What is a Black Credit Card and How to Get one?

Black credit card
What does it mean to have a Black Credit Card?

A black credit card is a type of credit card exclusively reserved for the extremely wealthy personnel in the world. The credit card offers an exclusive and luxury reward that other regular credit cards can’t offer you.

Let’s look at what Black credit cards are all about, what it means to have a black card, qualifications for a black card, the highest limit on a black card, what is higher than a black card, how much it costs to own a black card, advantages and disadvantages of a black card, perks black credit card offers. Don’t be quick to exit the blog as there is a lot to learn.

 What Is A Black Credit Card

Black credit cards are a type of very exclusive credit card that is reserved for the super-rich individuals in the world. These cards are given out by the bank to high-earning customers and offer impressive perks, and unlimited credit.

Black credit cards are available only on an invitation basis. In some cases, you need to spend from tens of thousands of dollars to hundreds of dollars before you can be considered eligible for the invitation to apply for a credit card.

What does it mean to have a Black Card?

The most exclusive black credit cards in the US are actually far more than mere credit cards, they are a symbol of wealth, an extravagant lifestyle, and, in some cases, fame.

In the UK, some cards are reserved for members of the Royal Family or people considered national treasures.

When such great figures carry a bank’s black card, it is great advertising for that bank and it pays to keep the club extremely exclusive in order to add to the card’s appeal.

Others will only be offered to those considered to be top businessmen and women in the world.

What are the Qualifications for Black credit cards?

Black card issuers tend to keep it a secret when it comes to how to qualify for a black credit card. And this makes it pretty hard to determine the qualifications for a black credit card.

We made a study about the qualifications for a black card by accessing black cardholders and here is what we know about black card qualifications.

  • Annual Income: You must have a great annual income before you can become a black cardholder. According to our study, you need to have a minimum of $1,000,000 to qualify for a black card
  • Big Spender: The black credit cards as already stated are for the super-rich individuals and big spenders. It’s not enough being super-rich, you also need to be a big spender. So for you to get qualified to be a Black cardholder, you have to be super-rich and a big spender. No one knows the actual dollar figure required by providers but a study shows that you need to spend on average $500,000 annually on other Amex cards to qualify for a black credit card
  • Good Credit Score: Black credit cards are usually offered to people with a high credit score ranging from 740 upwards. But reports have it that you can get a black credit card with a credit score of 670 if you have a great annual income.
  • Invite Only: This is the last stage of the black card qualification. You need to have a great annual income, meet the high spending requirements, and have a good credit score of 740 upwards to qualify for a black card. Only then can you be invited to be a Black cardholder.

In addition, some credit card issuers including options from Chase, only make available their credit card to selected banking clients who have a high dollar amount on deposit or invested with the bank. This literally means you have to be their customer to have their credit card.

Some black credit cards are not offered solely based on wealth but a personal recommendation from board members or existing cardholders.

However, in recent years many credit card issuers have come up with ‘black’ credit cards that aim to cash in on the kudos of these exclusive cards but are aimed at a lower level of wealth.

If you are able to meet the income requirements, and other eligibility criteria of these non-exclusive black cards, you don’t have to wait for the exclusive invite. You can apply for it like you would for any regular credit card.

What Is The Highest Limit On A Black Credit Card?

Black credit cards don’t have spending limits. This literally means you can spend as you wish to with the card. As long as you can afford to pay off your balance every month.

When using a black credit card, there’s no minimum payment as you’re required to pay off balances each month. You don’t roll over the balance to the next month.

What Is Higher Than A Black Card?

The platinum card is usually considered the highest credit card. But the truth is a Black credit card is higher than a platinum credit card. The reason is that the black card is exclusively for the super-rich i.e. people with a very high net worth like top businessmen, politicians, and royalties while the platinum card isn’t really exclusively for the rich or individuals with high net worth.

The Black credit card has a huge $10,000 initiation fee, a $5,000 annual fee, and offers many travel perks. While the Platinum card has a $695 annual fee with many travel-related perks, cardholders earn points for every dollar they spend.

You can apply for a platinum card online if you meet the minimum eligibility requirements. But black cards are on an invitation-only basis.

Generally, there is no credit card higher than black credit cards. Black cards are the highest luxury cards that are exclusively reserved for the extremely wealthy and big spenders.

How Much Does It Cost to Own A Black Card?

Black cards are known for their exorbitant annual and initiation fee. The American Express Black card also known as the Centurion Card costs an initiation fee of $10,000 to get the card and an annual fee of $5,000.

The initiation fee and annual fee put together, the American Express Black Card also known as the centurion card is worth a total sum of $15,000.

How To Get a Black Credit Card

While everyone would want to have an exclusive card that only a few wealthy individuals have. Its exclusiveness makes it not easy to get.

Black credit cards are not cards that you just apply for online like every other regular credit card except Mastercard Black card from luxury card though.

However, if you follow the qualification guideline listed above, you would be on the right track to becoming a Black cardholder.

Although Black cards are on an invitation-only basis, you can still request an invitation when you feel you meet the qualifications for a Black card.

Advantages and Disadvantages of a Black card

The most obvious disadvantage of having a black card is the high annual fees that are associated with having these cards. But I really don’t think this would be a problem if you were able to qualify for the black card in the first place.

No one likes spending money unnecessarily, and there are other cards that offer similar perks to the black card without such steep annual fees as the America Express Platinum Card and Chase Sapphire Reserve.

The advantages include the various perks the cards offer, most notably the 24/7 concierge service that cardholders have access to. Another is the prestige that comes along with being a black card cardholder. You’re sure to impress a crowd when you pull out your black card to pay for anything.

What Kind of Perks do Black Credit Cards Offer?

The benefits afforded to black credit cardholders vary enormously and between individual cardholders depending on their requirements. However, there are several perks almost every card provider offers to those who are seen as ‘valuable’ enough to have the most exclusive credit cards.

  • No credit limits and repayment perks: Black credit cards often give their users a longer time to make repayments without being charged interest. They will often also have enormous credit limits, while others do not have to deal with the credit limit as they are no pre-set spending limit.
  • Personal assistance/concierge service: Most exclusive credit cards provides some sort of personal concierge service, often allowing card-holders to call upon an assistant 24/7.
  •  Personalized curated reward schemes: Super rich credit card users much like anyone else like accumulating reward points. Although, while most of us are happy with discounted flights or free coffee, black cardholders tend to be offered more. They expect personalized rewards and experiences tailored to their specific interests.
  • Travel perks: Access to airport lounges worldwide, as well as comprehensive global travel insurance is offered to most black credit cardholders.
  • Access to exclusive invite-only events: Many black credit cardholders will be offered tickets to sold-out shows or receive invitations to major global events that are difficult to access for the regular man on the street, such as concerts and sporting events.


The Black Credit Cards is the “Louis Vuitton” of the credit card industry. Due to its exclusiveness for wealthy individuals, and high requirement standard, it has earned a high reputation in the credit card industry.

Apart from the exclusiveness and bragging rights that are associated with Black credit cards, it is better to opt-in for a credit card that will serve you better for your financial commitment.

Read Also:

10 Different Types of Credit Cards and How It Works?


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