A Black Credit Card — known simply as a Black Card — is a type of credit card used only by the richest of the rich. Designed for lavish spenders with high-tier needs, these luxury credit cards come with luxurious perks you can’t get with ordinary credit cards. The catch is that Black Cards come with strict eligibility criteria, heavy spending requirements and enormously expensive fees that can easily reach up to thousands of dollars per year.
What is a Black Credit Card?
Viewed as a status symbol, Black Card holders can safely say they’ve financially “made it.” Very few people are privileged enough to own such a card. In fact, out of more than 100 million American Express cardholders globally, it’s rumoured that only around 84,000 of them own an American Express Centurion Credit Card — the first, and most well-known, Black Credit Card in the world. There are also some great alternatives to Black Credit Cards in Canada, which we highlight below.
Where can you get a Black Credit Card?
No single credit card company owns the sole rights to issue Black Credit Cards, and there is no universally-accepted definition of what counts as a Black Credit Card. Rather, the term “Black Card” is used generally to refer to the most exclusive credit cards in the world that multiple card issuers offer as a reward to top-spending clients.
That being said, the first such card to be released, the American Express Centurion Black Card is often referred to simply as the “Amex Black Card” and is perhaps the most well known Black Card on the market today.
American Express, Mastercard and a number of other financial institutions in Canada, the US and around the world offer different versions of Black Credit Cards, each with its own unique fees and features.
Black Card features
Black Credit Card programs are typically loaded with premium features designed to make living and spending as easy as possible for cardholders. Below are just some of the benefits of owning a Black Card:
Service at your fingertips
Need a hard-to-get reservation at a high-end hotel? Want to upgrade your boring rental sedan to a luxury SUV? Feel like champagne and oysters at 3am? Complimentary Black Card concierge services have you covered. Of course, you’ll still have to foot the bill for any items that don’t come for free with your card (some Black Cards offer shopping credits to stores like Saks Fifth Avenue). Card services will handle the rest.
A full range of complimentary perks
When shopping for credit cards, you normally have to weigh fees against perks and add-ons, ultimately choosing a card with the best combo of what you want at a reasonable cost. But with Black Credit Cards, you typically don’t have to sacrifice any perks. Cardholders can enjoy a generous suite of complimentary travel insurance coverage, airport lounge access and other valuable add-ons along with standard credit card features.
Cash back or rewards points
Many Black Cards offer cash back or rewards points like other cards on the market. Surprisingly, the earning rates aren’t usually much higher than what you could earn with an ordinary credit card. The primary benefit of owning a Black Credit Card seemingly has more to do with prestige and convenience.
Premium card construction
Black Cards are made with premium materials like metal, which gives cards a durable and substantial or weighty feel. Some card providers even embed diamonds or other precious elements into cards to let cardholders flex their wealth even more.
How do you qualify for a Black Card?
The greatest intrigue of Black Credit Cards is how people qualify to get one. The truth is — no one really knows. Black Card issuers keep eligibility criteria under strict confidence. Even cardholders don’t know what formula (if any) is applied during the approval process.
To deepen the mystery, some Black Credit Cards programs are invitation only, meaning there’s no application process. You can’t get a card unless the card provider reaches out to you first.
Generally, you must satisfy the following criteria to be considered for a Black Credit Card:
You must have a high net worth. Given that annual fees can start around $1,000 per year and entry fees can range from hundreds to $10,000 or more, card providers want to be assured that you can afford to maintain your status in the program. Furthermore, high net worth individuals can afford to make expensive purchases, go on luxurious vacations and travel frequently, making them likely to meet minimum spending requirements and cash in on Black Card perks.
You must be a big spender. Credit card companies make money off interest fees, and Black Card programs are expensive to service. Approval for a Black Credit Card usually requires a history of big spending on another account with the same card provider as well as adherence to a minimum annual spending requirement (or else you’ll face steep interest charges). Minimum spending amounts can easily reach 6 figures annually.
You must already be a client of the issuing financial institution. Some Black Cards are only offered to people who use other services offered by the same financial institution like wealth management, banking or investment services.
You must reside in an eligible country. Black Card providers typically require that cardholders reside in certain regions, which depends on the countries in which the provider operates or where it’s based. Some Black Credit Card providers may allow nonresidents to open an account from outside a country to qualify for a Black Card issued within the country. However, laws and regulations in some nations prohibit this option.
