topic Re: Visa Black Card vs. AMEX BCE PREF. in Credit Cards

Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 03:37:41 GMT

I was wondering if anyone has a Visa Black Card and how the rewards points works. I know the annual fee is $495 but if that were the only card I used to pay bills (then of course pay them off every month in full) would I make enough to re pay the annual fee as well as enjoy some of the other perks?? Or would an AMEX BCE PREF be a better option because of the generous cash back. Thanks!

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 03:39:39 GMT

@Anonymous wrote:
I was wondering if anyone has a Visa Black Card and how the rewards points works. I know the annual fee is $495 but if that were the only card I used to pay bills (then of course pay them off every month in full) would I make enough to re pay the annual fee as well as enjoy some of the other perks?? Or would an AMEX BCE PREF be a better option because of the generous cash back. Thanks!

BCE/BCP by far.

Re: Visa Black Card vs. AMEX BCE PREF.

red259 — Thu, 18 Dec 2014 03:41:55 GMT

@Anonymous wrote:
I was wondering if anyone has a Visa Black Card and how the rewards points works. I know the annual fee is $495 but if that were the only card I used to pay bills (then of course pay them off every month in full) would I make enough to re pay the annual fee as well as enjoy some of the other perks?? Or would an AMEX BCE PREF be a better option because of the generous cash back. Thanks!

Don't have the visa black card, but I can tell you I would go with BCE pref. I don't think much of the black card to be honest. Its a lot of hype and is more of a sucker bet in my mind. If you wanted all the perks I feel there are other high AF cards that will give you similiar if not better benefits.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 03:42:11 GMT

I was kinda leaning that way but didnt know much about what the Visa BLACK had to offer (probably because i dont know a single person who has one). I see you have the AMEX BCE..can I ask what was your initial credit limit? And do the rewards add up if the card is used frequently?

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 03:42:28 GMT

@Anonymous wrote:
@Anonymous wrote:
I was wondering if anyone has a Visa Black Card and how the rewards points works. I know the annual fee is $495 but if that were the only card I used to pay bills (then of course pay them off every month in full) would I make enough to re pay the annual fee as well as enjoy some of the other perks?? Or would an AMEX BCE PREF be a better option because of the generous cash back. Thanks!
BCE/BCP by far.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 03:44:28 GMT

@red259 wrote:
@Anonymous wrote:
I was wondering if anyone has a Visa Black Card and how the rewards points works. I know the annual fee is $495 but if that were the only card I used to pay bills (then of course pay them off every month in full) would I make enough to re pay the annual fee as well as enjoy some of the other perks?? Or would an AMEX BCE PREF be a better option because of the generous cash back. Thanks!
Don't have the visa black card, but I can tell you I would go with BCE pref. I don't think much of the black card to be honest. Its a lot of hype and is more of a sucker bet in my mind. If you wanted all the perks I feel there are other high AF cards that will give you similiar if not better benefits.

Like a Ritz-Carlton?

Re: Visa Black Card vs. AMEX BCE PREF.

Jaylima91 — Thu, 18 Dec 2014 04:03:43 GMT

Amex Platinum, Ritz, DC Elite and Citi Prestige are pretty good alternatives to the Visa Black Card. Inquire into those.

Re: Visa Black Card vs. AMEX BCE PREF.

mongstradamus — Thu, 18 Dec 2014 04:14:15 GMT

@Jaylima91 wrote:
Amex Platinum, Ritz, DC Elite and Citi Prestige are pretty good alternatives to the Visa Black Card. Inquire into those.

I like dc elite and Prestige for bonus spending categories if i had an choice, :-) With that being said i would have to see an really really heft signup bonus for me to even think about it.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 04:42:12 GMT

Thank You all for the input. Im hoping for a good inital credit limit to somewhat offset the HI..best initial credit limit I got was 8.5 k three years ago. Since then my AVG. household income has gone up 100% or more and Ive bought a house and maintained good credit. I dred getting the AMEX and getting stuck with a 4k credit limit. Seems like that happens alot to ppl.

Re: Visa Black Card vs. AMEX BCE PREF.

mongstradamus — Thu, 18 Dec 2014 04:46:52 GMT

@Anonymous wrote:
Thank You all for the input. Im hoping for a good inital credit limit to somewhat offset the HI..best initial credit limit I got was 8.5 k three years ago. Since then my AVG. household income has gone up 100% or more and Ive bought a house and maintained good credit. I dred getting the AMEX and getting stuck with a 4k credit limit. Seems like that happens alot to ppl.

