Mastercard® Black Card™ review: Is it worth the annual fee?

MASTERCARD® BLACK CARD™ BENEFITS

The CardName is one of three options in the Luxury Card offerings from Mastercard, along with the CardName and the CardName. Of the three, the CardName is in the middle in terms of annual fee and benefits.

The CardName is a high-end card and is a great addition to your wallet if you live a high-end lifestyle and travel frequently, allowing you to take full advantage of the benefits available.

It carries a AnnualFees annual fee and a $195 fee for additional cards. However, those fees are more than covered by the slew of attractive perks offered. These include a $100 annual travel credit that can be used for airline tickets, baggage fees, upgrades, etc. This credit amount is available in full at the start of the calendar year. There is also a $100 statement credit that covers the application fee for Global Entry (a program that allows expedited arrival into the USA from international locations) and TSA Pre✓®.

CardName cardholders are enrolled in the Luxury Card VIP Travel program, providing perks such as room upgrades and complimentary food, beverage, and spa credits at more than 3,000 properties across the globe. Also included in the VIP Travel program are car rental privileges, cruise privileges, charter services, chauffeured transportation, and airport meet and assist.

The rewards program for the CardName is fairly straightforward. Cardholders earn one point for every $1 spent. Unfortunately though, there is no signup bonus to get the ball rolling. However, when it comes time to redeem your points, you have a couple of options. Redemption for airline travel is worth 2%, while redemption for cash back is worth 1.5%.

Cardholders also have access to a 24/7 concierge service that tailors options to your personal tastes. It can help you put together a luxury travel itinerary, help you find unique and impossible-to-find gifts, and more.

The CardName has a variable interest rate of RegAPR. There is intro 0% APR on balance transfers for 15 billing cycles (and then RegAPR), but there is a fee of BalanceTransferFees

For frequent travelers, carrying the CardName offers the type of perks and benefits that will make sure you are treated like a VIP: shorter wait times when dealing with TSA and customs, access to special VIP lounges, upgrades on airlines and at hotels, etc. It's also great for those who frequently travel abroad as there are no foreign transaction fees associated with this card.

What truly grabs our attention though is the 24/7 concierge service that is worthy of the name. Are you finding it impossible to get a Christmas gift for your child? Do you need tickets to that "must-see" show for important clients? How about help putting together an over-the-top luxury itinerary for a special anniversary trip? Solutions are just a phone call away.

A rewards program that is straightforward and offers options for redemption is always a welcomed feature for cardholders as well. The 1:1 points to dollars spent ratio isn't spectacular but there are no limitations on qualifying purchases. If you use your card, the points will add up. When you choose to redeem your points, you have the option of redeeming for air travel vouchers, worth 2%, or cash back as a statement credit, worth 1.5%. That means 75,000 miles are good for $1,500 in travel, or $1,125 as a statement credit.

FEATURED CARD

 

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• Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
• $0 intro annual fee for the first year, then $95.
• Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
• Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
• 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
• 6% Cash Back on select U.S. streaming subscriptions.
• 3% Cash Back at U.S. gas stations.
• 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
• 1% Cash Back on other purchases.
• Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
• Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That's $10 in statement credits each month. Enrollment required.
• Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
• Terms Apply.

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Terms and Limitations Apply

Credit Needed:

Good, Excellent

MASTERCARD® BLACK CARD™ REQUIREMENTS

Anyone can apply for the CardName, but not just anyone can be approved. Though the exact score needed for approval is not explicitly stated, applicants need excellent credit to open an account.

The credit bureau Experian considers a score between 740-799 to be "very good," and anything above 800 as "excellent." Please note though that these numbers can vary between different bureaus.

Even if your credit score is good enough to be approved for the Luxury Card Mastercard Black Card, a bigger consideration may be whether you can comfortably pay its AnnualFees annual fee. Adding an authorized user is another $195. Before applying for the card, be sure the cost makes sense for your budget and that the rewards you earn will justify the expense.

MASTERCARD® BLACK CARD™ ANNUAL FEE

As we briefly mentioned above, the AnnualFees annual fee and $195 fee for additional cards are substantial. If you aren't sure you'll be doing a great deal of traveling and won't be able to take full advantage of the benefits offered with the CardName, it might not be worth the expense.

While the rewards program is very good, though not eye-popping, the lack of any type of sign-up bonus as an incentive to make that initial investment is also unfortunate. As a consumer, it's always nice to be offered some type of enticement to make you feel wanted.

