Black Credit Cards

Compare black credit cards, the most prestigious options available. They offer high credit limits, enhanced rewards earn rates, and premium benefits like 24/7 concierge services.

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Updated 12 Dec 2024   |   Rates updated regularly

Comparing of 7 black credit cards

Apply by 30 April 2025
Westpac Altitude Black Credit Card (Altitude)

On Westpac's website

Rewards program

Altitude Rewards

Points per $1 spent

1.25 Altitude Rewards points

Sign up bonus

100,000 Altitude Rewards points

Annual fee

$200.00 for 1st year

Details

  • Earn up to 150,000 bonus Altitude Points (equivalent to up to $700 in eGift cards). Receive 100,000 Altitude bonus points by spending $6,000 on eligible purchases within 120 days of card approval. Additionally, get 50,000 points after your first eligible purchase in year 2. Exclusions apply.
  • Earn 6 Altitude points per $1 on Qantas, Jetstar, Singapore Airlines, and Emirates flights bought in Australia, subject to eligibility criteria.
  • Redeem your points for gift cards, travel, transferring to partner airline programs, and other rewards.
  • Get 2 free Priority Pass lounge visits each year.
  • Use the Concierge Service to book experiences online, including exclusive tickets, last-minute reservations, and more.
  • Comes with complimentary insurance, including Interstate Flight Inconvenience, Rental Vehicle Excess, international travel coverage, extended warranty, purchase protection, and overseas transit accident insurance.

Pros & cons

Pros
  • Earn up to 150,000 bonus Altitude Points when you meet the criteria.
  • The discounted annual fee for the first year.
  • Earn 2 points per $1 spent at Spotify Premium, David Jones, Myer, THE ICONIC, Airbnb, Uber and Uber Eats
  • Earn 1.25 points per $1 spent on other eligible purchases.
  • No limit on the points you can earn, which is great for high spenders.
  • Add 1 additional cardholder at no extra cost.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • The high annual fee of $295 p.a. after the initial year.
  • There is no introductory balance transfer offer, so it’s better suited for everyday spending than consolidating debt.
  • A 3% fee applies to foreign transactions made with your card.
Apply by 30 April 2025
St.George Amplify Signature Credit Card (Amplify)

On St.George's website

Rewards program

Amplify Rewards

Points per $1 spent

1.50 Amplify Rewards points

Sign up bonus

150,000 Amplify Rewards points

Annual fee

$199.00 for 1st year

Details

  • Earn 150,000 Bonus Amplify Rewards Points (equivalent to up to $675 in eGift cards) by spending $12,000 on eligible purchases in your first year. Terms and Conditions apply.
  • Earn 1.5 points for every $1 spent on eligible domestic and overseas purchases.
  • Redeem your points for gift cards, travel, transferring to partner airline programs, and other rewards.
  • Get 2 free Priority Pass lounge visits each year.
  • Use the Concierge Service to book experiences online, including exclusive tickets, last-minute reservations, and more.
  • Comes with complimentary insurance, including Interstate Flight Inconvenience, Rental Vehicle Excess, international travel coverage, extended warranty, purchase protection, and overseas transit accident insurance.

Pros & cons

Pros
  • Earn 150,000 Bonus Amplify Points when you meet the criteria.
  • No limit on the points you can earn, which is great for high spenders.
  • The discounted annual fee for the first year.
  • Access Visa’s Luxury Hotel Collection, offering perks like room upgrades and late checkouts.
  • Add 1 additional cardholder at no extra cost.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • After the first year, the annual fee reverts to $295 p.a., so factor this into long-term costs.
  • There is no introductory balance transfer offer, so it’s better suited for everyday spending than consolidating debt.
  • A 3% fee applies to foreign transactions made with your card.
NAB Qantas Rewards Signature Credit Card

On NAB's website

Rewards program

Qantas Frequent Flyer

Points per $1 spent

1 Qantas Point

Sign up bonus

90,000 Qantas Points

Annual fee

$295.00 for 1st year

Details

  • Gain up to 120,000 bonus Qantas Points. Acquire 90,000 bonus points upon spending $3,000 within the initial 60 days from account approval date and an additional 30,000 bonus points upon maintaining your card open for over 12 months. Terms and conditions apply.
  • Benefit from 0% on balance transfers for 12 months with a 3% Balance Transfer Fee.
  • First-year annual fee reduced to $295 p.a. from $395 p.a. (saving you $100).

