All You Need To Know About The Visa Black Card (Now Mastercard Black Card)

All You Need To Know About The Visa Black Card (Now Mastercard Black Card)
Eric Goldschein
on March 17, 2020
Read in 1 min

If you are looking for a 2019 review of the Visa Black Card, also known as the Luxury Card from Barclaycard, there’s good news and bad news.

The bad news is that the Visa Black Card is no longer.

The good news is that the same product is now available, just rebranded as the Mastercard Black Card, with some new benefits and rewards

This card had some issues in its previous iteration.

Now that it’s gone through a transformation, is it worth considering, especially considering its high annual fee?

This credit card review should answer your questions

Need Cash? Get a Personal Loan Today

$5,000
I want to borrow
$1,000
$35,000

What is the Mastercard Black Card?

The black Luxury Card is one of three tiers you can get from Barclaycard, along with the Titanium and Gold levels.

This card comes with all kinds of services, a decently high initial credit limit, and a big annual fee that you’ll want to weigh against other cards in this class.

What benefits does it come with?

Other than being a nice stainless steel card (which, if you’re getting this card because it’s nice to hold, you don’t need this review), you’ll want to know these important benefits:

  • 24/7 Luxury Card Concierge (good for event planning, travel, shopping, and more)
  • 5% value for cash-back bonuses
  • 2% value for airfare redemptions
  • $100 annual airline credit toward qualifying purchases (such as baggage fees or in-flight food and drink)
  • $100 Global Entry application fee credit
  • Worldwide acceptance
  • Periodic luxury gifts
  • Enrollment in VIP airport lounge program
  • Typical insurance, warranty extensions, and purchase protections

Some of these benefits are new to the Mastercard edition of the card and are an upgrade from what the Visa card offered.

What are the numbers I need to know?

The card comes with an annual fee of $495, which is higher and may not be worth the benefits if you don’t spend big or travel much

Other important numbers include:

  • 0% introductory APR for the first 15 billing cycles on balance transfers made in the first 45 days
  • A regular APR of 16.24% variable
  • A FICO score of 720+ is required to gain card approval
  • Spending allowances average between $20,000—$25,000

How does this card stack up to its competitors?

When it comes to the Black Card vs. other cards in this class, many find this card’s offerings to be a little lacking considering the price tag.

While the new card is an improvement over the old one, and it does boast some benefits that its Amex or Discover rivals don’t match, you may want to consider other credit card options with lower annual fees and bigger savings, benefits, and rewards.

However, the offering may improve as Barclays considers to tinker with the rebranding of the card, so stay tuned, especially if you are already a Barclays customer.

Need Cash? Get a Personal Loan Today

$5,000
I want to borrow
$1,000
$35,000
Eric Goldschein Finance Journalist

Eric Goldschein is a freelance journalist who covers entrepreneurship, small business trends, emerging technologies, culture and sports.

He was previously the managing editor of SportsGrid.com, and has written for Business Insider, Trep Life, the Huffington Post, Fundera and more.

Important Disclosures. Please Read Carefully.

Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend. Lendgenius.com is not a lender or lending partner and does not make loan or credit decisions. Lendgenius.com connects interested persons with a lender or lending partner from its network of approved lenders and lending partners. Lendgenius.com does not control and is not responsible for the actions or inactions of any lender or lending partner, is not an agent, representative or broker of any lender or lending partner, and does not endorse any lender or lending partner. Lendgenius.com receives compensation from its lenders and lending partners, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer. Regardless, Lendgenius.com’s service is always free to you. This service is not available in all states. If you request to connect with a lender or lending partner in a particular state where such loans are prohibited, or in a location where Lendgenius.com does not have an available lender or lending partner, you will not be connected to a lender or lending partner. You are urged to read and understand the terms of any loan offered by any lender or lending partner, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. By submitting your information via this website, you are authorizing Lendgenius.com and/or lenders and lending partners in its network or other intermediaries to do a credit check, which may include verifying your social security number, driver license number or other identification, and a review of your creditworthiness. Credit checks are usually performed by one of the major credit bureaus such as Experian, Equifax and Trans Union, but also may include alternative credit bureaus such as Teletrack, DP Bureau or others. You also authorize Lendgenius.com to share your information and credit history with its network of approved lenders and lending partners. For qualified consumers, our lenders offer loans with an Annual Percentage Rate (APR) of 35.99% and below. For qualified consumers, the maximum APR (including the interest rates plus fees and other costs) is 35.99%. All loans are subject to the lender’s approval based on its own unique underwriting criteria. Example: Loan Amount: $4,300.00, Annual Percentage Rate: 35.99%. Number of Monthly Payments: 30. Monthly Payment Amount: $219.36. Total Amount Payable: $6,581.78 Loans include a minimum repayment plan of 12 months and a maximum repayment plan of 30 months. In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lender’s rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Lender’s or Lending Partner’s Disclosure of Terms.

The lenders and lending partners you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender or lending partner based on the lender’s or lending partner’s internal policies, underwriting criteria and applicable law. Lendgenius.com has no knowledge of or control over the loan terms offered by a lender and lending partner. You are urged to read and understand the terms of any loan offered by any lenders and lending partners and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Late Payments Hurt Your Credit Score

Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lenders and lending partners immediately and discuss how to handle late payments.