Preapproval for a Luxury Credit Card

April 20, 2020

By Martin Norris

The Luxury Card Gold MasterCard offered by Black Card LLC and issued by Barclays Bank Delaware is a credit card that offers a lot. The drawback here is that, to get what this card offers, you have to pay for it. In most cases, another card will offer similar benefits or greater value due to a much lower annual fee and broader redemption offers.

Outside of the over-hyped rewards program, the has relatively low interest, incredibly high annual fees and additional card fees, and a decent introductory offer. None of these things make this the type of card most people should go for. The Luxury Card MasterCard Gold appears to be more about faux-status and marketing than providing real value.

The annual fee on this card is $995. No benefit it offers helps justify this cost. However, the double point value on cash back may make this seem worthwhile. However, you'll have to make qualifying purchases in excess of $49,750 per year just to cover the annual fee with cash back or airfare redemptions. After that, your cash back will truly count as a "reward".

If you can make the math work for you, this could be a card worth having as it's likely you've already exhausted all of your other options or may be collecting for the sake of collecting. If you want to get the best value for your investment, this isn't the card to apply for or use.

The APR for purchases made with the Luxury Card MasterCard Gold from is just 14.99% for all cardmembers at this time. This is a variable rate number so it may change a little over time with the Prime Rate. APR for cash advances is also lower than the average for most credit cards at 25.24%. This is also a variable rate so it, too, will change with the Prime Rate.


  • Annual Fee – The annual fee for the Luxury Card MasterCard Gold is $995, starting the very first year. This makes the 2x point redemption break-even cost around $50,000 spend on qualifying purchases.
  • Cash Advance Fee – The cash advance fee for the Luxury Card MasterCard Gold is the greater of $10 or 5% of the total cash advance granted.
  • Foreign Transaction Fee – There is no foreign transaction fee, calculated in USD.
  • Late Payment Fee – The late payment fee is capped at $15 for Iowa residents. All other cardmembers will pay up to $39 for all late payments.
  • Return Payment Fee -  The returned payment fee is capped at $15 for Iowa residents. All other cardmembers will pay up to $39 for all returned payments.
  • Authorized User Fees – There is a $295 authorized user fee. Authorized users do not have all of the same privileges and power as the main account holder.
  • Balance Transfer Fee – The balance transfer fee for the Luxury Card MasterCard Gold is the greater of $5 or 3% of the total balance transfer.

One point is earned for every $1 spent on qualifying purchases. Points are not limited. Points may be redeemed as either cash back, a statement credit, as a gift card, for merchandise, or travel expenses.

Redeeming points for either airfare, a statement credit, or cash will result in an average redemption rate of 2x. This means, for example, that 500 points could get you $10 cash or just $5 in gift cards, on average.

There are a few rules for the reward program. First, you are only eligible to earn rewards as long as your account is in good standing and “active”, meaning it must be used at least once every 7 months. Beyond this, you are prohibited from using the Luxury Card MasterCard Gold for any business expenses or any expenses deemed “gaming conduct” or gambling. If you fail to follow any of these and other rules, your rewards privileges will be lost and any accrued rewards will be forfeited. Missed payments may also be grounds for loss of rewards privileges.

Refunds of points for canceled or altered travel plans are never given. Additional fees will also apply for cancellations or alterations of airfare booked with points. Further, all bookings must be made through Luxury Card's travel portal or their affiliated travel agency. Points and redemption may be taxable in some areas.

Credits and Perks for

There are three main perks beyond the rewards program. First, you will receive access to “Priority Pass”. This service grants you access to a select list of airport lounges at no additional cost. There is also a $100 Global Entry or TSA Pre-Check credit you may be eligible for if you use the Luxury Card MasterCard Gold to sign up for these services.

If you book airfare and make all of your airline purchases with the Luxury Card MasterCard Gold, you may also be eligible to earn up to $200 in airline credit per year. These credits may be used to cover baggage fees, lounge access, and select in-flight purchases. They will not apply to all purchases or airlines.

Pros – Advantages of the Luxury Card MasterCard Gold Credit Card

  • Credits – Frequent fliers will appreciate the $300 they could receive in flight-related credits most years.
  • Lounge Access – All cardmembers in good standing are enrolled in the Luxury Card's own lounge access program.
  • Double Redemption Rate – Earning one point per dollar for a card this expensive doesn't make a lot of sense. The double redemption rate on all cash back with no cap is the only thing that helps justify this strategy.

Cons – Disadvantages of the Luxury Card MasterCard Gold Credit Card

  • Very High Annual Fee – Any annual fee that requires over $50,000 spent to work off with that card's rewards program makes that program more of a chore than a reward.
  • No Truly Unique Advantages – There are few if any advantages found with the Luxury Card MasterCard Gold that you couldn't get elsewhere for less.

The has fairly low interest, a decent rewards program for those interested in cash back or travel rewards, and a few small perks added for frequent fliers. However, all of these perks are available, save for this flavor of lounge access program, on many other cards. Cards that come with an annual fee that's closer to 1/10th or, at most, 1/3rd of what this card asks you to pay. Most of these other cards also waive any authorized user fees with the same restrictions on access or even more inclusive access for these authorized users.

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