Pros & cons

Pros
  • Complimentary Qantas Frequent Flyer membership fee valued at $99.50.
  • Six complimentary insurances when you make an eligible purchase.
  • Earn 1 Qantas Point per $1 spent on everyday purchases up to $5,000 per statement period then 0.05 pts per $1 spent thereafter (capped at $20,000).
Cons
  • Annual fee of $395 p.a. is quite high.
Apply by 30 April 2025

Rewards program

Amplify Rewards

Points per $1 spent

1.50 Amplify Rewards points

Sign up bonus

150,000 Amplify Rewards points

Annual fee

$199.00 for 1st year

Details

  • Earn 150,000 Bonus Amplify Rewards Points (equivalent to up to $675 in eGift cards) by spending $12,000 on eligible purchases in your first year. Terms and Conditions apply.
  • Earn 1.5 points for every $1 spent on eligible domestic and overseas purchases.
  • Redeem your points for gift cards, travel, transferring to partner airline programs, and other rewards.
  • Get 2 free Priority Pass lounge visits each year.
  • Use the Concierge Service to book experiences online, including exclusive tickets, last-minute reservations, and more.
  • Comes with complimentary insurance, including Interstate Flight Inconvenience, Rental Vehicle Excess, international travel coverage, extended warranty, purchase protection, and overseas transit accident insurance.

Pros & cons

Pros
  • Earn 150,000 Bonus Amplify Points when you meet the criteria.
  • No limit on the points you can earn, which is great for high spenders.
  • The discounted annual fee for the first year.
  • Access Visa’s Luxury Hotel Collection, offering perks like room upgrades and late checkouts.
  • Add 1 additional cardholder at no extra cost.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • After the first year, the annual fee reverts to $295 p.a., so factor this into long-term costs.
  • There is no introductory balance transfer offer, so it’s better suited for everyday spending than consolidating debt.
  • A 3% fee applies to foreign transactions made with your card.
Apply by 30 April 2025

Rewards program

Amplify Rewards

Points per $1 spent

1.50 Amplify Rewards points

Sign up bonus

150,000 Amplify Rewards points

Annual fee

$199.00 for 1st year

Details

  • Earn 150,000 Bonus Amplify Rewards Points (equivalent to up to $675 in eGift cards) by spending $12,000 on eligible purchases in your first year. Terms and Conditions apply.
  • Earn 1.5 points for every $1 spent on eligible domestic and overseas purchases.
  • Redeem your points for gift cards, travel, transferring to partner airline programs, and other rewards.
  • Get 2 free Priority Pass lounge visits each year.
  • Use the Concierge Service to book experiences online, including exclusive tickets, last-minute reservations, and more.
  • Comes with complimentary insurance, including Interstate Flight Inconvenience, Rental Vehicle Excess, international travel coverage, extended warranty, purchase protection, and overseas transit accident insurance.

Pros & cons

Pros
  • Earn 150,000 Bonus Amplify Points when you meet the criteria.
  • No limit on the points you can earn, which is great for high-spenders.
  • The discounted annual fee for the first year.
  • Access Visa’s Luxury Hotel Collection, offering perks like room upgrades and late checkouts.
  • Add 1 additional cardholder at no extra cost.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • After the first year, the annual fee reverts to $295 p.a., so factor this into long-term costs.
  • There is no introductory balance transfer offer, so it’s better suited for everyday spending than consolidating debt.
  • A 3% fee applies to foreign transactions made with your card.
ANZ Rewards Black Credit Card

On ANZ's website

Rewards program

ANZ Rewards

Points per $1 spent

2 ANZ Rewards Points

Sign up bonus

180,000 ANZ Rewards Points and more

Annual fee

$375.00 p.a. ongoing

Details

  • Get 180,000 bonus Reward Points and $150 cash back upon spending $3,000 on qualifying purchases within the initial 3 months of approval.
  • Accrue 2 Reward Points for every $1 spent on qualifying purchases, up to $5,000 per statement period.
  • Enjoy complimentary international travel insurance.

