Visa Launches Exclusive Black Card, A Credit Card with $495 Annual Fee

Visa just launched Black Card, an exclusive credit card with a $495 annual fee. The reward include cash back or airline miles, concierge service, a patent pending carbon graphite card, and free luxury gifts.

Visa just launched Black Card, an exclusive credit card with a $495 annual fee.  The rewards include:

  • 1% cash back or airline miles without any blackout dates.
  • 24-hour concierge service.  
  • A patent pending carbon graphite card as you can see to the left.
  • Free luxury gifts.
  • 0% APR for 6 months on balance transfers.
  • VIP access to more than 500 travel lounges around the world.
  • EXCLUSIVITY.  Let's face it, this is the real seller of the card.  The card is limited to fewer than 1% of US resident.  So assuming you want it, unless you have a fat wallet to begin with, you aren't getting it.

The rates on the card are competitive but certainly not exclusive.  But I guess if you want the card you probably aren't worried about carrying a balance.  The standard APR is 13.99% variable.  Balance transfers are 0% fo the first six billing cycles and then it goes to 13.99% APR.  Cash advances are 19.99% APR.

Visa is taking a page out of American Express's playbook with Black Card.  For most credit card holders, the rewards aren't great.  1% cashback is low compared to some of the other top rewards credit cards.  And the annual $495 fee means that only those that want to flash the patent pending graphite carbon alloy blend would fit into the card's target market. 

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Comments

  • ktexas

    December 19, 2008

    the few, the proud, the Visa Black Card holders....

  • targets

    December 20, 2008

    Exclusive? 1% of US population = 3 million cards. The Amex Cent has a little over 10k cards issued. A $500 credit card is for middle managers who pretend to be well off. In order to get a real Black Card (and we all know that's Amex Centurion), one of the criteria is to pay a $5000 joining fee which pays for 10 years of Visa 'Black Card', not to mention the $2500 annual fee charged by Amex.

    This is simply a cheap marketing ploy by Visa, and they won't be able to get any market share from Amex. The Centurion member base and Visa 'Black Card' member base are totally two different class of people. There is no comparison.

  • greggy

    April 10, 2009

    I tried to get accepted for the black card but it didn't work so I just ordered a blackcardkit from blackcardkit.com . It worked pretty good.

  • Foolish

    June 04, 2009

    I really don't understand the point to these cards rather being Amex or Visa. When you have the deep pockets, a normal Visa will give you as high a limit as you want & if you want to buy that jet, the assistant takes care of all that anyway so getting airline miles is useless. If you want to be poser then the black card is for you but if you truly have wealth then your employees take care of these details. When your self made or just plain sensible it makes no sense to pay for a credit card, if they want my business then it comes free.

  • Phx1454

    August 28, 2009

    I just recieved the Visa BlackCard application in the mail...I must be part of the exclusive 1%...I earn $72K a year..cool!!

  • bighatnocows

    August 30, 2009

    i received an invitation to apply for the black card. for me it doesn't make sense to pay $495 annual fee when i can get a regular card with no annual fee with 2% cash back. granting i can afford it, but i am not the type to advertise that i am a millionare....so yes, i declined

  • PDX88

    September 24, 2009

    I got an invitation from the mail to be a member of the Visa Black. I was skeptical at first, so I had to check it on the web. But it looks like the real thing. Does it mean I belong to the top 1 percent of the US population?... that's a complement.
    In the end, I won't get one, im pretty much happy with my cards. And besides, I have a Blue Amex which I can use to shop at Costco.

  • johnny

    October 28, 2009

    I have been unemployed since Jan. '09 and I got an invitation in the mail to be a member of Visa Black. Just what defines Visa's 1% anyway??!??!?

  • Alan

    July 17, 2011

    They're talking about the 1% stupid enough to pay $495 / year for the privelege of a credit card.

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