Top perks
To its credit, the Mastercard® Black Card™ does offer some decent features.
Up to 2% back
The rewards structure on the Mastercard® Black Card™ is a little confusing. It earns 1 point for every $1 you spend, which is extremely low. Most good rewards credit cards offer either a higher flat rate or bonus categories.
You can, however, redeem rewards for $0.02 per point toward airfare or $0.015 per point toward cash back. If you go with airfare, you're effectively getting 2% back on your spending. If you choose cash back, you're getting 1.5% back. That's still not great, but it's at least better than a flat 1%.
Read more: Best Cash Back Credit Cards
Balance transfer offer
The Mastercard® Black Card™ is currently offering 0% intro APR for 15 billing cycles on balance transfers. While this is a nice extra perk, the relatively high 5% transaction fee and short qualifying period of 45 days from account opening make it less ideal. Additionally, the 0% rate applies only to balance transfers, not to new purchases made with the card.
$100 annual airline credit
This card offers a $100 annual credit toward flight-related purchases, including airline tickets, baggage fees, upgrades, and more. Statement credits are automatically applied to eligible purchases.
Global Entry/TSA PreCheck credit
A membership fee to either Global Entry or TSA PreCheck is covered by the Mastercard® Black Card™. When you pay with this card, you receive an automatic statement credit of up to $100 (the cost of Global Entry, which is more expensive). You're eligible for the credit once every five years, coinciding with when you need to renew your membership.
These are both expedited security programs that save you time at the airport. Global Entry is the superior option, because membership also includes TSA PreCheck benefits.
Airport lounge access
The Mastercard® Black Card™ comes with a complimentary Priority Pass Select membership providing access to over 1,300 airport lounges worldwide. The membership includes unlimited visits for both you and your guests, so if you travel frequently, it's definitely a nice benefit to have.
LEARN MORE: Best Credit Cards With Airport Lounge Access
Luxury concierge service
Cardholders have 24/7 access to a Luxury Card Concierge that can assist with travel bookings, personal requests, and much more. Here are some of the many arrangements the concierge can handle on your behalf:
- Making restaurant reservations
- Purchasing tickets to an event
- Booking appointments at a spa
- Researching an area where you plan to live or visit on vacation
SEE MORE: Best Mastercard Credit Cards
Purchase and travel protections
This credit card offers the following protections on eligible purchases:
- Cellphone protection against damage or theft when you pay your mobile phone bill with your Luxury Card
- Baggage delay insurance
- Travel accident insurance
- Auto rental damage collision waiver
No foreign transaction fees
Like most travel credit cards, the Mastercard® Black Card™ doesn't charge a foreign transaction fee. You can use it outside the U.S. without paying extra.
SEE MORE OPTIONS: Best No Foreign Transaction Fee Credit Cards