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Luxury Card Mastercard® Black Card Review: A Potential Status Symbol

There are a few things you can expect from a premium credit card: good rewards rates on purchases, plenty of cardholder benefits and a high annual fee. Unfortunately, the Luxury Card™ Mastercard® Black Card™ provides basic benefits with a premium price tag.

ProsCons
Rewards on purchasesNo intro bonus
No foreign transaction feesHigh annual fee
Valuable cardholder benefitsFewer benefits than other premium cards

Experian Review

Luxury Card offers three credit cards, and its Luxury Card™ Mastercard® Black Card™ falls in the middle of the pack in terms of benefits and the annual fee. The card has a $495 annual fee that's in line with many premium cards, but its rewards and benefits might not be worth it.

Modest Rewards on Purchases

You'll earn 1 point per dollar spent using the Luxury Card™ Mastercard® Black Card™ card, and the value of your points depends on how you redeem them.

If you request cash back—which you can do with a statement credit or direct deposit into a U.S. bank account—then your points are worth 1.5 cents each. When you redeem your points by booking airfare through Luxury Card, your points are worth 2 cents each. There are other options as well, such as gift cards or merchandise, but your points are worth more when you redeem them for cash back or airfare.

Effectively, the card offers 1.5% cash back on purchases or 2% cash back if you book airfare. Considering the $495 annual fee, it's not a great rate.

There are many cash back cards that offer 1.5% cash back on all purchases without any annual fee. Or, the Citi® Double Cash Card, which doesn't have an annual fee, gives you 2% cash back on all your purchases (1% when you make the purchase and 1% when you pay your card's bill).

Even if you're looking to book travel, the premium Chase Sapphire Reserve® ($450 annual fee) or The Platinum Card® from American Express ($550 annual fee) may be better options. Both cards offer as good or better cardholder benefits, and you can use the points to either book travel or transfer the points to partner frequent flyer programs. Often, transferring presents the best opportunity for luxury travel.

For example, if you have 70,000 points, they might be worth $700 to $1,400 in booking value depending on your card and program. International business and first-class tickets often cost more than this, sometimes several times as much. However, you may be able to transfer your points to a mileage program and book a business or first-class rewards ticket for 70,000 miles (as an example, the exact miles required can vary).

Few and Fairly Standard Cardholder Benefits

The Luxury Card™ Mastercard® Black Card™ offers several notable cardholder benefits, including:

  • $100 in annual air travel credit you can use toward anything from tickets to baggage or upgrade fees
  • $100 statement credit toward Global Entry membership every five years
  • Complimentary Priority Pass Select membership, which gives you and unlimited guests access to lounges around the world
  • 24/7 access to a concierge service

Most premium cards offer a similar statement credit toward Global Entry membership, although other cards will alternatively reimburse you for a TSA Precheck membership if you prefer that program.

Many also offer a concierge service, which can be useful if you want help booking travel, finding a restaurant reservation or have a more unique request, such as tracking down hard-to-find luxury products or arranging special deliveries for family members.

The Luxury Card™ Mastercard® Black Card™ stands apart from other premium cards by automatically enrolling you in Priority Pass. Other premium cards offer this benefit, but you may need to enroll before you can use it. You also might be limited in how many guests you can bring with the complimentary membership from other cards, but get unlimited guests with the Luxury Card™ Mastercard® Black Card™.

The card's $100 annual air travel credit is also notable as you can use it for a variety of purchases. By comparison, The Platinum Card® from American Express comes with $200 in annual airline incidental fee credits, but you can't use the credits for ticket purchases, and you can only apply them toward purchases from a single airline.

However, there are non-premium cards with a similarly flexible $100 annual air travel credit and Global Entry statement credit that don't have an annual fee. And other premium cards may offer additional benefits.

For example, the Chase Sapphire Reserve® gives you $300 in travel statement credits each year, plus up to $100 every four years toward Global Entry or TSA Precheck membership. And The Platinum Card® from American Express comes with up to $600 in statement credits and gives you automatic status in two hotel loyalty programs.

Additional Benefits and Account Management

Along with rewards and cardholder benefits, the Luxury Card™ Mastercard® Black Card™ offers a few types of insurance and purchase protections that can be helpful for cardholders. Many of these come from the card being a World Elite Mastercard, and might not be available on non-premium cards. They include:

  • A cellphone protection policy that can reimburse you if your phone is lost or stolen
  • Baggage delay insurance that covers up to $100 a day in expenses if your bags are delayed by more than four hours
  • Travel accident insurance with accidental death and dismemberment coverage
  • An auto rental collision waiver, which provides secondary coverage in case your rental vehicle is stolen or damaged
  • Trip cancellation and interruption coverage, which can reimburse you for non-refundable expenses if you have to cancel or interrupt your trip

Luxury Card also has iOS and Android apps you can use to review your card benefits, manage your account, book travel and explore curated experiences. Notably, you can also chat directly with the concierge via the app.

A Potential Conversation Starter

One thing the Luxury Card™ Mastercard® Black Card™ does really well is stand apart from the other cards in your wallet.

The color, in particular, may catch someone's eye because the "black card" has some lore behind it. The original American Express black card (now the Centurion® Card) was an invite-only credit card that could instantly set you apart as a high-spender.

The Luxury Card™ Mastercard® Black Card™ harkens to the status symbol and its heft (the card is 1.5 times heavier than some other premium cards) is sure to get noticed.

Additional Info

Purchase APR: 16.49%Grace period: 23 days
Transfer APR: 0% for 15 months for transfers that post to your account within 45 days of opening your account. 16.49% for transfers that post after that date.Annual fee: $495
Cash advance APR: 26.74%Balance transfer fee: 3% ($5 minimum)
Minimum interest charge: $0.50Cash advance fee: 5% ($10 minimum)
Foreign transaction fee: None
Late payment fee: Up to $39
Returned payment fee: Up to $39
Customer service contact info
844.LUX.CARD7 a.m.—12 a.m. EST
7 Days a Week

Authorized-User Policy

You can add an authorized user to your account by paying $195 per authorized user. The authorized user will receive their own Priority Pass membership, but they don't receive the $100 airline statement credit or Global Entry statement credit. The authorized user's purchases will also earn points, which get added to the primary cardholder's account.

Is This Card Right For You?

While the Luxury Card™ Mastercard® Black Card™ offers several valuable cardholder benefits and rewards on purchases, the real value in the card is its potential as a status symbol. You can earn more rewards and get better benefits while paying lower annual fees with a different card, and you'll need to decide if the conversations this card might spark will be worth the nearly $500 annual fee.

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