According to the Visa advertising slogan, the Visa Black Card is The World’s Most Prestigious and Versatile Credit Card. I had never heard of a “black card” credit card until a number of years ago when I started rubbing shoulders with some of the wealthier members of my community. Aside from the stellar perks, I wouldn’t mind having one myself simply as a status symbol. Or more accurately, my ego wouldn’t mind having one.
Of course, the first such card was issued by American Express, known as the Centurion Card, or more popularly as The American Express Black Card. The card is targeted primarily at the super-wealthy, and is available by invitation only. Now Barclays Bank has issued their own version of the prestigious black card known as the Visa Black card.
The Visa Black card is made with carbon and is limited to about 1% of U.S. residents. Because of the limited cardmember base, a high level of personal service is provided to all members. The annual fee for the Visa Black card is $495, compared to $2,500 for the Centurion card.
The Visa Black Card comes with an Exclusive Rewards Program.
24-Hour Concierge Service
Most cardholders consider the concierge service as a major perk of having the card. Operators are available 24 hours a day, 7 days a week to cater to the most demanding needs of their cardholders. From event planning to business services to travel assistance to locating rare books or unusual household items.
The Visa Black card also comes with many benefits such as:
- $250,000 worldwide travel insurance
- $300 baggage delay insurance
- Purchase security
- Warranty manager service
- Auto rental collision damage waiver
It makes sense for Barclays to target the ultra-rich with this card, as opposed to playing the mass-market credit card arena. The wealthy club who qualify for this card place more weight on status and service, than they do on fees. By creating a card that caters to this elite demographic, Barclays opens itself up to larger profits as a result of higher merchant fees as a percentage of purchases.
