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You may have heard of the visa black card as one of the most prestigious cards that one can acquire. Unfortunately, the Visa Black card is no longer available, and that is because it was rebranded.

MasterCard acquired the Visa Black card in 2016, after which it rebranded to Luxury Card™ Mastercard® Black Card. However, there are many cards like it from different providers. But what makes black cards so appealing? They can deliver the highest offerings that a credit card could offer. Some of the perks that these cards offer include round-the-clock concierge services and gifts.

Despite the existence of many such cards, the Luxury Card Mastercard Black Card stands out because one can apply for it online as opposed to receiving an invitation. However, you will need a strong credit profile.

What kind of limits should one expect from black cards?

  1. High card limits

Note that cardholders that own black cards usually have higher incomes and this allows them to secure high credit card limits. The average spending allowance for a black card may range from $20,000 to $25,000, but the limit will likely increase overtime depending on various factors such as account usage.

  1. High annual fees

As noted earlier, owning a black card comes with many perks, but those perks come at a hefty price. You will have to part with around $400 or more every year to own and use a black card. But then again if you are rich enough to afford a black card, then you can afford the accompanying fees.

Most of the providers evaluate the applicant’s spending habits and account size to determine whether they are eligible to be a black cardholder. They also analyze your credit score even if you have a lot of money in your account. For example, an excellent credit score is a necessity for anyone to qualify for a Luxury Card™ Mastercard black card. One’s FICO index credit score must be above 720.

If you are looking or a luxury card Mastercard black card alternative, consider the Chase Freedom Unlimited plan card or the Capital One Venture Rewards Credit Card. Some other alternatives include the Chase Sapphire Reserve and the Blue Cash Preferred Card.