I was checking the mail the other day and noticed an application for a Black Card. The American Express Black Card is the most exclusive and prestigious credit card that anyone can own. The card has no credit limit and is used by many high rollers around the world. I am not a credit card guy but I have to admit that I found the possibility of getting an American Express Black Card exciting. So, I opened the application and what did I see?
I received a credit card offer for a VISA Black Card. (Utter disappointment) You may be wondering like I was, what is a Visa Black Card? I had no clue so I decided to look up some of the specifics of the Visa version just for kicks.
Here’s what I found out:
- The card is issued by Barclay’s Bank in Delaware.
- The card is marketed to only 1% of the population.
- The card has a 13.24% base interest rate.
- The card has a $495 Annual Fee.
- The card allows its members to get luxury gifts and exclusive concierge service.
The Real Story
The Visa Black Card is just a knock off of the American Express Black Card. It’s not exclusive and has nowhere near the prestige of the American Express Card. Since the card is marketed to 1% of the population, there are over 3 million people who receive offers in the mail. Everyone else can apply right on Visa’s website for the card.
The interest rate is ridiculous for “exclusive cardholders” to pay. There are a lot of better credit cards out there with much lower interest rates. You are basically paying $500 a year for the privilege of carrying around a black Visa card. Just spray paint your Visa card black and save yourself the trouble.
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