Pros & cons

Pros
  • Receive 180,000 bonus ANZ Rewards points and earn a $150 cash back when you meet the criteria.
  • Earn 2 points per $1 spent on eligible purchases up to $5,000 per statement period.
  • There is no cap on the number of points you can earn.
  • Free international travel insurance and purchase protection insurance.
Cons
  • The $375 p.a. annual fee.
  • Doesn't come with lounge access.
  • No balance transfer offer.

Rewards program

Kogan Rewards

Points per $1 spent

1 Kogan Rewards point

Sign up bonus

N/A

Annual fee

$0.00 p.a. ongoing

Details

  • Receive $400 Kogan.com Credit upon spending $3,000 on qualifying purchases within 90 days from card approval.
  • No annual fees.
  • Free shipping on thousands of products, express shipping upgrades, and access to exclusive promos at Kogan.com and Dick Smith.
  • Plus, get $100 off your Kogan Energy bill with your FIRST membership.

Pros & cons

Pros
  • Don't miss the limited-time offer of $400 in Kogan.com Credit when you meet the eligibility criteria.
  • Earn 2 reward points per $1 on eligible purchases at Kogan.com and 1 reward point per $1 on other eligible purchases.
  • Uncapped rewards.
  • Use your points to shop at Kogan.com (1,000 points equals $10 in credit).
  • Add up to 4 additional cardholders at no extra cost.
  • Compatible with Apple Pay and Google Pay.
  • Shop confidently with FRAUDSHIELD® and Visa Zero Liability, keeping your transactions secure
Cons
  • There is a 3.4% foreign currency fee.
  • The ongoing cash advance rate is 22.74% p.a.

The gold card, once a symbol of aspiration, has been dethroned by the platinum card. However, the black card has now claimed the title of the ultimate personal card.

What is a black credit card?

While "black" refers to the card's colour, it primarily signifies the card's elite status compared to gold and platinum cards. Black cards come with premium complimentary benefits, often featuring higher and less restricted loyalty points earning rates, and inevitably command higher annual fees. Both personal and business users can access black level credit cards.

Some issuers may opt for alternative names like Premium, Diamond, Prestige, Premier, or the more recent Signature rather than using the term "black" in the card's name. However, the card's distinctive black appearance always indicates its status and potential benefits. Certain black credit cards are even crafted from metal.

Possessing a black card allows you to make a statement about your financial standing while enjoying enhanced rewards points, earning rates, and superior complimentary perks.

Expert opinion on black credit cards

David Boyd, co-founder of Credit Card Compare

David Boyd, co-founder of Credit Card Compare, explains his opinion of a black credit card, "It only makes sense to choose a black credit card if you intend to use it for every possible expense and then pay off the balance in full each month. The interest rate should only be a concern if you encounter a temporary liquidity issue or accidentally miss a payment due date. The bottom line is that card issuers don't market their black cards to individuals seeking low interest rates."

Who provides black credit cards?

According to Credit Card Compare's database, 13 card issuers in Australia offer black credit cards, including ANZ, American Express, Citi, CommBank, NAB, Virgin Money and Westpac. However, as a black credit card can simply refer to a provider's highest-status level card, some institutions, including the Big Four Banks, may list them under alternative names.

What are the benefits of a black credit card?