6 of the most popular Black Cards on the market (plus premium Black Card alternatives)
Since the AMEX Centurion Black Card was released in 1999, a number of card issuers have designed prestigious cards programs to rival its popularity and cater to top-tier spenders. The list below highlights some of the most popular Black Cards on the market today. Find out which Black Cards are available to residents of Canada and how to apply (or if an application process even exists).
Card details — including rates, fees and qualification criteria — may change over time. Check with the card issuer to get the most up-to-date information.
American Express Centurion Black Card (Amex Black Card)
Issued by: American Express (AMEX)
Available in what countries? No known geographical restriction (open to residents of Canada)
Annual fee: $5,000 USD
Initiation fee: $10,000 USD
APR: This is a charge card, so balances must be paid off in full each billing period or a penalty APR of Prime + 25.99% will apply.
Physical card: Made of anodized titanium and weighs almost 14 grams.
Regarded as the most exclusive credit card in the world, the Centurion Black Card comes with personalized concierge and shopping services, VIP Airport Arrival Services at major airports, top-tier membership in elite hotel clubs, gym credits, shopping credits and more. Cardholders can also enjoy zero foreign transaction fees and rewards points on every transaction. The “Pay Over Time” feature lets users go beyond the billing period to pay for purchases without incurring a penalty interest rate (at the time of writing, the APR for Pay Over Time purchases is Prime + 12.74%).
Must have a substantial net worth, be an AMEX Platinum cardholder and charge an undisclosed amount to your card per year (estimated to be around $250,000 USD or higher). Must also have an excellent credit score.
By invitation only.
Alternative: The Platinum Card from American Express
The Platinum Card from American Express is an engraved metal card with a hefty annual fee of $799– but the benefits can far outweigh the costs. Note that this is a charge card, not a regular credit card, so you must pay off the balance in full every month or a 30%interest rate will apply. Earn 2 points for every $1 in card purchases on eligible travel. Plus, enjoy complimentary access to airport lounges worldwide.
Signup bonus. Earn up to 100,000 Membership Rewards points. Earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your card in the first 3 months. Plus, earn 30,000 points when you make a purchase between 14 and 17 months of cardmembership.
Rewards points. Earn 2 points for every $1 spent on eligible dining and food delivery in Canada, 2 points for every $1 spent on eligible travel, and 1 point for every $1 spent elsewhere..
Travel insurance. Get Travel Accident Insurance, Travel Emergency Assistance and Emergency Medical Insurance, Trip Cancellation and Interruption coverage, Lost and Stolen Baggage Insurance, Flight and Baggage Delay Insurance, Car Rental Theft and Damage coverage and Hotel/Motel Burglary Insurance. You also get access to complimentary concierge services.
Travel perks. You'll get complimentary lounge access worldwide, benefits with Fine Hotels + Resorts, personalized concierge service and Hotel Status Benefit to help fast-track points earned towards hotel loyalty programs. You'll also get access to benefits at Toronto Pearson International Airport including valet service, discounts on parking and access to Pearson Priority Security Lane.
No late payment fee. A $0 fee applies to late payments (however, a penalty interest rate may apply).
Metal Card. This premium credit card comes in precision-cut, engraved metal, which makes it incredibly durable.
Foreign transaction fees. When you spend overseas, you'll face a foreign transaction fee of 2.5%.
Annual Fee
$799
Purchase APR
N/A
Cash Advance Rate
N/A
Balance transfer APR
N/A
Welcome offer
Earn up to 100,000 Membership Rewards points. Earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your card in the first 3 months. Plus, earn 30,000 points when you make a purchase between 14 and 17 months of cardmembership.
Rewards
Earn 2 points for every $1 spent on eligible dining and food delivery in Canada, 2 points for every $1 spent on eligible travel, and 1 point for every $1 spent elsewhere.
Available in what countries? United States (Canadian citizens can apply if they reside in the US and have a valid US Social Security Number)
Annual fee: $495 USD
Initiation fee: None
APR: 14.99% (varies with Prime rate)
Physical card: PVD-coated stainless steel front and carbon back. Weighs 22 grams.
