In these tough economic times, it seems almost inconceivable that anyone would actually pay $450 a year for a “Black” Credit Card. After all you can get all kinds of cards for no annual fee! You can even get frequent flier miles cards for free these days See Fly Free. Note: In this article we will look specifically at the features of the Visa Black Card but at the end you will be able to compare some of the other cards available. (Some cost much less).
Q: First of all if you can get a card for free… why pay for a “Piece of Plastic”.
A: Well the first thing is it isn’t even plastic… it is a special “Black Carbon Graphite”. So it doesn’t even feel like plastic. The card itself is special… no more worn ratty looking cards in your wallet. According to their website, the Black Card is made with carbon, creating a more unique card, guaranteed to get you noticed.
Q: Yeah, I hate not being able to read my cards because the numbers are worn off but is that worth $450?
A: Probably not for most readers. But this card isn’t designed for most readers. Well, as a matter of fact most readers won’t even qualify… they limit the card to only those with an exceptional credit history. Once again they say, “The Black Card is not for everyone. In fact, it is limited to only 1% of U.S. residents to ensure the highest caliber of personal service is provided to every Cardmember”.
Q: OK, so beyond a sense of exclusivity what else does it have to offer?
A: Well, 1% cash back. So for those who spend $45,000 a year the card actually costs nothing.
Q: But other cards offer cash back. There must be more to it than that!
A: Well, how about Luxury Gifts? “Black Card members deserve the best of the best. Members will receive Luxury Gifts from some of the world’s top brands”.
Q: OK, free Luxury gifts,sounds good,everyone likes luxury and gifts… you mean like those fancy soaps I see in the upscale hotels? I know those things are expensive. I just did a quick search and the first thing I found was a six bar set called the Awaken Cleanse Bar Set from Molton Brown for $49. so I suppose a couple of those kind of things would add up quickly but I’m still not convinced it’s worth $450 a year.
A: For those who travel a lot, there is a neat feature I’m sure you’ve seen in most airports these days called a travel lounge. It’s almost like a mini hotel. They are an excellent place to catch up on work between flights with email, internet and conference space, comfortable desks with places to plug in your laptop, available printers and wireless access. No more balancing your computer on your lap, sitting on the floor next to a pole to find a place to plug in. Depending on how valuable your time is … one round trip… two eight hour layovers… you do the math.
Q: What if I don’t have to travel for work?
A: If you don’t have to work on your next trip… they also have leisure facilities. Store your carry-on in a secure place and stretch out on a roomy comfortable sofa with a magazine… instead of watching it like a hawk while crowded on a hard plastic seat.
How about complimentary refreshments and snacks… instead of $5 bottled drinks and airport snacks. Friendly hostesses… instead of crying babies. And what I find most beneficial is just the peace and quite. Airports are so noisy and crowded they give me a headache, stepping into a quiet lounge is like an Oasis in a desert of noise.
Q: How much is all that worth?
A: Usually, an annual pass to these lounges costs you between $99 and $399 anyway, so if you combine all that with a Black Credit Card the cost is getting close to what a lesser card would cost.
Q: OK, so between the cash rebate and the luxury gifts and the travel lounge I’m getting quite a bit for my money, maybe even more than if I bought them separately… But why do I need one?
A: In the best seller “The 4 hour Workweek” Timothy Ferriss gives his key to being the most productive. His solution… Do the least amount of actual work possible and then multiply your efforts by hiring a “Virtual Assistant” or “VA” to do menial tasks for you… like making reservations at restaurants or health clubs, getting tickets to sporting events, even basic research.
Contacting hotels, arranging for Visa’s or customs, or finding an unusual household item takes time. Tim even recommends having them perform basic research for articles you are writing etc. For this he recommends a service that usually is based in some low cost country and so then you can actually have your own personal assistant to free up your time for more important tasks.
When reading this book this sounded like an excellent idea. If your time is worth $50 an hour why spend it doing $10 an hour tasks?
But to tell you the truth I’ve never gotten around to hiring a personal assistant. But this is where the “Black Card” really shines… it comes with a full concierge service so you can have your own personal assistant to handle flight information, car rentals, mailing/faxing stuff for your meeting, finding a tailor or dog groomer or the perfect gift for your spouse or client.
How about finding a rare book or the times for that performance? What about more esoteric things like Foreign protocol information or a Message service? Or on site Computer rental, audio/visual equipment referrals & arrangements?
Hmm, a personal assistant? This could really free up a lot of time and this is where the “Black Card” really shines.
The next step of course is to compare the various cards and see which ones might be right for you… some cost considerably less than $450.
See Also:
- High Performance Savings Accounts
- Choosing The Best Bank
- Top 10- Nicest Affordable Cars
- How to Up Your Credit Score
- How To Develop Winning Money Management Skills
Recommended by Amazon:
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
- The Skinny on Credit Cards: How to Master the Credit Card Game
- How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line
- BestCredit: How to Win the Credit Game
- The Credit Repair Black Book: Credit Repair Secrets and Strategies the Credit Bureaus Won’t Tell You