Skip to main content
Advertiser Disclosure
We do receive compensation from some partners whose offers appear on this page. We have not reviewed all available products or offers. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.

The Ascent Logo The Ascent Logo - Blue circle with an A in it and the ascent a motley fool company to the right of that

  • Credit Cards
  • Banking
  • Brokerages
  • Loans
  • Mortgages
  • Knowledge
  • Latest Picks
  • Search Icon Click here to search

Credit Cards

Top Picks
  • Best of January 2021
  • Cash Back
  • Balance Transfer
  • Travel
  • 0% APR
  • Rewards
  • Bad Credit
Knowledge
  • Beginners Guide to Credit Cards
  • How to Rebuild Your Credit
  • Maximize Your Credit Card Rewards
  • Learn More About Credit Cards
Credit Card Tools
  • Compare Cards
Looking for a new credit card?

Explore the best credit cards in every category as of January 2021.

Get started!

Banking

Top Picks
  • Best Savings Accounts
  • Best Bank Accounts
  • Best Money Market Accounts
  • Best CDs
  • Best Checking Account Bonuses
Knowledge
  • Beginners Guide to Banking
  • Everything You Need to Know About Savings
  • Money Market Accounts Made Easy
  • Learn More About Banking
Looking for a place to park your cash?

Check out our top picks of the best online savings accounts for January 2021.

Get Started!

Brokerages

Top Picks
  • Best Brokers of January 2021
  • Best Online Brokers for Beginners
  • Best Options Brokers
  • Best IRA Accounts
  • Best Roth IRA Accounts
  • Best Robo Advisors
Knowledge
  • How to Open a Brokerage Account
  • Beginner's Guide to Brokerages
  • Learn More About Brokerage
Just getting started?

Explore our picks of the best brokerage accounts for beginners for January 2021.

Get Started!

Loans

Top Picks
  • Best Loans of January 2021
  • Best Personal Loans for Bad Credit
  • Best Loans for Debt Consolidation
  • Best Low-Interest Personal Loans
  • Best Personal Loans for Good Credit
  • Best Personal Loans for Fair Credit
Knowledge
  • Personal Loans Made Easy
  • Debt Consolidation Guide
  • How to Pay Off Debt
  • Learn More About Loans
Thinking about taking out a loan?

Before you apply for a personal loan, here's what you need to know.

Get Started!

Mortgages

Top Picks
  • Best Mortgage Lenders of January 2021
  • Best Mortgage Lenders for Poor Credit
  • Best Refinance Lenders
  • Best VA Mortgage Lenders
Knowledge
  • First Time Homebuyers Guide
  • Home Loans Made Easy
  • The Complete Guide to Refinancing
  • How to Get a Mortgage with Bad Credit
  • Learn More About Mortgages
Tools & Calculators
  • Mortgage Calculator
Compare Rates
  • Today's Mortgage Rates
  • Refinance Rates
  • 15-Year Mortgage Rates
  • 20-Year Mortgage Rates
  • 30-Year Mortgage Rates
  • Jumbo Mortgage Rates
  • VA Loan Rates
  • 5/1 ARM Rates
  • 7/1 ARM Rates
  • FHA Mortgage Rates

Knowledge

Knowledge Section
  • All Articles
  • Credit Card Articles
  • Banking Articles
  • Brokerage Articles
  • Personal Loan Articles
  • Mortgage Articles
  • Personal Finance Articles
Recent Articles
  • 3 Ways to Get the Best Possible Mortgage Rate

    Mortgages

    3 Ways to Get the Best Possible Mortgage Rate
  • Forget Holiday Debt -- This Should Be Your Top Financial Priority Right Now

    Personal Finance

    Forget Holiday Debt -- This Should Be Your Top Financial Priority Right Now
  • Mortgage Application Rejected in 2020? How to Get Approved in 2021

    Mortgages

    Mortgage Application Rejected in 2020? How to Get Approved in 2021
  • 10 Key Features to Look for in a Bank

    Banks

    10 Key Features to Look for in a Bank
  • The Ascent
  • Knowledge
  • Credit Cards

Luxury Card Black Card vs. Amex Platinum Benefits: Closer but Not Quite

by Matt Frankel, CFP | Nov. 20, 2018

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

The "new" Black Card from Luxury Card is certainly better than its predecessor, but there are still better values out there.

About two years ago, I did a comparison of the costs and benefits of the Visa® Black Card and the American Express Platinum. And the result wasn't even close -- the Amex Platinum was better in virtually every way. Many reviews around the same time even referred to the Visa® Black Card as the worst credit card product on the market. Since then, the Visa® Black Card has been rebranded as the "Luxury Card," so let's see if the card is now a worthy competitor for the Amex Platinum.