Introduced in 2008, the Mastercard Black Card caters to jet setters with high-value travel benefits including a 0% foreign transaction fee, 24/7 concierge services, access to over 1,300 airport lounges worldwide with a , expedited entry to the US with a Global Entry Membership (approval required), complimentary travel insurance and $100 in annual airline credits. Cardholders earn rewards points on every purchase. Points can be redeemed for travel, 1.5% cash back to a US checking or savings account, statement credit, gift cards and merchandise.
From everyday purchases to travel plans, the BMO eclipse Visa Infinite Privilege benefits every area of your lifestyle. To begin, you'll get a $200 lifestyle credit annually, which you can spend however you like. Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel. You'll earn 1 point per $1 spent on everything else. The card also comes with and impressive sign up bonus: Get up to 120,000 welcome points. Earn 50,000 points after you spend a minimum of $6,000 within the first 3 months, plus earn 30,000 points when you spend at least $30,000 in the first 6 months. Get an additional 40,000 points when you spend at least $75,000 by your first anniversary. You'll also have access to a a host of travel insurance coverage and benefits like airport lounge access and Visa Infinite Privilege Concierge services.
Earn accelerated rewards. Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel. You'll earn 1 point per $1 spent on everything else.
Annual lifestyle credit. You'll receive a get a $200 lifestyle credit annually to spend however you like.
Sign up bonus. Get up to 120,000 welcome points. Earn 50,000 points after you spend a minimum of $6,000 within the first 3 months, plus earn 30,000 points when you spend at least $30,000 in the first 6 months. Get an additional 40,000 points when you spend at least $75,000 by your first anniversary.
Additional cardholder benefits. Primary cardholders that add a supplementary card to their account will receive a 25% bonus earn rate.
Travel and entertainment benefits. You'll get Priority Pass membership with 6 annual airport lounge visits, Priority Security Lane/airport parking/valet service discounts at select Canadian airports, use of the Visa Infinite Luxury Hotel Collection including exclusive benefits like free breakfast and access to the Visa Infinite Privilege Concierge. You can also take advantage of special dining and wine events with Visa Infinite Dining Series and Visa Infinite Wine Country, and get Troon Rewards Golf benefits including discounts at over 95 resorts and courses worldwide and access to some private clubs.
Purchase coverage. Get up to 120 days of coverage from the date of purchase for eligible items against theft or damage. Plus, your Extended Warranty Insurance will triple the manufacturer’s warranty of items purchased on the card up to a maximum of 2 additional years.
Travel insurance. Get a comprehensive suite of travel coverage including Out-of-Province/Country Emergency Medical Insurance, Common Carrier Insurance, Car Rental Collision/Loss Damage Insurance, Trip Cancellation/Trip Interruption Insurance, Flight Delay coverage, Baggage Delay/Theft/Damage Insurance and even more.
Annual fee. You'll have to pay an annual fee of $499 to maintain this card.
Additional cardholder fee. Each additional cardholder will cost a $99 fee.
Currency conversion fee. You'll be charged a currency conversion rate of 2.5%.
Purchase interest rate. The purchase interest rate for this card is relatively high at 20.99%.
Minimum income requirement. In order to be eligible for this card, you'll need a personal income of $150,000 or a household income of $200,000.
Annual Fee
$499
Purchase APR
20.99%
Cash Advance Rate
23.99%
Balance transfer APR
23.99%
Welcome offer
Get up to 120,000 welcome points. Earn 50,000 points after you spend a minimum of $6,000 within the first 3 months, plus earn 30,000 points when you spend at least $30,000 in the first 6 months. Get an additional 40,000 points when you spend at least $75,000 by your first anniversary.
Rewards
Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel. You'll earn 1 point per $1 spent on everything else.
Alternative: Scotiabank Passport Visa Infinite Card
The Scotiabank Passport Visa Infinite Card offers a sizeable welcome bonus along with a high rewards point earn rate. Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2024. Earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn an annual 10,000 Scene+ points when you spend at least $40,000 in purchases annually. This card also comes with a full suite of travel insurance, and other travel related perks including a complimentary DragonPass membership plus 6 free visits per year to over 1,000 airport lounges around the world.
Rewards points. Earn 3 Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, Foodland and more, 2 Scene+ points for every $1 spent on eligible grocery store, dining, entertainment and daily transit purchases, and earn 1 Scene+ point for every $1 spent elsewhere.
Bonus. Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2024.
