Black credit cards

Black credit cards are the most prestigious currently available. They have high credit limits and have a range of benefits as standard such as a higher earn rate on rewards and 24/7 concierge services.

By   |   Verified by David Boyd   |   Published 27th August 2020

Comparing black credit cards

ANZ Rewards Black Credit Card

On ANZ's website

ANZ Rewards Black Credit Card

Balance transfer

N/A

Purchase rate

20.24% p.a. ongoing

Annual fee

$375.00 p.a. ongoing

Highlights

  • Receive 150,000 points when you spend $4,000 on eligible purchases in the first 3 months from approval.
  • Free International Travel Insurance.
  • Eligibility criteria, T&Cs, fees and charges apply.
Westpac Altitude Black Credit Card (Altitude)

On Westpac's website

Apply by 11 November 2020

Westpac Altitude Black Credit Card (Altitude)

Balance transfer

N/A

Purchase rate

20.49% p.a. ongoing

Annual fee

$250.00 for 1st year

Highlights

  • Receive 150,000 Altitude bonus points when you spend $4,000 on eligible purchases within 90 days of card approval. Exclusions apply. Qantas rewards fee applies.
  • Earn up to 6 Altitude points per $1 spent (terms and conditions apply).
  • Complimentary Insurances: Overseas Travel, Extended Warranty, Purchase Security and Transit Accidents (terms and conditions apply)
Kogan Money Black Card

On Kogan Money's website

Apply by 31 October 2020

Kogan Money Black Card

Balance transfer

22 months at 0% p.a.

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • No annual fees.
  • 0% p.a. for 22 months on balance transfers with 1% balance transfer fee. Reverts to cash advance rate of 21.74% p.a.
  • Earn $50 Kogan.com Credit when you are approved and spend $1000 or more on everyday purchases in the first 60 days.
American Express Qantas Ultimate Credit Card

On American Express' website

American Express Qantas Ultimate Credit Card

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Annual fee

$450.00 p.a. ongoing

Highlights

  • Receive 55,000 bonus Qantas Points when you apply online, get approved and spend $3,000 on your new card within the first 3 months. New Card Members only.
  • Earn 1.25 Qantas Points for every $1 spent on card purchases, except spend at government bodies in Australia where you will earn 0.5 Qantas Points per $1 spent.
  • $450 Qantas Travel Credit each year (conditions apply).
NAB Qantas Rewards Signature Card

On NAB's website

NAB Qantas Rewards Signature Card

Balance transfer

6 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$295.00 for 1st year

Highlights

  • Earn up to 130,000 Qantas Points. Get 100,000 points when you spend $3,000 in the first 60 days from account approval date and an additional 30,000 points after 12 months.
  • 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).
  • Complimentary Qantas Frequent Flyer membership fee valued at $99.50.
  • Seven complimentary insurances when you make an eligible purchase.
American Express Explorer Credit Card

On American Express' website

American Express Explorer Credit Card

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Get 50,000 Membership Rewards points when you apply online, are approved and spend $3,000 in the first 3 months. New Card Members only.
  • Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
  • T&Cs and eligibility criteria apply. Available to new card members only.
St.George Amplify Signature Credit Card (Amplify)

On St.George's website

Apply by 30 September 2020

St.George Amplify Signature Credit Card (Amplify)

Balance transfer

6 months at 0% p.a.

Purchase rate

19.74% p.a. ongoing

Annual fee

$139.00 for 1st year

Highlights

  • Earn up to 200,000 Bonus Amplify Rewards Points over 2 years when you spend $12,000 on eligible purchases each year. Plus, receive a birthday points bonus of 10% of the points earned in the last 12 months.
  • 0% p.a. for 6 months on balance transfers with 0% balance transfer fee on amounts transferred.
  • Reduced annual fee of $139 in the first year, currently saving you $140.
Bank of Melbourne Amplify Signature Credit Card (Amplify)

On Bank of Melbourne's website

Apply by 30 September 2020

Bank of Melbourne Amplify Signature Credit Card (Amplify)

Balance transfer

6 months at 0% p.a.