MASTERCARD® BLACK CARD™ CARDHOLDER SCORES

CardRatings conducts a survey annually to learn what actual cardholders think of their cards. Here are the results:

*Scores above reflect the results of surveys with actual cardholders. Full methodology below.

HOW MASTERCARD® BLACK CARD™ COMPARES TO OTHER CREDIT CARDS

CardName vs. CardName

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While the annual fees are similar (AnnualFees versus AnnualFees for Reserve®), there are notable differences between these cards.

The CardName helps to offset the annual fee with a $100 annual travel credit, while the CardName offers a $300 annual travel credit.

Both cards offer access to special VIP lounges at airports across the globe.

In terms of rewards programs, the CardName has no introductory bonus offer and awards one point for each dollar spent on all purchases. CardName offers three points for each dollar spent on travel (after earning your annual travel reimbursement) and restaurant purchases and one point on everything else. Additionally, earn 5X total points on flights and 10X total points on hotel and car rentals when purchased through Chase Travel℠ (immediately after earning your annual travel reimbursement). It also offers an introductory bonus of 60,000 points if you spend $4,000 in the first three months you have the card. Because you get 50% more value when you redeem points for travel through through Chase Travel, this bonus is worth $900 in travel.

When it comes time to redeem your points, CardName redeems points at 2% for airline travel and 1.5% for cash back. CardName redeems points at 1.5% for travel through the Chase Travel and 1% for gift cards or a statement credit.

The CardName has an interest rate of RegAPR, compared to RegAPR (depending on credit worthiness) for the CardName.

CardName vs. CardName

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The CardName is the ultra premium offering in the Luxury Card line from Mastercard. The first key difference between the Gold card and Black card is the annual fee. The Mastercard Gold card has an eye-watering AnnualFees annual fee, which is more than double the Black card's fee. This increased fee includes a $200 annual travel credit that can be used for things like airfare, baggage fees, upgrades, and more. The Black card’s $100 annual travel credit is half that offered by the Gold card. The redemption rate for the Gold card is also noteworthy as points can be redeemed for 2% value for airfare redemptions as well as cash back redemptions. The Black card offers the same 2% value for airfare redemptions but only 1.5% value for cash back redemptions, giving the Gold card the edge when points are redeemed for cash back. Additionally, you still earn one point for every $1 spent.

One drawback of both cards is that neither of them include a new cardmember welcome bonus, which can make the sizable annual fees more difficult to justify. Terms and conditions apply

CardName vs. CardName

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American Express is a CardRatings advertiser.

With many similar luxury travel benefits, CardName is a great alternative to the Mastercard® Black Card™. Both cards have an included annual airline fee credit, with the Black Card™ including a $100 annual travel credit that can cover airline tickets, baggage fees, upgrades, etc. The Amex Platinum Card® has a $200 annual fee credit, double the Mastercard® Black Card™, that can cover incidental airline charges, like baggage fees and in-flight refreshments, with a qualifying pre-selected airline. Both cards include complimentary Priority Pass™ Select membership giving you access to over 1,300 lounges at airports in more than 500 cities. The Platinum card Card® takes lounge access to the next level with the Global Lounge Collection®, as well as exclusive American Express Centurion® Lounges, offering travelers more lounge options than any other card on the market.

Some key differentiators between the two cards are the new cardmember welcome bonus and the annual fee. With the Platinum card new cardholders can earn 80,000 bonus Membership Rewards® points after making $8,000 in purchases in the first six months of card membership. The Black card does not have a new cardmember welcome bonus. The annual fee for the Platinum card is higher at AnnualFees versus the AnnualFees annual fee for the Mastercard® Black Card™. Enrollment required for select benefits.

IS MASTERCARD® BLACK CARD™ WORTH IT?

The CardName can be a nice addition to the wallet but only for a specific type of consumer. To be approved for the card you will need excellent credit, and to take advantage of the full benefits of the card, you should be a frequent traveler who spends a significant amount of money each year on luxury items.

If you are a frugal spender with a modest income, you will miss out on many of the benefits of this card and will likely find the AnnualFees annual fee to be prohibitive.

Terms and conditions apply

Survey Methodology: CardRatings commissioned Op4G in September 2023 to conduct surveys among 1,869 cardholders nationwide. CardRatings website analytics from Jan. 1, 2023-Aug. 31, 2023 were used to determine a selection of the most popular cards and additional cards were included to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents' scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to "How likely are you to recommend this card to a friend, coworker or family member?" was double weighted. “Current Scores” reflect scores from the most recent survey (2023); "Past Scores" reflect scores from the 2022 survey.

See Rates and Fees for the CardName.