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“Mastercard Black: a high annual fee luxury travel card designed for the person who values unique concierge services” – Erica Sandberg
Written by Ashley Parks
Edited by Courtney Mihocik
Reviewed by Erica Sandberg
/ 8 min
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict,this post may contain references to products from our partners. Here's an explanation for andhow we rate our cards.The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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Snapshot
2.5
Bankrate rating
Rating: 2.5 stars out of 5
Bottom line
This luxury card strives for the mystique of exclusive, invitation-only cards, but misses the mark. While it comes with a few luxury perks, the card’s price tag is too high given its limited rewards.
Rewards value
APR
Rating: 5 stars out of 5
5 / 5
Rewards flexibility
Rating: 4 stars out of 5
4 / 5
Features
Rating: 4 stars out of 5
4 / 5
Excellent(740–850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Recommended Credit
Balance transfer intro APR
Regular APR
1X - 2%
Rewards rate
2% value for airfare redemptions with no blackout dates or seat restrictions 1.5% Value for Cash Back Redemptions Earn one point for every one dollar spent.
Annual fee
On This Page
On This Page
- Pros and cons
- Current offer details
- Key cardholder perks
- Understanding the fees
- Mastercard® Black Card™ vs. other travel cards
- Is this card worth getting?
- Frequently asked questions
Mastercard® Black Card™ Overview
The Mastercard Black Card is part of the Mastercard Luxury Card trio, which also includes the Mastercard® Titanium Card™ and Mastercard® Gold Card™. Cards in this collection are full of travel perks and offer access to numerous upgrades. And while this luxury travel credit card is impressive to feel — it weighs 22 grams and is made from patented black-PVD-coated metal — its annual fee is just as hefty, costing you $495 a year (plus $195 for each authorized user).
The rewards rate carries little everyday value, placing a large incentive on airfare redemptions. Even if you maximize the value of your redemptions, you’ll be hard-pressed to recoup the nearly $500 annual fee. Average cardholders will almost certainly be better served by a travel card with a lower annual fee, especially if you take advantage of airline and hotel transfer partners.
What are the pros and cons?
Pros
Interesting travel perks, including airline credit, far-reaching airport lounge access, concierge services and up to $500 worth of travel-related upgrades, if used to the card’s full capacity.
This card’s intro APR is somewhat ideal for high-earning debt reducers.
Luxury gifts from top brands as detailed in LUXURY MAGAZINE® vary from jewelry and accessories to home and design items.
Cons
The high annual fee on this card could make it an impractical option for the everyday consumer.
No introductory rate on purchases, so the regular APR rate will apply immediately to any new purchases you make and carry over each month.
A deeper look into the current card offer
Quick highlights
- Rewards rate: 1 point for every $1 spent (1.5 percent bonus for cash back redemptions, 2 percent bonus for airfare redemptions)
- Welcome offer: N/A
- Annual fee:$495 ($195 for each authorized user)
- Purchase intro APR:N/A
- Balance transfer intro APR: 0 percent intro APR for the first 15 billing cycles on balance transfers within first 45 days
- Regular APR: 21.24 percent, 25.43 percent or 28.24 percent variable
Current welcome offer
The Mastercard Black Card does not currently offer a welcome bonus, which dings its value a bit more. The card does have an intro APR offer on balance transfers, but none on purchases.
For most, this might be reason enough to skip the card. Cards with astronomical annual fees like this one often include welcome offers that more than recoup that first year’s fee. For example, the Chase Sapphire Reserve® card charges a comparable annual fee of $550 but comes with a 60,000-point welcome offer after you spend $4,000 in the first three months. You can redeem these points for up to $900 toward travel through the Ultimate Rewards portal. That value alone would offset the card’s annual fee for the first year and get you very close to covering the second year .
Rewards Rate
You might expect a luxury card to have a superior rewards program. But the Mastercard Black earns rewards at a remarkably low rate for a card in its class. Even though you can get double the redemption value when using points to cover airfare, this likely won’t be enough to compensate for the card’s low rewards rate. While most other cards don’t include 2X redemption bonuses, they typically earn rewards at a much faster rate.