The American Express Platinum: High-end benefits at a reasonable cost

At first glance, the American Express Platinum card's $550 annual fee may sound expensive, and it is in the sense that there are plenty of reward credit cards you could get for less. However, consider the array of benefits that come with it.

Laughing man and woman shopping online with credit card

Image source: Getty Images

Travelers will enjoy a $200 annual airline fee credit that is automatically applied to incidental expenses such as baggage fees or in-flight food and drink. Plus, there is a $100 credit for Global Entry or TSA Pre-Check every four years. In addition, the card gives access to Delta Sky Club airport lounges, as well as lounges in the Priority Pass network, and the ultra-luxurious Centurion lounges.

Through its Fine Hotels and Resorts program, cardholders can get benefits such as room upgrades and late checkout, and also have access to American Express' Platinum Travel Service, whose representatives can provide custom travel itineraries and recommendations. Cardholders also get elite status at several major hotel and car rental chains, such as Starwood's SPG Gold status and Hilton Honors Gold.

As far as rewards go, purchases earn Amex Membership Reward points at a one-point-per-dollar rate for most purchases and a generous five-point-per-dollar rate on air travel booked directly. As an introductory offer, American Express is advertising a 60,000-point bonus after spending $5,000 over the first three months, which basically covers your annual fee for the first year.

Luxury Card's MasterCard® Black Card: Better than before

As I mentioned, the Visa® Black Card issued by Barclays has since been rebranded as the Luxury Card, which is available in three tiers of MasterCard products -- Titanium, Black, and Gold. The MasterCard® Black Card is the old Visa product's direct replacement, as the annual fee is at $495, same as the old product.

My biggest complaint about the old Visa® Black Card is that for virtually every one of its benefits, the Amex Platinum offered a better version. And this is still true, in many cases. For example, the MasterCard® Black Card comes with a Priority Pass airline lounge membership, while the Amex Platinum includes this and access to Delta Sky Clubs and Centurion Lounges. And the $100 annual airline fee credit offered by the card is one-upped by the Amex Platinum's $200 annual credit amount. Both cards reimburse members for TSA Pre-Check or Global Entry. To be fair, these benefits are an improvement over the Visa® Black Card.

The rewards program is also improved, and is superior to the Amex card's program in terms of redemption value. Just like with the Visa® Black Card, the new MasterCard version has the double point-redemption rate for airfare. Additionally, there is a new 1.5-to-one redemption rate for cash back rewards. The Amex Platinum has neither of these benefits.

One final big drawback to the MasterCard® Black Card is the lack of any introductory offer advertised on its website -- no point bonus, introductory APR, fee waiver, or anything is mentioned as of this writing. This is rare among lower-end credit cards, let alone those that cost nearly $500 per year.

Value wins

The MasterCard® Black Card is certainly an improvement over its predecessor but not by much, especially in the current ultra-competitive high-end credit card market. Simply put, the Amex Platinum offers a much more compelling value for a slightly lower cost, while this is just not the case for the MasterCard® Black Card.

Our credit card expert uses the card we reveal below, and it could earn you $1,148 (seriously)

As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases into 2022, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

About the Author

Matt Frankel, CFP
Matt Frankel, CFP icon-button-linkedin-2x icon-button-twitter-2x

Matt is a Certified Financial Planner® and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice, and in 2017 he received the SABEW Best in Business Award.

Share This Page
Blue Facebook Icon Share this website with Facebook
Blue Twitter Icon Share this website with Twitter
Blue LinkedIn Icon Share this website with LinkedIn
Blue Mail Icon Share this website by email

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

Related Articles

Credit cards on a desk image for Best Credit Cards for 2021

Best Credit Cards for 2021

Interest spelled out on a calculator image for Compare Credit Cards Side by Side

Compare Credit Cards Side by Side

Man holding cash image for How Do Cash Back Credit Cards Work?

How Do Cash Back Credit Cards Work?

Cyber security and computer screen image for How to Protect Yourself from Credit Card Fraud

How to Protect Yourself from Credit Card Fraud

Featured Articles

Best Credit Cards for 2021

Compare Credit Cards Side by Side

How Do Cash Back Credit Cards Work?

How to Protect Yourself from Credit Card Fraud


We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The Ascent Logo

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.

btn_facebook-yellow btn_twitter-yellow btn_instagram-yellow

Copyright © 2018 - 2021 The Ascent. All rights reserved.

About The Ascent
About Us Contact Us Newsroom How We Make Money Editorial Integrity Ratings Methodology
Legal
Terms of Use Privacy Policy Accessibility Policy Terms and Conditions Copyright, Trademark and Patent Information
Learn
Credit Cards Banking Brokerage Loans Recent Articles

By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.

Back to The Motley Fool