Travel insurance. Get up to $1,000,000 in Emergency Medical Insurance. Plus, get trip cancellation, trip interruption and travel accident insurance for free when you charge at least 75% of your trip costs to your card. Benefits also include coverage for flight delays, rental car collision loss/damage, hotel/motel burglaries and delayed or lost baggage.
Car rental perks. Get up to 25% car rental discount + complimentary upgrades for Avis Preferred Plus members at participating Avis locations in Canada and the US. Plus get Rental Car Collision/Loss Damage Insurance coverage (up to $65,000).
Travel perks. Receive complimentary membership in the Visa Airport Companion Program plus 6 free visits per year to over 1,200 airport lounges around the world.
Annual fee. This card has an annual fee of $150.
Minimum income requirement. You'll need a minimum income of at least $60,000, or combined household income of $100,000, to qualify for this card.
Annual Fee
$0 intro annual fee for the first year ($150 thereafter)
Purchase APR
20.99%
Cash Advance Rate
22.99%
Balance transfer APR
22.99%
Welcome offer
Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2024. Earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn an annual 10,000 Scene+ points when you spend at least $40,000 in purchases annually.
Rewards
Earn 3 Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, Foodland and more, 2 Scene+ points for every $1 spent on eligible grocery store, dining, entertainment and daily transit purchases, and earn 1 Scene+ point for every $1 spent elsewhere.
J.P. Morgan Reserve Card (formerly known as the Palladium Card)
Issued by: Chase Bank
Available in what countries? No known geographical restriction. Cardholders must have an account with J.P. Morgan Private Bank, which takes clients from all over the world.
Annual fee: $595 USD
Initiation fee: None
APR: (Unknown)
Physical card: Minted out of brass and plated with palladium. Weighs 27 grams (this is the heaviest credit card on the market).
Though not black in colour, the J.P. Morgan Reserve card is a true Black Card designed to support the spending needs of today’s greatest financial influencers. This invitation-only card has the distinction of being the heaviest credit card on the market. It’s owners get a huge range of travel benefits including $300 in annual travel credits, zero foreign transaction fees, elite upgrades at hand-selected hotels and resorts around the world, worldwide travel assistance and expedited entry into the US through the Global Entry program (approval required).
Cardholders earn rewards points on their purchases and have access to a dedicated customer service representative. Rewards points can be redeemed for travel, cash back, gift cards, experiences and more.
Must be a member of J.P. Morgan Private Bank, which provides wealthy individuals and their families with a dedicated banker to help manage their finances and connect them with lucrative financial opportunities. To become a member, you need to have over $10 million in investable assets. To qualify for the J.P. Morgan Reserve card, you also need to have an excellent credit score.
By invitation only.
Alternative: American Express Aeroplan Reserve Card
The American Express Aeroplan Reserve Card is a premium Aeroplan rewards credit card that comes with tons of perks and accelerated rewards. Earn 2X the points on eligible dining and food delivery purchases in Canada, and earn 1.25X the points on everything else. Earn up to 85,000 welcome bonus Aeroplan points. That's a value of up to $2,600 or more when you combine your welcome bonus points and card benefits. This card also comes with a host of travel perks and coverage, including travel medical, trip cancellation and interruption, hotel burglary, car rental and common carrier coverage.
Earn points. Earn 2X the points on eligible dining and food delivery purchases in Canada, and earn 1.25X the points on everything else.
Reach Aeroplan elite status more easily. Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 worth of eligible purchases you charge to your card. Plus, you could receive a Complimentary Hotel Room Category Upgrade, on the first and last night, and a Complimentary Upgrade from SilverLeaf to GoldLeaf class of service when you book directly with Rocky Mountaineer using your card.
Get bonus points. Earn up to 85,000 welcome bonus Aeroplan points. That's a value of up to $2,600 or more when you combine your welcome bonus points and card benefits.
Travel coverage. Travel insurance coverage includes travel medical, trip cancellation and interruption, hotel burglary, car rental and common carrier coverage
Travel perks. Get access to tons of travel perks, including free checked baggage for yourself and up to 8 companions, access to Maple Leaf Lounges in North America and Air Canada Cafés for you and a guest (with same day tickets on departing Air Canada or Star Alliance flights), Priority Airport Check-In, Priority Boarding, and Priority Baggage Handling with Air Canada and priority access to eUpgrades/standby list and worldwide airport lounge access with Priority Pass.
