Black credit cards are the most exclusive credit cards available. They are often by invitation only and targeted at high-net-worth individuals.
Could a black credit card be an option for you? What must you do to qualify, and what benefits will you get?
In this guide, I answer these questions and look at 13 of Canada’s best black credit cards and alternatives.
What is a Black Credit Card?
Black credit cards are deluxe cards targeted at the elite. They are hard to get, and sometimes you have to be invited. You will also need a high income or net worth to apply for one.
They are expensive, with very high annual fees and even initiation fees in some cases. But they come with some of the best perks and rewards around. In short, a black credit card is something of a status symbol.
Black Credit Card Requirements
Getting a Black Credit Card is not easy. While requirements are different for each card, they are very strict, and requirements generally include the following:
- High Earnings – For example, the American Express Centurion Card is the most prestigious credit card in Canada, and you must earn $1 million or more annually, or have a high net worth to get this card.
- High Spending – To get the American Express Centurion Card, you will need to spend $100,000 a year or more on an existing American Express card.
- Ability to Pay the Fee – An annual fee in the thousands is not unheard of, and you may have to pay an initiation fee in the thousands, too.
How Do You Get a Black Credit Card?
Getting a black credit card is not easy. Some are on an invitation-only basis, but you may be able to put your name down to be considered. Otherwise, you’ll just have to wait for your invite to arrive.
You must usually be a Canadian resident, have a good credit score, and have a high income.
Black credit card limits are very high, and there may be no limit. They may be charge cards, which you must pay in full monthly to avoid paying interest.
You may also need to be a bank customer to get a black card.
Black Credit Card Features
The features on your black credit card will depend on the card, but there are a few things you can expect:
- Concierge service 24/7
- Instant premier status at hotels and rental car agencies
- Special offers on hotels, dining, and stores
- Airport lounge access
- Hotel and flight upgrades
- Luxury experiences like vacations
- Rewards programs
- Zero FX fees
- Free WiFi access
- Comprehensive travel insurance coverage
What is the Most Prestigious Credit Card in Canada?
The American Express Centurion Black Card is the most prestigious credit card available in Canada. This comes with an extensive selection of perks, including:
- Personal concierge services to help you book restaurants or arrange travel.
- Automatic flight upgrades on several major airlines, plus priority check-in, free seat selection, and more.
- Get Elite Status at many hotels and car rental companies.
- The Global Lounge Collection with access to over 1,300 VIP airport lounges and several exclusive Centurion Lounges.
- Access to exclusive invitation-only events every year.
- Membership rewards, where you can earn points that you can use on flights, gift cards, and stores.
Mastercard Black Card
The Mastercard Black Card is another popular black credit card. This luxury metal card is easier to apply for than the Centurion. It has an annual fee of $495 but no initiation fee, and you can earn points that you can redeem for flights, hotels, and more.
There are no FX fees, and it comes with a concierge service and access to over 1,300 airport lounges.
However, you can only apply for this card in Canada if you are a US resident and have a US Social Security Number.
HSBC Black Credit Card
This card is for United Arab Emirates residents. As a Canadian citizen, you must reside in the UAE to apply. The annual fee is AED 1,575, but there is no initiation fee.
With this card, you can earn Air Miles, and it comes with an international concierge service, two free rounds of golf every month, dining privileges, and access to over 850 airport lounges.
Best Black Credit Card Alternatives in Canada
Whether you don’t qualify for a black credit card or just don’t want one, I’ve picked out some of Canada’s best alternative credit cards.
Here’s a rundown of what you get with each:
American Express Platinum Card
American Express Platinum Card
Top credit card for VIP perks
Annual fee: $799 (and $250 annual fee for additional cards)
Rewards: Earn 2x Membership Rewards Points on dining and food delivery, 2x pts. on travel and 1x pts. on everything else.
Interest rates: Variable (charge card)
Minimum income requirement: N/A
Recommended credit score:
Very Good
On Amex’s website
With an annual fee of $799 and an extra $250 fee for each additional card, this is not the cheapest credit card to own. However, the only specific requirements are that you’re a Canadian resident and the age of majority.
You can earn up to 2x Amex points on dining and food delivery and redeem points for discounts on almost everything.
There are many travel rewards, including access to over 1,300 airport lounges and a personalized concierge service, making it a good option if you travel often.
Read our American Express Platinum Card review.
Scotiabank Passport Visa Infinite
Scotiabank Passport Visa Infinite Card
Best for no FX fees and travel perks
Annual fee: $150
Rewards: Earn 3x Scene+ points on eligible grocery purchases, 2x pts. on dining, entertainment and transit, and 1x pts. on everything else.