Purchase rate

19.74% p.a. ongoing

Annual fee

$139.00 for 1st year

Highlights

  • Earn up to 200,000 Bonus Amplify Rewards Points over 2 years when you spend $12,000 on eligible purchases each year.
  • Reduced annual fee of $139 in the first year, currently saving you $140.
  • 0% p.a. for 6 months on balance transfers. Reverts to cash advance rate of 21.49% p.a.
BankSA Amplify Signature Credit Card (Amplify)

On BankSA's website

Apply by 30 September 2020

BankSA Amplify Signature Credit Card (Amplify)

Balance transfer

6 months at 0% p.a.

Purchase rate

19.74% p.a. ongoing

Annual fee

$139.00 for 1st year

Highlights

  • Earn up to 200,000 points bonus Amplify Rewards Points* over 2 years when you spend $12,000 on eligible purchases each year. Exclusions apply.
  • Reduced annual fee of $139 p.a. in the first year, currently saving you $140.
  • Enjoy 0% p.a. for 6 months with 0% fee on Balance Transfers requested at new card application. Rate reverts to cash advance rate.

Learn about black credit cards

Find out how to make the most of the many benefits that await black credit cardholders.

  • FAQs

Are black credit cards better than gold or platinum cards?

Black cards are better in the sense that they have a higher status and more benefits than gold or platinum cards from the same issuer. They also have higher annual fees.

Are the extra benefits worth the higher fee?

Cardholders who are relatively big spenders and regular travellers, who channel the majority of their spending through a single black card and pay off their card balance every month, should have no problem recouping the value of the fee several times over every year.

Are there any black credit cards with low interest rates?

No. Black credit cards are not aimed at cardholders who are concerned about interest rates because they expect to have an unpaid purchase balance for long periods. Interest rates on black cards usually exceed 20% p.a.

Can I get sign-up bonus points with a black credit card?

Definitely. Most black credit cards offer at least 75,000 sign up bonus points, and the number can be as high as 100,000 or even 150,000. The offers go up and down, and a card’s bonus points offer may occasionally disappear altogether for a short period. But at any one time there are usually several black cards offering bonus points.

Most credit cards with bonus points require cardholders to reach a set spending target within the first two or three months of holding the card.

How much does it cost to have a black credit card?

Currently most black cards have an annual fee in the $300 to $400 range. The Citi Prestige card has a much higher fee ($700, or $749 if you choose to earn Qantas points) but its complimentary benefits are stellar.

What are the eligibility requirements for a black credit card?

Most card issuers are looking for a minimum income of $75,000 and a good or excellent credit rating, which you can check here.

What exactly is a black credit card?

Although it also describes the colour of the card, the word ‘black’ actually refers to the card’s status when compared with other cards. A black card is higher up the ladder than gold and platinum, comes with more complimentary benefits, often has a higher and less restricted loyalty points earning rate, and inevitably costs more in terms of the annual fee.

What sort of benefits can I expect with a black credit card?

Black credit cards are almost always rewards cards, with a higher points earning rate per dollar spent. There will be no monthly points cap to limit earning; if there is a cap, it is likely to be a generous one. Complimentary benefits usually include travel insurance, shopper’s insurance and a concierge service, as a minimum. Some black cards offer airport lounge access passes, free flights or travel vouchers, luxury hotel group membership, prestige events and more.

Who are the issuers of black credit cards?

The Big Four banks plus American Express, Bankwest, Citi, HSBC and Macquarie. The word ‘black’ may not always appear in the card’s name. Some black card issuers use terms like Premium, Diamond, Prestige, Premier and Signature.

Who should consider applying for a black credit card?

Black credit cards are intended for higher income earners, relatively big spenders who make most of their purchases using a credit card. They are probably regular travellers for either business or leisure. The extra rewards points they can earn, and additional complimentary benefits they can make use of, allow them to recoup far more than the value of the high annual fee.