases. The Regular Variable APR is 16.49% and there is a Balance Transfer Fee of $ 5 or 3%, whichever is greater.

For those traveling abroad for business or pleasure, there are no foreign transaction fees.

At the end of the line

The Mastercard® Black Card ™ is a great card for credit card holders looking to get the most out of life, especially if you have a busy or demanding schedule. Its 24/7 Luxury Card concierge helps you plan your life so you can be there for what matters most to you.

But not everyone is so busy that they need the help of a black card. While the Mastercard Black Card has a lower annual fee than other elite credit cards, applying for it may not make the most sense for your lifestyle.

If you’re looking to pay a lower annual fee while still enjoying plenty of rewards, one of the CNBC Select programs best rewards cards can be a better costume. For example, the American Express® Gold Card has a lower annual fee of $ 250 and gives members 4X points per dollar on qualifying purchases at US restaurants and supermarkets (up to $ 25,000 per year in purchases) and 3X points on flights booked directly with airlines or on Amextravel.com, plus 1X points on other qualifying purchases. (See prices and fees).

Information about the Mastercard® Black Card ™, American Express Centurion® Card, and Chase JP Morgan Reserve® was independently collected by CNBC and was not reviewed or provided by the card issuer prior to publication. .

To find out the rates and fees for the American Express® Gold card, click on here.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


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