Mastercard Black Card Review

Full Review of Mastercard Black Card

Pros Explained

• Rewards can be redeemed for values above 1 cent per point: Points can be redeemed for airfare at a value of 2 cents per point. If you’d rather have cash back, you can redeem points for cash back at a value of 1.5 cents per point. These redemption values are some of the best in the industry.
• Introductory 0% APR on balance transfers: If you transfer a balance within the first 45 days of opening your account, that balance will qualify for an introductory 0% APR for the first 15 billing cycles. Many cards only offer 12 months.
• $100 airline credit: As a cardholder, you'll receive up to $100 in credit each year for flight-related purchases. Eligible purchases include airline tickets, baggage fees, and even upgrade fees.
• Extensive travel benefits: The Mastercard Black Card offers several useful travel benefits, including up to a $100 credit to cover application fees for Global Entry (expedited arrival into the U.S. from international destinations) and TSA PreCheck, Priority Pass Select, baggage delay insurance, trip cancellation, and interruption coverage. Also, it charges no foreign transaction fee.

Cons Explained

• No one-time offer: Unfortunately, this card does not offer an initial bonus—an unusual omission. Competing travel credit cards with annual fees almost always come with one.
• $495 annual fee: Annual fees are common on premium travel credit cards. That said, the $495 annual fee that comes with this card is higher than some competing cards that offer comparable benefits.
• Earn only 1 point per $1 spent: Even though the value of each point earned is above a penny per point, the 1-point-per-$1 spent earnings rate is low. The card does not offer bonus categories that can earn additional points, as many competing premium travel cards do.

Who This Card Is Best For

The Mastercard Black Card is for frequent travelers with excellent credit who want the exclusivity associated with one of the sharpest-looking stainless steel credit cards available and the luxury benefits that the card offers. The points earning rate doesn't offer any additional value compared to no-annual-fee credit cards. Luckily, the travel benefits are extensive.

Even so, the high $495 annual fee makes this card difficult to recommend to most consumers. Other cards offer similar benefits with at least the same if not higher point-earning potential for a similar or lower annual fee.

Rewards Earning Details

Earning rewards with this card is as straightforward as it gets. There is no limit to the number of points you can earn, and your points never expire. Unfortunately, other details are less appealing. You earn an unimpressive 1 point per $1 spent on all purchases. 

What's more, other cards typically offer higher earning rates in certain bonus categories, especially cards with high annual fees. Even some cards without an annual fee offer similar rewards-earning rates on all purchases.

Rewards Redemption Details

You have many options to redeem the points you earn, but one stands out as the best value: buying airline tickets. You can redeem rewards for airfare at a value of 2 cents per point by calling the number on the back of your card or by booking using InComm InCentives on the My Luxury Card website. 

Other options provide a lower redemption value for your points: 

• Cash back in the form of a direct deposit to a U.S. bank account or a statement credit at a value of 1.5 cents per point
• Hotel and car rentals at a value determined at the time of booking
• Gift card or merchandise redemptions that vary based on your gift card or merchandise selection

Cash-back bank deposit redemptions are limited to $500 per day. Even with these high point redemption values for airfare and cash back, the total rewards earned per $1 spent are, at most, equal to those that you can earn on every purchase with a no-annual-fee credit card.

How to Maximize Your Rewards

Maximizing your rewards is simple with this card. Use it for all eligible purchases to earn the most points possible. To get the most value when redeeming your points, you'll need to book airfare by calling the number on the back of your card or using InComm InCentives on the My Luxury Card website.

Other cards offer rewards worth the same value but do not charge an annual fee. However, those cards do not usually offer the same travel benefits that the Mastercard Black card offers.

  Mastercard Black Card's Outstanding Benefits

• Airport lounge access: Get complimentary access to over 1,200 airport lounges with Priority Pass Select.
• Annual $100 airline credit
• Baggage delay insurance: Get reimbursed for replacing essential personal or business items if your baggage is delayed on a common carrier flight.
• Global Entry fee reimbursement
• Travel benefits: An average value of $500 in travel benefits and services per stay may include spa credits, complimentary food and beverages, room upgrades, and welcome perks.
• Trip cancellation and interruption coverage: Receive secondary coverage of up to $5,000 per trip.

Standard Benefits

• Auto rental collision waiver secondary to other insurance
• Concierge for booking event tickets, travel, and other services
• Exclusive invitation-only experiences
• Extended warranties
• Price protection
• Purchase assurance for damaged or stolen items
• Satisfaction guarantee refund for covered purchases when vendors won’t accept returns

Cardholder Experience

While it isn't widely advertised, the Mastercard Black Card is issued by Barclays U.S., which ranked 7^th out of 11 card issuers in the 2022 J.D. Power U.S. Credit Card Satisfaction Study—and below the national issuer average.

This card offers a Luxury Card app and a 24/7 Luxury Card concierge. You can reach customer service for the Luxury brand cards at 844-589-2273.

Security Features

Cardholders can expect standard security features with this card. In addition, the card has chip technology, as well as expedited card replacement if you happen to lose your card.

Hidden Fees to Watch Out For

This card's high $495 annual fee does come with some premium benefits. However, you can find similar benefits offered by other cards with lower annual fees and equal or greater rewards-earning potential, too. Additionally, the $195 authorized user fee is steep, and the cash advance fee is higher than that charged by some other cards.

If you plan to transfer a balance, watch out for the balance transfer fee of $5 or 3% of the balance transfer amount, whichever is greater. Some cards offer introductory periods with no balance transfer fees at all.

Final Verdict

The Mastercard Black Card's high $495 annual fee makes it difficult to recommend for most consumers or even frequent flyers. The value of the rewards you earn can be matched by no-annual-fee credit cards. Moreover, this card doesn't even offer a sign-up bonus.

The card does offer numerous luxury travel and purchase benefits, though. Those who journey abroad often, for business or leisure, might well enjoy them. Also, if you value exclusivity, premium benefits, and the feel of a substantial piece of stainless steel and carbon in your palm, this card may be a good fit for you.