Welcome offer: Up to 40,000 bonus Scene+ points and no annual fee for the first year.
Interest rates: 20.99% for purchases, 22.99% for cash advances.
Minimum income requirement: $60,000
Recommended credit score:
Very Good
On Scotiabank’s website
The $150 annual fee of the Scotiabank Passport Visa Infinite makes it more affordable than some of the cards on the list. But you will need a minimum income of $60,000 or a minimum household income of $100,000 to apply.
You can enjoy no FX fees, and you will earn 3x Scene+ points on groceries and 2x points on dining, entertainment, and transit purchases.
You also get complimentary access to six airport lounges each year, car rental savings, a concierge service, and several other perks.
American Express Aeroplan Reserve Card
American Express Aeroplan Reserve Card
Premium travel credit card
Annual fee: $599
Rewards: Earn 3 points per $1 spent on Air Canada purchases. Earn 2 points per $1 spent on dining. Earn 1.25 points per $1 spent on everything else.
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Minimum income requirement: No minimum income requirements.
Recommended credit score:
Good
On Amex’s website
This is another card focused on travel. You can earn 3x Aeroplan points on Air Canada purchases, 2x points on dining and delivery, and 1.25x points on everything else.
It comes with many Air Canada benefits like Priority Airport Check-In and Priority Boarding, as well as access to selected Air Canada Maple Leaf Lounges. You can also use points for hotels and car rentals.
This card has a $599 annual fee, and additional cards have a $199 annual fee, making it one of the more expensive options.
However, you can apply online with ease if you are a Canadian resident and the age of majority in your province or territory.
BMO eclipse Visa Infinite Privilege
BMO Eclipse Visa Infinite Privilege
Excellent travel rewards card
Annual fee: $499
Rewards: Earn 5x rewards points for every $1 you spend on dining, groceries, gas, travel, and drugstore purchases. Earn 25% more points on all purchases when you add an additional card user. Receive a $200 annual lifestyle credit.
Interest rates: 20.99% for purchases and 23.99% for cash advances (21.99% for Quebec residents).
Minimum income requirement: $150,000 minimum income and $200,000 household income.
Recommended credit score:
Good
On BMO’s website
You will need a minimum income of $150,000 or a minimum household income of $200,000 to apply for this card. It also has an annual fee of $499, making it one of the most expensive cards on the list.
But you can earn 5x points on groceries, dining, travel, drugstore purchases, and gas, and 1 point for every $1 spent on everything else.
You can then use your points for discounts, put them towards travel costs like flights and hotels, or use them on merchandise.
You also get a $200 annual lifestyle credit to use on anything, free access to six airport lounges each year with Visa Airport Companion, Priority Security Lane and airport parking at selected Canadian airports.
TD First Class Travel Visa Infinite Card
TD First Class Travel Visa Infinite Card
Good travel credit card
Annual fee: $139
Rewards: Earn TD Rewards Points for discounts on travel-related purchases.
Interest rates: 20.99% for purchases and 22.99% for cash advances
Minimum income requirement: $60,000 personal income or $100,000 household income.
Recommended credit score:
Good
On TD’s website
The $139 annual fee makes this card more affordable than most on this list, but the first additional card is $50. You will also need a yearly income of $60,000 or a household income of $100,000 to apply.
You can use the card to earn TD Reward Points on all your purchases, which you can then redeem for travel experiences. Can also redeem points at Amazon.ca. You will earn 8 TD Rewards Points when you book using Expedia and earn 6 points on grocery and restaurant purchases.
The card also includes travel insurance coverage, and you will not face seat restrictions or travel blackouts when you use your points.
Check out our TD First Class Travel Visa Infinite Card guide.
American Express Gold Rewards Card
American Express Gold Rewards Card
Excellent for travel rewards
Annual fee: $250
Rewards: Earn 2 points for every $1 spent on gas + grocery + drug + travel purchases. Earn 1 point for every $1 spent on all other purchases.
Penalty rates: 20.99% for purchases; 21.99% for cash advances.
Minimum income requirement: No income requirements.
Recommended credit score:
Good
On Amex’s website
The annual fee for this card is $250, and you can get one additional card free, while additional cards are $50 each.
You can use the card to earn AmEx points, and you will earn 2x points on travel, gas, groceries, and drugstores and 1x points on everything else. You can then use the points you earn to pay for almost anything.
The card also comes with various travel perks like access to airport lounges and car rental privileges.
Related: American Express Gold Rewards Card detailed review.