Airport perks. If you often travel out of Toronto Pearson International Airport, this card provides you access to the Pearson Priority Security Lane, complimentary valet service, and discounts off parking rates and Car Care Services.
Special offers. Get access to special offers for music, dining, entertainment and exclusive events offered by American Express.
Metal card. The American Express Aeroplan Reserve Card comes as an exclusive, precision cut and engraved 13g metal card.
Annual fee. This card comes with a hefty yearly fee of $599, so you'll need to make sure you plan to use the card enough to earn enough rewards to justify the fee.
Additional cardholder. There's an added fee of $199 for every additional card you add to your account.
Annual Fee
$599
Purchase APR
21.99%
Cash Advance Rate
21.99%
Balance transfer APR
N/A
Welcome offer
Earn up to 85,000 Aeroplan points. Earn 60,000 Aeroplan points after spending $7,500 in purchases within the first 3 months, plus earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13. That's up to $2,600 or more in value when you combine your welcome bonus points and card benefits.
Rewards
Earn 2X the points on eligible dining and food delivery purchases in Canada, and earn 1.25X the points on everything else.
Coutts Silk Charge Card
Issued by: Coutts
Available in what countries? The United Kingdom. Services UK clients but accepts international clients with ties to the UK.
Annual fee: $0 annual fee
Initiation fee: None
APR: This is a charge card, so balances must be paid off in full each billing period or a high APR will apply. The exact APR is determined on an individual basis. (Coutts also offers the Silk Credit Card, which is a regular credit card with a variable-rate purchase APR and no annual fee.)
Physical card: Material and weight unknown
The Coutts Silk Charge Card is just one way Coutts continues its centuries-long tradition of providing private banking and wealth management services to some of the most powerful individuals and families on earth — including British royalty.
The Silk Charge Card comes with travel benefits including access to over 700 VIP airport lounges through LoungeKey and no foreign transaction fees on purchases in 11 major currencies (although a margin may be applied on the exchange rate). Clients get access to 24/7 concierge services that operate in all time zones and provide service in more than 25 languages. Every purchase goes towards earning “Coutts Crowns,” which can be redeemed for luxurious items and experiences.
Must have a high annual income, be at least 18 years old and be a client of Coutts Bank. Must also be able to invest or borrow at least £1 million.
Contact Coutts by phone, online contact form or by visiting the Coutts Strand office in London, England.
Alternative: Scotiabank Passport Visa Infinite Card
The Scotiabank Passport Visa Infinite Card is a powerful travel companion. With a 0% foreign transaction fee, this card allows you to save while earning rewards points for every dollar you spend. Plus, you'll get travel benefits, car rental perks and more. Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2024. Earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn an annual 10,000 Scene+ points when you spend at least $40,000 in purchases annually.
No foreign transaction fees. This card has a 0% transaction fee, so you can save on purchases when you travel or shop online with international retailers. (The exchange rate will still apply.)
Rewards points. Earn 3 Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, Foodland and more, 2 Scene+ points for every $1 spent on eligible grocery store, dining, entertainment and daily transit purchases, and earn 1 Scene+ point for every $1 spent elsewhere.
Sign-up bonus. Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2024. Earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn an annual 10,000 Scene+ points when you spend at least $40,000 in purchases annually.
Travel perks. Receive complimentary membership in the Visa Airport Companion Program plus 6 free visits per year to over 1,200 airport lounges around the world.
Travel insurance coverage. Get up to $1,000,000 in Emergency Medical Insurance. Plus, get trip cancellation, trip interruption and travel accident insurance for free when you charge at least 75% of your trip costs to your card. Benefits also include coverage for flight delays, rental car collision loss/damage, hotel/motel burglaries and delayed or lost baggage.
Car rental discounts. Get up to 25% car rental discount + complimentary upgrades for Avis Preferred Plus members at participating Avis locations in Canada and the US. Plus get Rental Car Collision/Loss Damage Insurance coverage (up to $65,000).
Annual fee. This card has an annual fee of $150.
Eligibility requirements. You must have a minimum personal income of $60,000 annually or a household income of $100,000 annually to qualify for this card.