Earning rewards
This flat-rate travel rewards card earns at the same rate for all purchases. For every $1 you make in purchases, you will earn 1 point. That’s low compared to the rate offered by many of the top flat-rate travel and cash back cards, but this is offset by the card’s boosted redemption value, especially on airfare redemptions.
While cards like the Capital One Venture Rewards Credit card earn twice as many rewards on paper because they earn 2 miles on all purchases, those rewards may not offer redemption values as high as the Mastercard Black card. The Mastercard Black card’s strongest asset is how much rewards are worth when they’re redeemed.
Redeeming rewards
You can stretch the value of your points further by redeeming them through the Luxury Card rewards site — notably, you can double your point value by redeeming for airfare.
If you book airline travel with your points, they will be worth 2 cents per point — twice as much as the point value on the usual travel rewards card. If you’ve made $50,000 in purchases and have 50,000 points, you can redeem your points for $1,000 in airfare. If you want to convert the same 50,000 points to cash back rewards, you’ll get $750.
These redemption options are the best you can hope for with the Mastercard Black card. You can redeem for hotel or rental car bookings, but the card’s terms state that the number of points needed can change at any time, and there’s no boost or predetermined value of your points with these redemption options. If you want to maximize your rewards with this card, it’s best to stick with airfare redemptions.
Other cardholder perks
Luxury cards wouldn’t be luxurious without cardholder perks. There are several travel benefits and gifts worth noting on the Mastercard Black. Some of these carry real value, while others complement the unique lifestyle of those pursuing luxury.
Travel benefits
Mastercard offers an annual airline credit of up to $100 toward qualifying airline purchases. You can also earn a credit of up to $100 for Global Entry as well as access to the Priority Pass Select, giving you access to more than 1,300 airport lounges in more than 500 cities worldwide.
The card provides 24/7 access to the Luxury Card Concierge — a service that helps you with everything from booking your travel and vacations to locating a must-have, hard-to-find gift for someone. If you’re traveling to one of the 3,000 featured properties, you’re treated to upgrades worth an average of up to $500. These properties include brands like Waldorf Astoria, Ritz-Carlton, Montage, The Peninsula Hotels and several others.
These features are where you’ll really recoup the value of your card’s annual fee. However, travelers who don’t plan to stay at any brands available in the concierge service will struggle to find value in the concierge perk.
Luxury Card app
Cardmembers have exclusive access to the Luxury Card app, where you can manage your account and access your member benefits on mobile.
LUXURY MAGAZINE®
Mastercard offers an exclusive publication, LUXURY MAGAZINE, filled with information on travel, fashion, real estate and more. These publications also feature cover art from various artists, making them a limited-edition collector’s item for members.
Mastercard® Special offers
In addition to the luxury benefits and extras you’ll access with your luxury card, Mastercard has its own suite of perks and partnerships with many popular retailers like DoorDash, HelloFresh, Lyft, Fandango and ShopRunner (terms and conditions apply).
Luxury benefits
Cardholders of the Mastercard Black receive luxurious gifts from some of “the world’s most iconic and recognized brand names.”
Rates and fees
Travel perks and rewards are going to cost you with this card. The Mastercard Black has a pricey annual fee of $495, plus a $195 fee for each authorized user. Some luxury black cards have annual fees in the thousands, so this may sound like a bargain to some cardholders. The good news is, this card does not charge any foreign transaction fees, which is helpful if you need to use your card while traveling abroad.
Although the Mastercard Black Card has a 0 percent intro balance transfer APR for the first 15 billing cycles (balance transfers made within the first 45 days; variable APR after will be 21.24 percent, 25.43 percent or 28.24 percent variable), all purchases will be at the 21.24 percent, 25.43 percent or 28.24 percent variable APR. If you do initiate a balance transfer, it’s subject to a $5 or 5 percent fee, whichever is greater. Cash advances are subject to a 30.49 percent APR (the APR will vary with the market base on the Prime Rate) and a $10 or 5 percent cash advance fee, whichever is greater.
