Click here to access all of my FREE personal finance Excel spreadsheets!
Are the Visa Black Card’s target market that worthless that they need a card “made with carbon” to be liked and appreciated?
In the late 80’s and early 90’s it was all about the “prestige” of having a “gold” credit card. In the late 90’s and 2000’s, you were “nobody” if you didn’t have at least a “platinum” credit card. In recent years, the most pretentious consumers have proudly flaunted their “diamond” credit cards bringing us to where we are today…enter Visa’s new “Black Card”.
Check out the letter I received yesterday from Visa regarding my pre-approval for the new “Black Card”:
Apparently, self worth and elitism are still key factors in the marketing of credit cards even after the humbling reality of the “Great Recession”.
“Guaranteed to get you noticed“?…are you serious people? Are the Black Card’s target market that worthless that they need a card “made with carbon” to be liked and appreciated? Perhaps the card is made of lightweight carbon to lighten the burden of the $495 annual service fee the company charges.
“Limited to only 1% U.S. residents”?…I think VISA is being a little overly optimistic that 1% Americans would even want to pay $495 for this ridiculous credit card (let alone qualify for one).
What Does the World’s Most Exclusive Credit Card Offer for Customers?
Well, for starters, you get a horrible interest rate at 14.99% (my standard USAA Credit Card offers 9.9%).
Second, you get the same ridiculous late fees and over your limit fees of up to $35 (depending on how much your particular state will let them soak you for).
The only significant advantage with this card is the fact you get VIP access to the executive clubs of most major airlines (only worthwhile if you spend a lot of time in airports).
Oh, and don’t forget the 24-hour concierge service (not really sure what I would need that for either).
The card also offers “luxury gifts” to card members as well as an “exclusive” rewards program (which doesn’t seem that much more distinguished from the rewards offered by my “plain Jane” USAA credit card.
I don’t plan on getting this card anytime soon, but if you’ve had a unique experience with the added features available with this card, I would love to hear about your experiences in the comment forms below!
THANKS for reading my personal finance blog! You can learn more about my site here or you can jump right into the juicy stuff by reading my family's own detailed debt free success story (which has formed the foundation of this site). Please consider signing up for my free email updates!