While benefits can vary significantly between black credit cards, most offer the following advantages:

  • Higher credit limits
  • Generous sign-up bonus offers
  • Increased rewards points earning rate per dollar spent
  • No points cap or a substantial cap
  • Complimentary travel insurance coverage
  • Complimentary shopper's insurance (extended warranty, purchase protection, price guarantee)
  • Dedicated personal concierge service

High end black card benefits

Black credit cards with the highest annual fees often include some of these additional perks:

  • Airport lounge access, sometimes with full membership or through passes
  • Complimentary annual domestic return flight
  • Complimentary airport transfers
  • Annual travel credit voucher
  • Enhanced insurance coverage
  • Luxury hotel group membership, complimentary nights, and room upgrades
  • Access to exclusive shopping, golf, and other experiences
  • Invitation-only events
  • Priority service for account queries, travel, and concierge assistance

When selecting a black card, it's crucial to ensure that its features align with your lifestyle rather than paying for benefits you won't utilise to maximise the value you receive.

If you're considering switching to a black credit card, it's wise to take full advantage of the opportunity. Transitioning to a new bank or issuer for your black card could offer two significant benefits:

  • Earning a substantial sign-up bonus – potentially up to 100,000 points, depending on the available offers;
  • You can transfer your existing card balance to the new card and enjoy an extended interest-free period on that balance, possibly up to 20 months.

In reality, black cards are more likely to offer bonus points than balance transfer promotions. However, it's also worth keeping an eye out for introductory low or zero interest rates on purchases or reduced annual fees for the first year, as these offers are occasionally available.

What are the disadvantages of a black credit card?

The fees and interest rates associated with black credit cards are among the highest in the market. However, if you can qualify for a black credit card, you're generally considered financially able to afford these costs.

The average purchase rate for a credit card has remained around 16% for years, with an average annual fee of approximately $130-$140. In contrast, the Qantas Money Premier Titanium credit card has an annual fee of $1,200 and a purchase rate of 19.99%.

For some Australians looking to keep their ongoing costs low, a $1,200 annual fee may be considered a disadvantage. However, these higher costs are likely to be common if you're in the market for a high-status credit card.

Andrew Boyd, co-founder of Credit Card Compare

Andrew Boyd, co-founder of Credit Card Compare, explains, "It's still important to compare your options to see what fees and interest rates are charged across the available black credit cards. This way, you can find one that suits your needs and budget. Despite the higher costs, black credit cards often come with premium features and benefits that may outweigh the expenses for some users."

How much do black credit cards cost?

Expect to pay a significantly higher annual fee for a black credit card compared to other card types, with the current median fee falling between $300 and $400 per year.

Although the annual fee for a black card is substantial, savvy cardholders can easily derive benefits that far exceed the fee's value. Even without being a big spender, you can recoup the annual fee through rewards points alone, as long as you channel most of your spending through the card instead of using cash or other payment methods. Frequent flyers will also appreciate the value of complimentary benefits like travel insurance, other insurance policies, and airport lounge passes, which can collectively be worth around $1,500 annually.

Don't anticipate a low interest rate with your black credit card. The interest charged on overdue purchase balances is likely to be at least 20% per annum, with even higher rates for cash advances.

How do I get approved for a black credit card?

Black credit cards are designed for higher income earners who are relatively big spenders and make most of their purchases using a credit card. To be eligible for a black credit card, you'll typically need an above-average income and a very good to excellent credit score.

  • Target market: Banks aim their black credit card offers at applicants who travel frequently for business or leisure. These individuals can earn extra rewards points and take advantage of additional complimentary benefits, allowing them to recoup far more than the value of the high annual fee.
  • Income requirements: The minimum income required varies between banks and specific cards, but expect it to be in the range of $65,000 to $70,000 per year, with some requiring even more. If you cannot provide proof of your income, it's best not to apply.
  • Credit score: Your credit score is crucial when applying for a black credit card. A good or excellent credit score is necessary, which implies no missed payments or recent negative credit history. Review your credit report before applying to ensure it meets the requirements.

Is a black credit card worth it?

If you're unsure whether a black credit card is worth the cost, there are several factors to consider when evaluating your options.