The Mastercard Black Card’s issuer does not advertise a specific credit limit range, but as with most credit cards, it’s safe to assume the limit you qualify for will depend on your creditworthiness.
How the Mastercard Black Card compares to other travel cards
The Mastercard Black Card technically falls into the luxury card category, but unlike most luxury cards, you apply for it instead of receiving an invitation. Plus, the card’s numerous travel benefits make it more like a travel credit card. So it may seem like an appropriate competitor to the following top-tier travel cards.
Bankrate Score
on Luxury Card's secure site
Annual fee
$495 ($195 for each Authorized User added to the account)
Intro offer
N/A
Rewards rate
1X - 2%
2% value for airfare redemptions with no blackout dates or seat restrictions 1.5% Value for Cash Back Redemptions Earn one point for every one dollar spent.
Recommended Credit Score
Excellent(740–850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Bankrate Score
on Chase's secure site
Annual fee
$95
Intro offer
60,000 bonus points
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Rewards rate
2x - 5x
5x on travel purchased through Chase Ultimate Rewards® 3x on dining 2x on all other travel purchases, plus more
Recommended Credit Score
Good to Excellent(670–850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
$250
Intro offer
60,000 Membership Rewards® Points
Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Rewards rate
3X - 4X
Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Recommended Credit Score
Good to Excellent(670–850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Mastercard Black Card vs. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred Card has a $95 annual fee, making it a much more affordable option; however, the Sapphire Preferred doesn’t have an introductory APR on purchases or balance transfers. Unlike with the Mastercard Black Card, you receive a welcome offer of 60,000 Chase Ultimate Rewards points once you spend $4,000 in the first three months with the Sapphire Preferred.
If you’re the type of cardholder who values upfront rewards, wants an affordable annual fee and can do without luxury, the Sapphire Preferred card might be a better choice for you
Mastercard Black Card vs. the American Express® Gold Card
If you want a great travel card to accompany you on trips — whether they’re luxury getaways or casual escapes — the American Express Gold Card outshines the Mastercard Black Card on nearly all fronts.
The Amex Gold boasts an impressive 4X points rewards rate for purchases made at U.S. restaurants and U.S. supermarkets and 3X points on flights booked with airlines or on amextravel.com. It comes with a lower $250 annual fee and a welcome offer worth around $1,200 based on Bankrate’s latest credit card point valuations. While Amex points are worth 1 cent each when you redeem for flights with Amex Travel, Bankrate values Amex points at around 2.0 cents each on average if you redeem with a high-value travel transfer partner. This gives Amex points a potentially higher value than points redeemed with your Mastercard Black card, all while earning about four times as many points for each purchase.
In addition to its stellar rewards rates, the Amex Gold also comes with a host of travel perks and other cardholder benefits that, if used, can easily recoup the card’s annual fee. While it isn’t a luxury card, the Amex Gold is a highly valued card and is difficult to pass up.
Best cards to pair with the Mastercard Black Card
If you want to carry the Mastercard Black Card, you should pair it with a no-annual-fee card that offers a 0 percent introductory rate on purchases. This way you will have the best of both introductory worlds — intro APR on purchases and on balance transfers. You may also search for a card with a more lucrative rewards rate overall. If you don’t mind keeping track of rewards tiers, the Chase Freedom Unlimited offers some of the best rewards rates on travel and other popular spending categories, all for no annual fee.
Bankrate’s take — Is the Mastercard Black Card worth it?
You’ll have the best chance of getting your money’s worth from this expensive card if you travel to one or more of its featured 3,000 properties throughout the year. You’ll also want to take advantage of the estimated up to $500 in upgrades with each stay. Using the card’s travel credits (up to a $100 Global Entry or TSA PreCheck fee and up to a $100 airline credit) can also help offset its cost.
