A black credit card is a super-premium credit card that offers more status and benefits than standard, gold or platinum credit cards. The use of the term "black" for this type of credit card refers to the level of the account, similar to the way frequent flyer programs have different status levels.
So in the case of credit cards, black is generally the best you can get. This means black cards are designed for the highest earners and spenders, with features ranging from generous rewards programs and complimentary insurance policies to travel perks and dedicated concierge services.
The Big Four Banks – ANZ, CommBank, NAB and Westpac – all offer black-tier credit cards. Other major lenders including American Express, Bankwest, Citi and St.George also offer black cards.
According to the Finder database of over 290 cards, there are currently 13 lenders in Australia offering black or an equivalent level of credit card. Sometimes these cards are known by other names, such as Visa Signature or World Mastercard, but still offer top-tier perks.
Every black card has its own mix of perks, but some of the most popular features include:
💡 Tip: When you’re looking for a black card, it’s a good idea to go through all the features or even ask the credit card company about any specific benefits you want.
The annual fee and interest rate for purchases are two of the key costs to look at when you're comparing credit cards. Here's what to expect with a black credit card:
Black cards often have a higher annual fee than other credit cards, typically around $300 to $750. But the American Express Centurion has an annual fee of $5,000 and is one of the most prestigious black cards in the world.
To put this in perspective, platinum card annual fees typically range from $59 to $450 (although they can be higher too).
Interest rates for black credit cards typically range from around 19% to 24% for purchases, which is at the high end of the scale for credit cards in Australia. And unlike platinum, gold or standard cards, there aren't any black-level low rate credit cards.
Black credit cards are suited to people with high incomes who spend a lot on credit cards each month.
You also need to meet the eligibility requirements, which could include a minimum income of between $65,000 to $120,000 (or more) depending on the card. You will also need to have a good or excellent credit rating.
But meeting the application requirements doesn’t necessarily mean you should get a black credit card. If you rarely use a credit card, for example, you won’t be able to make the most of the benefits. This could mean that the annual fee costs you more than any value you get from the card.
On the other hand, if you're a big spender, frequent flyer or someone who will take advantage of features such as travel insurance and airport lounge access, the benefits could help offset the costs of getting a black credit card.
Ideally a black credit card (or any card) should offer you value through a mix of features that can justify its costs. So here are some of the key features to look at (outside of fees and interest rates) when you're comparing cards.
Some black credit cards have a bank rewards program, such as the ANZ Rewards Black. Others are linked to frequent flyer programs including Qantas and Velocity. A range of black credit cards also let you choose between earning rewards or frequent flyer points per $1 spent.
For example, the Westpac Altitude Black offers Westpac Altitude Points, Velocity Points or Qantas Points.
Compare complimentary extras based on what’s practical and valuable to you. For example, someone who often pays for entry to airport lounges might want a black card that has complimentary Priority Pass membership, while someone else might place a higher value on a card that offers a flight or travel credit.
The terms and conditions and the level of service you get with a black credit card also impact its overall value. For example, the quality of customer service offered could be very different between banks or brands. Likewise, the coverage available with complimentary insurance can be different depending on the partnering insurance company.
If you want to get a new black credit card, you could also enjoy bonus points, a 0% interest rate offer or a reduced or $0 annual fee for the first year. Some cards may offer a combination of introductory offers, which all have the potential to add value to the card you choose in the short term. Make sure you check the details of introductory offers and look at the ongoing or standard costs to determine the long-term value of each black card you compare.
💡 Remember: Even though black credit cards are very premium options, the most important thing is to the right card for your circumstances so that it really works for you (and not the other way around). If you don’t think a black card is for you, start comparing other cards down the ladder to find an option that suits your needs.Back to top
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