The Visa Black Card, distinct due to its carbon composition rather than the traditional plastic, boasts remarkable benefits for its members. However, it’s worth noting that it comes with substantial charges. The membership is limited (to about 1% of the American population), making it an ideal option for regular travelers who can appreciate its travel benefits.
Among its many offerings, the Visa Black Card presents its members with VIP access to over 600 airport lounges across 100+ countries. Members can accumulate their rewards either as cash back or airline rewards. Choosing the cash back option enables them to get 1% cash back on all eligible purchases, while airline rewards start from as low as 25,000 points, exchangeable for a $500 air ticket.
A standout feature of the Visa Black Card is the round-the-clock concierge service, providing card members with personal assistance at any hour. The concierge team can assist with entertainment planning, specialized services, business amenities, travel help, and more. In practical terms, they can guide you with airline, hotel, and car bookings, among other things.
Additional benefits comprise:
– Zero liability: cardholders aren’t held accountable for unauthorized charges.
– Purchase security: in case an item purchased with the Visa Black Card is either stolen or damaged within 90 days of its purchase, cardholders are reimbursed up to $500 or their item is repaired or replaced.
– Extended warranties: warranties on purchased items can be extended by up to one year.
– Lost luggage reimbursement: in the unfortunate event of losing or having luggage stolen, cardholders are reimbursed up to $3,000 provided the ticket was bought with the Visa Black Card.
– Trip interruption/cancellation coverage: in case of unforeseen flight delays or cancellations, cardholders can receive up to $1,500 as reimbursement.
– Baggage delay insurance: cardholders can claim up to $100 a day for three days for essential items when their luggage is delayed.
While the Visa Black Card offers numerous benefits especially tailored for frequent travelers, high fees and penalties tagged along, specifically late payment. Here are some potential Visa Black Card penalties and charges:
– An initial 14.99% APR, contingent on credit score.
– A 30.24% penalty APR if a cardholder makes a late payment, exceeds the credit limit, or his payment is returned. This APR is based on the prime rate and may vary. If no more infringements are made after six months from paying the penalty APR, the standard rate is restored.
– A 25.24% APR for cash advances, also based on the prime rate.
– An annual fee of $495, Plus $195 for each added user.
– A flat 3% foreign transaction charge.
– Returned payment and late payment charges of $35, each.
