13 Best Black Credit Cards in Canada and Alternatives in 2024

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

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.

HSBC World Elite Mastercard

The HSBC World Elite Mastercard has no FX fees, and you can earn 3% rewards on eligible travel purchases. You also get a $100 annual credit for airline seat upgrades and other travel-related expenses, and it comes with extensive travel insurance coverage.

This card has an annual fee of $149, but there is no fee for supplementary cards, making it one of the more affordable credit cards on the list.

However, you will need a minimum income of $80,000 or a minimum household income of $150,000 to apply. You can apply online via the website using one piece of ID, like a passport.

Scotiabank Passport Visa Infinite

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

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

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

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

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

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

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

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

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