  • Can you meet the spending requirement for the sign-up bonus? Will you need to make unnecessary purchases just to earn the bonus points?
  • Will you pay off the balance each month? If you're unable to clear the balance, interest charges can quickly outweigh the value of the rewards and benefits provided.
  • Will you be able to use the card frequently? Can you channel enough spending through the card to earn sufficient points to justify the annual fee? Keep in mind that some merchants do not accept American Express.
  • Will you use the features offered? Black credit cards often include several complimentary insurances, airport lounge access, priority boarding, status, etc. Consider whether you'll use all of these benefits or if you can manage with fewer perks.
  • Can you consolidate other products you already have? For instance, does a black card combine the features of multiple cards, allowing you to simplify your finances and reduce waste? Can you replace existing paid memberships and subscriptions with your new card?

What to consider when comparing black credit cards

These cards are loaded with benefits, making the comparison process a task in itself. Here are the key aspects to examine:

  • Sign-up bonus: Most black credit cards offer new customers a substantial welcome bonus, often exceeding 100,000 points. However, it's crucial to review the terms and conditions of the offer, as they vary between cards. Banks typically require a certain amount of money to be spent on the card within 90 days of activation. Also, consider that some cards award bonus points on the account opening anniversary, which can be advantageous in the long run.
  • Earn rate: As expected, black credit cards boast higher earn rates. While an extra 0.5 points per $1 spent may seem insignificant, it can considerably impact your rewards account over time. Check for any restrictions on the number of points you can earn. Black credit cards usually have the most liberal and least restrictive policies on caps and tiers, but it's worth examining the details, especially if you're a high spender.
  • Rewards program: If you're already committed to a specific rewards program, the decision is straightforward. If not, consider factors such as your most frequent travel destinations, preferred domestic and international airlines, and favoured lounge network. If you value flexibility above all else, consider a credit card that allows you to transfer earned points to other programs, such as Membership Rewards, CommBank Awards, NAB Rewards, ANZ Rewards, Altitude Rewards, or Amplify Rewards.
  • Annual fee: Given that keeping your account open will cost hundreds of dollars annually, ensure that the higher points earn rate, welcome bonus, and lifestyle benefits are worth it for your specific needs and preferences.

Learn about black credit cards

What is a black credit card and do the benefits make it worth paying the annual fee?

  • FAQs

  • Pros & cons

  • Tips

  • Why trust us

What is the most exclusive credit card?

The American Express Centurion Card, often referred to as the 'AMEX Black Card,' is widely considered the most exclusive credit card available. The card's exclusivity is maintained by the air of mystery surrounding its eligibility criteria and application process, as cardholders can only become cardholders by invitation.

While AMEX does not publicly disclose the eligibility details, it is speculated that you need to spend at least $100,000 annually on your existing AMEX card and have a high income to be considered for an invitation.

The card's fame is such that it has its own Snopes page, with reports of extraordinary perks provided to cardholders. One entry claims that when a cardholder wanted to "locate and purchase the horse ridden by Kevin Costner in Dances with Wolves," the horse was located in a stud ranch in Mexico, purchased, and delivered to Europe.

To be considered for an invitation, you must be an existing AMEX member and an active user for at least a year. The card also reportedly comes with a $5,000 'initiation fee' and a $5,000 annual fee, further adding to its exclusivity.

What is the credit limit of a black credit card?

A black credit card typically offers a significantly higher credit limit compared to a standard credit card or, in some cases, no maximum credit limit at all. This feature may be considered one of the biggest advantages of being approved for this status level.

The American Express Centurion Card, also known as the 'Black AMEX', is famous for offering its customers no credit limit. Similarly, CommBank's Diamond Awards credit card and NAB's Rewards Signature cards also have no set maximum credit limit, with minimum limits starting at $15,000.

In comparison, if you look at the big four banks' black credit cards, two out of the four options do have maximum credit limits of $75,000. It's important to note that while a high or no credit limit may be appealing, it's crucial to use the card responsibly and within your means to avoid accumulating unmanageable debt.

When considering a black credit card, it's essential to assess your financial situation and spending habits to determine if the higher credit limit is necessary and beneficial for your specific needs.

Pros

Black credit cards are loaded with benefits

Banks love black credit card customers. They pay high annual fees, and their big-spending lifestyle generates lucrative merchant fees for the card issuer. So black credit cards come with many benefits to entice them to sign up and then retain their loyalty in subsequent years.