Annual fee
$0 intro annual fee for the first year ($150 thereafter)
Purchase APR
20.99%
Balance transfer APR
22.99%
Balance transfer fee
Rewards
Earn 3 Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, Foodland and more, 2 Scene+ points for every $1 spent on eligible grocery store, dining, entertainment and daily transit purchases, and earn 1 Scene+ point for every $1 spent elsewhere.
Dubai First Royale Mastercard
Issued by: Dubai First
Available in what countries? Issuing bank is based in the United Arab Emirates, and many cardholders are reportedly UAE residents. It’s unknown whether international clients are accepted.
Annual fee: Unknown
Initiation fee: 7,000 UAE Dirham or roughly $2,000 USD
APR: Unknown
Physical card: Trimmed in gold with a 0.235 carat diamond embedded in a crest on the front of the card
Very little is known about the elusive Dubai First Royale Mastercard, because most card details are only revealed upon invitation to the program. It’s estimated that there are only several hundred cardholders in the world, many of whom are from royal families in the United Arab Emirates.
The perks are staggering — cardholders reportedly have no credit limit and zero purchase restrictions, meaning they can charge absolutely anything they want, and the purchase will be approved. Other benefits include a dedicated account manager and 24/7 concierge services tasked with catering to clients’ royal lifestyles.
Unknown, but likely requires an extremely high net worth and substantial ties to the United Arab Emirates.
Designed with the frequent traveller in mind, the BMO Ascend World Elite Mastercard lets you earn reward points that can be redeemed for free merchandise or to help pay for your next trip.Get 5 BMO Rewards points per $1 spent on eligible travel purchases, 3 points per $1 spent on eligible dining and entertainment purchases, and 1 point per $1 spent on all other eligible purchases. The annual fee of $150 can be more than offset by travel benefits such as complimentary travel insurance, lounge access, 24/7 concierge services and an attractive signup bonus.Get up to 90,000 points and get the $150 annual fee waived by your first anniversary..
Signup bonus. Get up to 90,000 points and get the $150 annual fee waived by your first anniversary..
Rental car collision damage insurance. Get complimentary Collision Damage Waiver benefits (MSRP of up to $65,000).
Reward points. Get 5 BMO Rewards points per $1 spent on eligible travel purchases, 3 points per $1 spent on eligible dining and entertainment purchases, and 1 point per $1 spent on all other eligible purchases.
Travel insurance coverage. Cardholders under 65 years of age get up to $2 million Out-of-Province/Out-of-Country Emergency Medical benefits for unlimited trips per year up to 21 days per trip. Other trip assistance services include emergency cash transfers (subject to available credit up to a maximum of $5,000) as well as coverage for lost/stolen/damaged baggage, trip cancellations/delays/interruptions, flight delays and lost/stolen travel documents and tickets. Cardholders aged 65-74 years old are eligible for separate coverage at an additional cost.
Extended warranty and purchase protection. Get complimentary purchase protection and extended warranty insurance on many of your card purchases. This means that eligible items are automatically covered against theft or damage for 90 days from the date of purchase. Additionally, the original manufacturer's warranty for eligible items is extended for up to 1 additional year.
Annual fee. This card has an annual fee of $150.
Foreign transaction fee. This card has a foreign transaction fee of 2.5%This will apply on any overseas purchases or any purchases made online with an international retailer.
Eligibility requirements. You'll need to earn a personal income of at least $80,000 or a combined household income of at least $150,000 annually.
Annual Fee
$0 intro annual fee for the first year ($150 thereafter)
Purchase APR
20.99%
Cash Advance Rate
23.99%
Balance transfer APR
23.99%
Welcome offer
Get up to 90,000 points and get the $150 annual fee waived by your first anniversary.
Rewards
Get 5 BMO Rewards points per $1 spent on eligible travel purchases, 3 points per $1 spent on eligible dining and entertainment purchases, and 1 point per $1 spent on all other eligible purchases.
How are Black Cards different to other luxury credit cards?
Credit card designations like “Black,” “Gold,” “Platinum,” and “Elite” are neither regulated nor universally defined, but financial institutions nevertheless use these terms fairly consistently to indicate whether a luxury card is basic, top-tier or somewhere in between. This comparison is primarily used to differentiate between credit cards offered by the same company but can also be used to make certain cards competitive with other cards on the market bearing the same designation.
Though credit card issuers are free to classify luxury credit cards however they want, Black Credit Cards tend to differ from other luxury credit cards in the following ways:
Black Cards are much more exclusive.
