Black credit cards

American Express Preferred Rewards Gold Card

• 20,000 Membership Rewards point welcome bonus
• 4 complimentary airport lounge visits per year
• No annual fee in year 1

Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £195 per annum, your representative rate is 88.8% APR (variable).

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What is a black credit card?

A black credit card is a premium credit card that offers more status and benefits than standard, gold or platinum credit cards. The use of the term “black” for this type of credit card refers to the level of the account, similar to how airline and hotel programs have different status levels.

However, there are some standard credit cards that are also labelled as “black” cards by the provider. These cards may offer more benefits than other similar cards, but without the exclusivity of the elite black cards.

What benefits can I find with a black credit card?

Black credit cards offer a range of exclusive features that vary between cards. A few notable features may include:

• Higher credit limits
• Special card construction, such as titanium or carbon
• Greater travel insurance coverage
• Complimentary status upgrades for hotel and airline programs
• Special upgrades at select hotels
• Access to hundreds of airport lounges around the world
• 24/7 concierge service
• Travel credits
• Access to special events and experiences

What are the most prestigious credit cards?

How much does a black credit card cost?

As you’d expect, the perks offered by the best black credit cards can often come with a premium price tag. Depending on the card, you may be faced with an annual fee in the thousands of pounds, though many black cards have annual fees around £300 or less.

Who should get a black credit card?

Most black credit cards are designed for people with high incomes and high monthly charges. They’re also usually reserved for those with excellent credit scores.

But meeting the application requirements doesn’t necessarily mean you should get a black credit card. If you never travel, for example, you won’t leverage perks like travel credits, airport lounge access and status upgrades in hotel and airline programs. In that case, it might not be worth paying a high annual fee.

On the other hand, if you travel often and love accessing special events through your card, you might find your card pays for itself many times over.

How to compare black credit cards

There are three main factors to consider when comparing black credit cards:

• Rewards. Black credit cards often don’t have the most powerful rewards, as their main value lies in their benefits. If rewards are important to you, consider a travel card or look into cashback credit cards. When evaluating a black card, check if it offers elevated rewards for certain categories. Then consider your spending in these categories to see if you’re likely to benefit.
• Complimentary extras. Compare benefits based on what’s valuable to you. Black cards tend to offer certain features across the board, such as Global Entry and access to airport lounges. But you’ll see differences between products, such as varying values of airline fee credits and perks in specific loyalty programs.
• Fees. Preferably, your card’s benefits will outweigh the annual fee. Consider whether you’ll use perks like airport lounge access and travel credits. Additionally, look into your spending and see whether you’ll earn enough rewards to offset the annual fee.

Bottom line

Not everyone will qualify for the most exclusive black credit cards, which is part of the appeal. This type of card comes with a high annual fee, robust luxury features and is often available by invitation only.

However, there are some black cards that offer better rewards and benefits, without the associated cost. You also don’t have to get a black card to enjoy high-class travel benefits. If you don’t meet the criteria or are looking for a more affordable option, compare travel credit cards and see if you can find the alternative that’s right for you.

Frequently asked questions

• Which type of rewards will I earn with a black credit card?

  This depends on the specific card, but you may be entitled to general rewards like points and cashback, as well as a range of travel benefits.

• What income do you need for a black card?

  This varies based on the provider and card. Black cards are marketed to those with high incomes, as they have high annual fees and luxury features. Typically, users of these cards pay off their balances every month.

  Minimum income requirements can often be extremely high, with some cards requiring you to earn more than £1 million per year to be eligible.

• What is the credit limit on a black card?

  The credit limit will vary by card provider, for example the Amex Centurion Black Card in the UK has no pre-set spending limit. Despite this, you’ll need to clear your balance each month or you’ll face hefty fees.

• What's the difference between a black credit card and a platinum credit card?

  If you look at platinum and black cards from the same issuer, you’ll usually find the black card offers more premium benefits. For example, it can give you access to experiences and luxury travel perks you won’t find with a platinum card.

• Should I get a black credit card or a platinum credit card?

  This depends on your individual circumstances. In some cases, you might find a platinum credit card offers all the benefits you need and has an annual fee that suits your budget. In others, you might be drawn to the luxury privileges and perks of a black card.

  The simplest way to decide between a black and platinum card is to compare them side by side, based on the features that interest you. Consider your spending habits, budget and eligibility for both card types. Eventually, you’ll decide which card is right for you.