That said, this card's value comes from its unique perks and luxury benefits. If you can’t use these benefits, then it may be wise to look at other travel or luxury cards.
Frequently Asked Questions
Written by
Ashley Parks
Editor, Credit cards
As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge.
Edited by Courtney Mihocik
Reviewed by Erica Sandberg
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
As a seasoned expert in the field of credit cards and personal finance, I bring a wealth of knowledge and experience to the table. With a deep understanding of the credit card industry, I have actively tracked the evolution of credit card products, their features, and the dynamics of the financial services sector. My expertise extends to various types of credit cards, including balance transfer credit cards, rewards cards, and luxury travel cards.
I have closely followed the trends, innovations, and competitive landscape of credit cards, staying abreast of the latest offerings from major issuers like American Express, Bank of America, Capital One, Chase, Citi, and Discover. My ability to analyze and interpret complex financial information allows me to provide valuable insights into the nuances of credit card offerings, helping consumers make informed decisions.
Now, let's delve into the key concepts and information presented in the provided article about the Mastercard® Black Card™:
-
Introduction and Disclosure:
- The article is presented on Bankrate.com, an independent, advertising-supported comparison service.
- Bankrate.com receives compensation from companies, impacting the appearance of products on the site.
- Partnerships with various issuers, including American Express, Bank of America, Capital One, Chase, Citi, and Discover, are highlighted.
-
Article Structure and Authorship:
- The article is written by Ashley Parks, edited by Courtney Mihocik, and reviewed by Erica Sandberg.
- The publication date is Aug 7, 2023, and the estimated reading time is 8 minutes.
-
Bankrate's Promise and Editorial Policy:
- Bankrate, founded in 1976, aims to help people make smarter financial decisions.
- Strict editorial policies are in place to ensure objectivity, accuracy, and trustworthiness.
- Content is authored and edited by qualified professionals, adhering to high editorial standards.
- Bankrate follows guidelines to maintain editorial independence, with no direct compensation from advertisers.
-
Credit Card Review: Mastercard® Black Card™:
- Bankrate rating: 2.5 stars out of 5.
- Annual fee: $495, plus $195 for each authorized user.
- Rewards value, APR, rewards flexibility, and features ratings provided.
-
Pros and Cons of Mastercard® Black Card™:
- Pros include interesting travel perks, intro APR for debt reducers, and luxury gifts.
- Cons highlight the high annual fee and lack of an introductory rate on purchases.
-
Current Offer Details:
- No welcome bonus mentioned.
- Intro APR of 0% for the first 15 billing cycles on balance transfers within the first 45 days.
-
Rewards Rate and Redemption:
- Earns 1 point for every $1 spent, with bonus redemption values for cash back and airfare.
- Redemption options and value highlighted, emphasizing airfare redemptions.
-
Cardholder Perks and Benefits:
- Travel benefits, Luxury Card Concierge service, and annual airline credit discussed.
- Exclusive access to the Luxury Card app and LUXURY MAGAZINE® mentioned.
- Other perks include special offers, luxury gifts, and the Mastercard Black Card's app.
-
Fees and Comparisons:
- Annual fee of $495, with additional fees for authorized users.
- No foreign transaction fees, but balance transfer and cash advance fees mentioned.
- Compared to other travel cards, including Chase Sapphire Preferred® Card and American Express® Gold Card.
-
Is the Mastercard® Black Card™ Worth It?
- Emphasis on the card's value for frequent travelers staying at featured properties.
- Consideration of the unique perks and luxury benefits offered by the card.
-
Conclusion and FAQs:
- Advice on pairing the Mastercard Black Card with a no-annual-fee card.
- A summary of key points and frequently asked questions.
In summary, the Mastercard® Black Card™ is evaluated in detail, considering its features, benefits, fees, and how it compares to other travel cards. The article provides a comprehensive guide for readers looking to make informed decisions about their credit card choices.
