Visa Black Credit card is a credit card that is designed for the super rich who live a luxury lifestyle. Visa introduced this card in December 2008 and the card made of carbon graphite offers many special personal services for its holder. However, it is limited to those who have a perfect credit score and can spend upwards of $50,000 a year.
Benefits of a Visa Black Card
A visa black card offers 1% cash back on all purchases made by the card holder. Another benefit is a Travel Lounge Priority Pass which provides exclusive access to more than 600 luxury airport lounges across the world. The card comes with a 0% APR on balance transfer for the first 6 months of card usage. A 24-hour concierge service is offered to the person with information on a variety of services. Cardholders of the Black Card can enjoy many helpful insurance benefits with no costs attached. Presenting a Visa Black card is a great way to get admission to the exclusive nightclubs and restaurants across the globe. Card members are offered luxury gifts from some of the world’s top brands.
Who is Eligible for a Visa Black Card?
The card is actually issued by Barclays Bank, not by Visa. To become eligible for a Visa Black Card, One has to be a resident of the United States and he/she should have a social security number. It is estimated that less than 1% of the people who apply actually receive a card. One should have a perfect FICO score to be eligible. Although, not specified officially, an annual income of more than $ 100,000 and a good spending history is preferred. These requirements make most of the Americans out of reach of a Visa Black Card.
Comparing Visa Black Card With other Luxury Credit Cards
Remember, Visa Black Card is not meant for daily purchases in your friendly neighbourhood grocery store. The credit limit on a Black Visa card is generally in the millions of US dollars. Compared to other luxury cards, Black Visa Card has a smaller fee of $495 a year. Its main competitor in the luxury card segment, the American Express Centurion card charges an annual fee of $2500 plus an initial charge of $5000. The Visa Black Card carries almost all perks as the Centurion Card, and requirements for obtaining it are much easier.
Reference: The Smarter Wallet,by Millie Kay G, site viewed on Feb 15, 2011
Unnikrishnan k - I am a 25 year old freelance writer, graduated in Electronics Engineering . I have been writing for last on year for Digitaljournal and ...
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