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nishant1
Posts: 107
Registered: ‎12-23-2012
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Visa Black Card Preapproval received in mail- Holding off application now

I received visa black card preapproval this week in mail.

 

Not planning to pursue right now and holding off for some time.

 

Rewards are very good but so is annual fee. Even second card for my wife is going to be expensive.

 

Not sure why they make such tempting offers.

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now


nishant1 wrote:

I received visa black card preapproval this week in mail.

 

Not planning to pursue right now and holding off for some time.

 

Rewards are very good but so is annual fee. Even second card for my wife is going to be expensive.

 

Not sure why they make such tempting offers.


This card is widely regarded as a total waste of money, substandard rewards with a very high AF.  What is attractive to you?

Frequent Contributor
newportguy
Posts: 351
Registered: ‎11-11-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now

From what i have read the Visa Black Card is one to stay away from.... Just my 2 cents


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
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newportguy
Posts: 351
Registered: ‎11-11-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now


bs6054 wrote:

nishant1 wrote:

I received visa black card preapproval this week in mail.

 

Not planning to pursue right now and holding off for some time.

 

Rewards are very good but so is annual fee. Even second card for my wife is going to be expensive.

 

Not sure why they make such tempting offers.


This card is widely regarded as a total waste of money, substandard rewards with a very high AF.  What is attractive to you?


+ 1   ........ Very well Said


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Valued Contributor
nicholasyud
Posts: 1,737
Registered: ‎08-13-2012
0

Re: Visa Black Card Preapproval received in mail- Holding off application now

They been very happy in my shredder for a few time......


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

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HiLine
Posts: 3,176
Registered: ‎10-19-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now


bs6054 wrote:

nishant1 wrote:

I received visa black card preapproval this week in mail.

 

Not planning to pursue right now and holding off for some time.

 

Rewards are very good but so is annual fee. Even second card for my wife is going to be expensive.

 

Not sure why they make such tempting offers.


This card is widely regarded as a total waste of money, substandard rewards with a very high AF.  What is attractive to you?


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New Contributor
nishant1
Posts: 107
Registered: ‎12-23-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now

I know the annual fee is high. The attraction is  that for air travel using Black card to get $500 ticket, only half the points points are needed.

 

My current best credit card -Chase Sapphire- although not a correct comparison due to annual fee difference, it gives me only 20% advantage on air tickets.

 

However, I  am not in hurry so I donot find cost to benefit acceptable, I will not jump to it.

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HiLine
Posts: 3,176
Registered: ‎10-19-2012
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Re: Visa Black Card Preapproval received in mail- Holding off application now


nishant1 wrote:

I know the annual fee is high. The attraction is  that for air travel using Black card to get $500 ticket, only half the points points are needed.

 

My current best credit card -Chase Sapphire- although not a correct comparison due to annual fee difference, it gives me only 20% advantage on air tickets.

 

However, I  am not in hurry so I donot find cost to benefit acceptable, I will not jump to it.


With the CSP, you should transfer your points to a frequent flier program and use the miles to book your flight.

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
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Re: Visa Black Card Preapproval received in mail- Holding off application now

Basically, the 1/2 points gimmick is just a way if saying it is a 2 percent cash back card when you redeem for air travel. Venture does the same. Priceline Visa does the same.

Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Visa Black Card Preapproval received in mail- Holding off application now

Did you get a special offer?  From the standard Black Card site:

 

For example, 15,000 points can be redeemed for a 1% statement credit toward a purchase of $150 or more; and when redeeming points for airline ticket purchases through our Exclusive Rewards Program, your points will double in value and 15,000 points can be used to purchase an airline ticket for $300.

 


i.e. 2% cashback equivalent on airline tickets.  Well, cards like Fidelity Amex and Priceline Visa with no annual fee give the same 2% on everything, and many airline cards can give more than this when getting miles.

 

Of course, if your offer if different, things might change, but this is often considered the up-market version of First Premier!


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