Black Card Interest Rate

The black card is one of the most elite credit cards on the market today.  If you’re looking for luxury then you should consider the various black cards on the market today.  Each card offers some great perks and a fabulous concierge service that is available 24-hours a day / 7 days a week.  Most black cards available of the market today come with an interest rate that is comparable to other credit cards, while the American Express Centurion Black Card requires members to pay their entire balance at the end of each month. 

The Visa black card has an introductory interest rate of zero percent for the first six billing cycles after the account is opened.  After the first six months, the interest rate on the black card becomes 13.24% variable rate.  Any cash advances will cause you to have an interest rate of 21.99%.  In the event you are late with your payment, Barclays will tack on a 30.24% interest rate.  If you are late on your payment, your APR will be increased indefinitely. 
Even though the American Express Centurion Black Card does not have an interest rate, since members are required to pay their balance off in full the following month, they still have fees associated with being a member.  Black card members must pay a $5,000 initiation fee and an annual fee of $2,500, which equates to a little over $200 a month to stay a member.  Members must also spend at least $250,000 annually on the Centurion Black Card.

Mastercard World Elite Black Card is offered through Saks Fifth Ave, Ameriprise, and BMO and all require members to pay an annual fee of at least $150 plus the card has a variable interest rate of at least 13.99%, which is based on the prime rate plus 10.74%. Cash advances are based on prime plus at least 20%.
As you can see, there is a required interest rate that all cardholders must pay except for the American Express Black Card.  Please note that these rates can fluctuate, since they all carry a variable interest rate.  If you are good at paying off your card each month, then this variable rate will not matter much.  Qualified applications usually have low debt levels and card a credit score of at least 700.  If you’re looking for a card that offers luxurious gifts and perks then the black card may be right for you.

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