A black credit card with no annual fee is the RBC Bank Visa Signature Black Credit Card. You’ll earn 1 point per $1 spent on all purchases. There’s also 0% interest for 6 months on purchases and balance transfers, with a 3% transfer fee. You’ll also get hotel upgrades, discounts on fine dining, and other travel privileges.
Black credit cards are a class of super-exclusive, high end credit cards that are black in color. While the RBC black card offers a decent set of benefits for no annual fee, it is hardly in the same league as the Black Gold Standard of black cards: The American Express Centurion card.
Shrouded in secrecy, the Centurion reportedly requires you to spend at least at least $250,000 a year on American Express cards. And that’s just to get an invitation to apply. If you are lucky enough to garner an invitation, you’re still on the hook for some hefty fees. The initiation fee is rumored to run between $5,000 and $7,000, and the annual fee is $2500.
The Mastercard Black Card doesn’t require an invitation or an initiation fee like the Centurion, but it does command a $495 annual fee.
A black credit card with no annual fee is a good deal when compared to its high-priced brethren. But for customers who don’t have the money high-end cards require, there’s much better value in rewards cards of all colors.
Rewards cards such as the Capital One Venture, Citi Double Cash and Chase Sapphire Preferred cards offer little in terms of social status. But cardholders will come away with a solid array of rewards and benefits without the ridiculously high fees.
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