Scotiabank Platinum American Express
Scotiabank Platinum American Express Card
Top premium credit card for airline lounge access
Annual fee: $399
Rewards: Earn 2X Scene+ points on all eligible purchases and 3X points on travel purchased via Scene+ Travel.
Welcome offer: Earn up to 80,000 bonus Scene+ points.
Interest rates: 9.99% on both purchases and cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Very Good
On Scotiabank’s website
You can earn Scene+ points using this card, earning 2x points for every $1 you spend on eligible purchases. There are also no FX fees, so you save 2.5% when you make transactions in foreign currency.
You will also enjoy free access to 10 airport lounges each year, premium concierge services, mobile device insurance, travel insurance coverage, and more.
The card costs $399 a year and $99 for supplementary cards. But there is a low personal income requirement of just $12,000, and it also has a low interest rate of 9.99% on purchases and cash advances.
National Bank World Elite Mastercard
National Bank World Elite Mastercard
Good travel credit card
Annual fee: $150
Rewards: Earn 5 points per $1 spent on groceries and restaurants. Earn 2 points per $1 spent on travel, gas, and bill payments. Earn 1 point per $1 spent on all other purchases.
Welcome offer: 60,000 reward points and a first year annual fee waiver.
Interest rates: 20.99% on purchases and 22.49% on cash advances
Minimum income requirement: $80,000 personal or $150,000 household.
Recommended credit score:
Very Good
On National Bank’s website
You can earn up to 5 reward points for every dollar spent using this card on groceries and dining; 2 points on gas, electric vehicle charging, and recurring bills; and 1 point on everything else.
You can redeem your points for travel discounts, gift cards, pay off your balance, and more.
Other perks include unlimited access to the National Bank Lounge at Montréal-Trudeau Airport, up to a $150 refund on travel expenses yearly, travel insurance coverage, and an extended purchase warranty.
There is a $150 annual fee, and you will need a minimum income of $80,000 or a minimum household income of $150,000 to apply.
Learn more about the National Bank World Elite Mastercard.
BMO Ascend World Elite Mastercard
BMO Ascend World Elite Mastercard
Good BMO travel credit card
Annual fee: $150
Rewards: Earn BMO Rewards points on every purchase you make with the card.
Interest rates: 20.99% for purchases and 23.99% for advances for non-Quebec residents, and 21.99% for Quebec residents.
Minimum income requirement: $80,000 for the primary cardholders or $150,000 for a household.
Recommended credit score:
Good
On BMO’s website
There is a minimum income requirement of $80,000 or a minimum family income of $150,000 to apply for this card. But the annual fee is only $150, which is waived for the first year.
You can earn rewards every time you use the card, earning 5x points for every $1 spent on travel, 3x points for entertainment, dining, and recurring bill payments, and 1x for everything else.
You can use points for travel purchases and discounts or contribute them to your savings account.
Read more about BMO Ascend World Elite Mastercard here.
CIBC Aventura Visa Infinite Privilege
This card has an annual fee of $499, and you can get up to nine additional cards for a fee of $99 each. However, the primary cardholder can get a fee rebate of up to $139 each year if they have a CIBC Smart™ Plus Account.
You can earn 3 Aventura points for every $1 you spend on travel at the CIBC Rewards Centre; 2 points on dining, entertainment, gas, transport, groceries, and electric vehicle charging; and 1.25 points on everything else.
You can then use points to pay off your balance or put them towards flights and other rewards. You’ll also enjoy several travel perks, like free access to six airport lounges every year.
To apply, you need a minimum income of $150,000 or a minimum household income of $200,000.
RBC Avion Visa Infinite Privilege
You can earn 1.25 Avion points on every $1 spent using this card, which you can then use to book flights on any airline and on hotels and vacation packages.
You’ll get exclusive experiences in the Avion Collection, access to airport lounges, and additional perks like travel insurance coverage.
The card has an annual fee of $399; additional cards are $99. There is also a high minimum personal or family income requirement of $200,000.
FAQs
There is no specific qualification for a black card, and you may need to be invited. However, you should have a high income and annual spending to qualify.
Money limits on a black card differ depending on the card, but generally, they are very high. Some cards have no spending limits.
Black cards are not targeted at standard consumers, and they are primarily targeted at high-net-worth individuals.
There’s a good chance that if you have a black card, you earn a large income or have a high net worth.
Getting a black card can be difficult. Often, you have to be invited to get your card.
There are several candidates, but the American Express Centurion Card is arguably the most prestigious credit card.
Because it is very difficult to get one, making it an exclusive card that is more of a status symbol.
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