The Visa Black Card markets itself as an elite, prestigious rewards credit card. It is targeted at consumers with excellent credit who have above-average incomes and who spend substantial amounts each year on travel and luxury hotels. The annual fee for the Visa Black Card is $495. In comparison, both the Platinum Card from American Express and the Citi Prestige card have an annual fee of $450. The Visa Black Card is issued by Barclays Bank Delaware.
New card members have the opportunity to earn 25,000 bonus points upon approval. To be eligible, you must make at least $1,500 in purchases on the card within the first 90 days after your account is opened. Balance transfer checks do not qualify for this offer nor do credits or returns. The annual fee of $495 does not apply towards the $1,500 spending threshold.
New account holders also receive a 0% introductory annual percentage rate on balance transfers for the first 15 billing cycles after each transfer is made. All balance transfers must be completed within the first 45 days that your account is open to be eligible. After this time, your APR on balance transfers will be 14.99% based on the Prime Rate. Balance transfer fees will be either $5 or 3% of the total amount of each transfer. These fees are not waived during the introductory period.
There is no introductory APR offered to new members on purchases or cash advances. Your APR will be 14.99% or more (and 25.24% or more for cash advances) – at Barclays discretion based on the market.
Card members earn 1% cash back on every eligible purchase made with the Visa Black Card. Cash back is given in the form of an account credit only. In addition, cardholders receive a 2% value when purchasing airline tickets through the card’s Exclusive Rewards Program. For example:
- If you want to redeem 15,000 points, these can be used as a 1% statement credit ($150).
- However, if you redeem these same 15,000 points for airline tickets (via the Exclusive Rewards Program) you will receive 2% value or $300 towards your ticket cost.
There is no minimum point requirement for redemption.
The Visa Black Card provides members with additional benefits such as:
- Stainless steel/Carbon card
- Exclusive 24/7 Concierge Service
- VIP Treatment at over 3,000 Luxury Properties
- Unlimited VIP Airport Lounge Visits
Cardholders are not charged foreign transaction fees when using the Visa Black Card while traveling abroad.
Below we’ve broken down the specifics of the Visa Black Card to help in determining if it’s worth signing up.
New account holders can earn 25,000 bonus points upon approval. To be eligible, you must spend a minimum of $1,500 on purchases within the first 90 days your account is open. Credits, returns and balance transfers do not count towards this spending threshold. The $495 annual fee also does not qualify as a purchase for this offer. As bonus offers go, this one is solid for new cardholders. The spending amount is reasonably low and 90 days is relatively generous.
In practical terms, the 25,000 bonus points you earn can be redeemed as a $250 statement credit (1% value) or as a $500 credit towards an airline ticket (2% value). All airline tickets must be purchased through the Exclusive Rewards Program.
Bonus points will post to your account at the close of your first billing statement after the qualifying purchases have been made.
0% introductory APR:
New card members receive a 0% introductory annual percentage rate on all balance transfers for the first 15 billing cycles after each transfer is made. To qualify, all balance transfers must be completed and post to your account within 45 days from the time your account is approved and your card is activated. There is a fee of $5 or 3% of the total amount of the transfer (whichever is greater) applied to each balance transfer. This fee is not waived during the introductory APR period. After this time, the APR will be 14.99% or more – based on the Prime Rate.
A balance transfer may take up to 4 weeks to post to your account.
Balance transfers are subject to availability. Balance transfer requests may be denied at any time and for any reason.
Simple rewards program:
Card members earn 1 point for every eligible dollar spent on the Visa Black Card. There are no rotating categories or signup required.
Easy to redeem points:
Card members can redeem points for a statement credit at the rate of 1 point equals 1%. For example, 15,000 points can be redeemed for a $150 statement credit. There is no minimum amount of points required.
Added value for airline redemption:
A perk for frequent travelers is the added value available (2%) when you redeem points for airline tickets. Tickets must be purchased through the Exclusive Rewards Program to be eligible for the 2% value rate. As an example, 15,000 points can be redeemed for a $300 credit towards the ticket purchase.
Additional Visa Black Card benefits:
Cardholders receive exclusive Visa Black Card rewards including the following benefits:
- Stainless steel/Carbon card- The card is literally different from its competitors- it’s made of stainless steel and carbon.
- Exclusive 24/7 Concierge Service- Access to 24/7 assistance to help with all your needs- travel, hotels, restaurants, entertainment, and more.
- VIP Treatment at over 3,000 Luxury Properties- Receive VIP treatment at over 3,000 hotels, villas, and resorts around the world- including spa treatments, complimentary breakfast, early check-in, late check-out, and room upgrades.
- Unlimited VIP Airport Lounge Visits- Receive complimentary membership and unlimited visits to over 350 airport lounges in over 200 cities worldwide.
No foreign transaction fees:
Card members are not charged foreign transaction fees on purchases made on the Visa Black Card outside of the U.S.
High annual fee:
The annual membership fee is $495 with additional cards costing $195. This is high compared to similiar 1% rewards cards.
Cash back is only given in the form of a statement credit.
No introductory APR on purchases:
New members do not receive any introductory APR on purchases.
Card members earn 1% on all eligible purchases which is rather weak compared to many other rewards cards, especially more premium cards such as the Platinum Card from American Express. And while card members receive double value (2% on points) when redeeming towards airline tickets – this is only for tickets purchased through the Exclusive Rewards Program.
Rewards are given in the form of a statement credit only.