Income and credit score requirements for Gold and Platinum cards may be out of reach for some, but it’s still possible for anyone with a good salary and spending history to qualify. However, Black Cards tend to have enormous income requirements well beyond what most people earn in a lifetime.
Additionally, approval for Black Cards is often discretionary. So, even if you’re wealthy and have an excellent credit history, you may still need to be connected with the right people or have a certain degree of social or economic influence to be approved.
Black Cards typically offer higher-value perks.
Black Card issuers design card benefit programs with their clients’ affluent standard of living in mind. While luxury credit cards ordinarily offer valuable perks like travel discounts, accelerated rewards points and dining deals, Black Cards up the ante by offering benefits such as dedicated service teams, free upgrades at the worlds’ most elite hotels, on-demand access to sold out events, zero spending limits (or super high spending limits) and flexible repayment options to accommodate mega purchases.
Of course, not all Black Cards come with the same benefits. There is some debate about the real value of Black Cards. Some non-Black luxury credit cards come with comparable benefits for much lower annual fees. In the end, the value of a Black Card depends on how much you’ll use the perks that come with it.
Myths about Black Credit Cards
Given the mystery surrounding “The Black Card,” it’s not surprising that a number of myths have developed around its use and qualification requirements. Let’s walk through some of the misconceptions about Black Cards:
Only AMEX or Mastercard issue Black Credit Cards. While the term “Black Card” often refers to the American Express Centurion Card or the Mastercard Black Card, these are not the only Black Cards on the market. The Centurion Card is sometimes referred to as “The Black Card,” because it was the first of its kind. But “Black Card” now refers to a credit card category rather than a specific card.
All Black Credit Cards are black in colour. Not all Black Cards are actually black. The J.P. Morgan Reserve Card is silver in colour, while the Coutts Silk Charge Card has a grey-brown tone.
If it doesn’t have “Black” in the name, it’s not a Black Credit Card. While some card issuers may include “Black” in the name of a card for marketing purposes, not all choose to do so (consider the Dubai First Royale Mastercard and the J.P. Morgan Reserve Card).
Only celebrities have Black Credit Cards. Many A-list celebrities qualify for Black Cards (think Kanye West, Oprah Winfrey, Kim Kardashian and Jerry Seinfeld, who reportedly received the first ever Black Credit Card). But you don’t have to be famous to qualify for a card. Many Black Card holders are successful business people with high-value investment portfolios or “old money” families with massive estates.
If you’re wealthy, you can get a Black Credit Card. Wealth isn’t the only factor in determining your eligibility for a Black Card. Credit score and sometimes minimum annual spending play a role too. Some financial institutions only issue Black Cards to existing clients, while others only work with certain clientele (say, royals or titled individuals). Still others have net worth requirements that far exceed what many wealthy individuals actually have.
You can buy anything you want with a Black Card. It depends. Some cards, like the Dubai First Royale Mastercard, come with unlimited spending and guaranteed approval of all purchases charged to the card. Other Black Cards come with credit limits that are determined on a case-by-case basis. Primary cardholders often have the option of setting spending limits on supplementary cards given to family members or coworkers.
Businesses can’t get Black Credit Cards. Many Black Credit Cards, such as the American Express Centurion Card, are offered in both personal and business formats to suit different types of clients.
Compare alternatives to Black Credit Cards
1 - 3 of 3
Who is most likely to be researching black credit cards?
Finder data suggests that men aged 25-34 are most likely to be researching this topic.
Response
Male (%)
Female (%)
65+
2.87%
1.38%
55-64
5.52%
3.61%
45-54
11.15%
6.58%
35-44
12.74%
6.69%
25-34
16.77%
9.98%
18-24
15.18%
7.54%
Source: Finder sample of 942 visitors using demographics data from Google Analytics
Stacie Hurst is an editor at Finder, specializing in a wide range of topics including stock trading, money transfers, loans, banking products, online shopping and streaming. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, Stacie can usually be found watching K-dramas or playing games with her friends and family. See full bio
Going abroad and wondering whether you can use your credit card while travelling? Here’s the lowdown on credit cards vs. cash, fees, and which cards to get.
Why pay for insurance? Credit card insurance has you covered when you travel, for purchase protection, extended warranties and more.
Feedback
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Service at your fingertips