The points earning rate is usually high

Card issuers often offer a range of credit cards that earn rewards or frequent flyer points at different rates. Black credit cards are positioned at the top of these product ranges and typically feature the highest points earning rates compared to other cards offered by the same issuer.

This means that black card holders can generally accumulate rewards or frequent flyer points more quickly than those with lower-tier cards, providing an added incentive for high-spenders or frequent travellers.

Points will be uncapped, or have a generous cap

Holders of black credit cards are typically big spenders, but that doesn't mean they want to miss out on any value they're entitled to. So they don't appreciate annual or monthly caps that limit their points earning. Card issuers respond by having no cap on points or a very generous cap designed to limit points only on truly colossal purchases (such as buying a new car with a credit card).

Mega sign-up bonuses

Black card sign-up points bonuses, or more commonly, first-purchase bonuses tied to a spending target, are often impressive. If you're in the market for a black card, you may have the option to choose from various cards offering welcome bonuses ranging from 75,000 to 100,000 points or even more – sufficient to redeem for a long-haul flight.

These generous bonuses can provide significant value to new cardholders, but it's essential to consider the spending requirements and other terms and conditions associated with the bonus before applying.

Cons

High annual fee

There's no getting away from the fact that black credit card annual fees are high. They can be very expensive if you're not going to give the card a good workout every year, earning back the annual fee in the value of rewards points or other benefits.

High interest rate

A black credit card's interest rates on purchases and cash advances will be at the top end of the scale, likely to be at least 20% p.a. Instead, look for a low-cost, low-interest card if you expect to need cash advances or carry a balance from month to month.

Eligibility requirements

Qualifying for a black credit card is not easy, and sometimes, is invited only like the Amex Centurion. You'll have to jump through quite a few hoops. Your regular income will usually need to be at least $75,000, and your credit score will need to be at least 'Good', if not 'Very good' or 'Excellent'.

Don't consider a black card if you expect to pay interest

Applying for a black credit card is not worth it if you anticipate carrying a balance on your account beyond the payment due date regularly. While missing the occasional full repayment won't significantly diminish the card's value, black card interest rates are among the highest in the market.

Paying frequent interest charges will substantially erode the additional benefits provided by the card and could potentially negate them entirely. It's crucial to consider your ability to consistently pay off your balance in full each month before applying for a black credit card to ensure that the benefits outweigh the costs.

Do your research – black cards are not all the same

Applying for a black card is a serious decision, and paying the annual fee is a substantial commitment. To ensure you choose the right card the first time, carefully review the specific benefits offered and confirm that they align with your lifestyle. While most people can take advantage of travel insurance, free flights, and hotel privileges or discounts, not everyone will be interested in golf benefits or invitations to exclusive events.

It's also important not to assume that all black cards include airport lounge access – while most do, it's not a universal feature. Your goal should be to select a card that allows you to extract maximum value for minimum cost, tailored to your individual needs and preferences.

Improve and maintain your credit score

Before applying for a black credit card, your first step should be to obtain a free credit score check. To be eligible for a black card, you'll typically need a credit score that falls within the 'Good' to 'Excellent' range.

Track your benefits and use them every year

Certain black card benefits have an expiration date and must be used within 12 months of your card approval anniversary each year. These benefits cannot be carried over to the following year if unused. Additionally, some benefits may require a specific application process.

For instance, if your black card offers two single-entry airport lounge passes annually, you might need to apply for the passes well before your intended use date. It's important to note that if you don't use these passes within a particular year, you won't be able to accumulate them, meaning you can't roll them over to have four lounge passes available in the following year.

Sources

  1. Amex Membership Rewards Points Value Calculator — Credit Card Compare
  2. Australian loyalty schemes: a Loyalty & Reward Co report for the ACCC — APO
  3. Credit scores and credit reports – Moneysmart
  4. Managing debt – Moneysmart
  5. Priceless — Mastercard
  6. Qantas Points Value Calculator — Credit Card Compare
  7. Velocity Points Value Calculator — Credit Card Compare
  8. Visa Concierge — Visa Australia

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