My opinion with amex is AAOA matters an lot to them with initial CL, i did get an fair CL when i got my edp in october which i just did 61 day cli with so i can't complain too much.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 04:51:14 GMT

Thats what im likely to do. From everything ive read on here today everyone seems to suggest the AMEX. I know they have the intial 0% APR going on now so id like to get approved for at LEAST 6K, buy a beater truck with the card, get the points, and pay it off well before the promo period ends. Ive noticed the cash back on the AMEX BCE PREF are generous.

Re: Visa Black Card vs. AMEX BCE PREF.

takeshi74 — Thu, 18 Dec 2014 13:44:35 GMT

@Anonymous wrote:
I was wondering if anyone has a Visa Black Card

A few do but even so it's a common topic here so you can also reference prior threads.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=visa%20black%20site%3Aficoforums.myfico.com

tl;dr ; It's generally considered to be for those who don't qualify for a Centurion but are looking to flash a black card in an attempt to impress others.

With any card comparison you really just need to run the numbers. How did you arrive at the Visa Black and the BCP (there is no BCE Preferred)? They're two very different cards. Make sure you're starting with your needs/wants and then working to find cards that fit those needs/wants. The bonus spend categories on the BCP are specific and there are other cards usually compared to it such as the Sallie Mae, BCE, the old Blue Cash and even the Everyday cards.

Figure out what your major spend categories are, how much you're putting through them and then find cards that maximize rewards for you. Arbitrarily selecting cards and then looking for justification is going about it backwards.

@Anonymous wrote:
And do the rewards add up if the card is used frequently?

The rewards structure is spelled out on AmEx's site. You have to run the numbers. If rewards are X% then, yes, they add up as you use the card as you're getting X% for every transaction. However, you could be getting a much better X with a different card for categories that you spend a lot on (a high percentage on something you never spend on isn't going to be of much benefit) which is why you need to look at your specific spend.

@Anonymous wrote:
I dred getting the AMEX and getting stuck with a 4k credit limit. Seems like that happens alot to ppl.

Limits are based on credit and income. You're not stuck with that limit. Make sure you read the 3x CLI guide.

@Anonymous wrote:
buy a beater truck with the card

Better verify with the dealer that you can do so. Dealers generally are not amenable to allowing use of cards -- especially with AmEx -- because of the swipe fees. Some will limit what they are willing to charge. In some cases some have been able to charge the entire cost of a vehicle.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 13:31:19 GMT

Question is: why work so hard just to break even with any annual fee card unless there are other benefits such as travel, sharing points with travel partner cards and so on?

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 13:34:43 GMT

@ArmyVietVet wrote:
Question is: why work so hard just to break even with any annual fee card unless there are other benefits such as travel, sharing points with travel partner cards and so on?

+1 Breaking even shouldn't be the goal, compare what the same spend would get you on another card (that you can get).

And from that view, the BCE (rather than the BCP, there is no such card as BCE Preferred) gets less rewards than the Sallie Mae.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 13:44:52 GMT

@Anonymous wrote:
@ArmyVietVet wrote:
Question is: why work so hard just to break even with any annual fee card unless there are other benefits such as travel, sharing points with travel partner cards and so on?
+1 Breaking even shouldn't be the goal, compare what the same spend would get you on another card (that you can get).

And from that view, the BCE (rather than the BCP, there is no such card as BCE Preferred) gets less rewards than the Sallie Mae.

The OP was interested to know if enough could be earned on the Visa Black Card to offset the annual fee and still earn enough to enjoy the perks. Valid question and comparing the spend to another card was OP's question. As has been mentioned on several posts covering many cards the annual fee may not tell the whole story. If all the benefits (not only cash or points) are worth the annual fee it works. CSP transfer to partners is a big one partner plane tickets, lounge access no FTF and so on. Dependes on the person's usage certainly. Where so you come off dictating that breaking even shouldn't be the goal ... depends on the person's objectives.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 13:54:17 GMT

I wouldn't consider the black card unless the AF was waived for life and they had a special note to never AA my Barclays accounts for anything BUT serious delinquency with them.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 14:01:34 GMT

@ArmyVietVet wrote:
@Anonymous wrote:
@ArmyVietVet wrote:
Question is: why work so hard just to break even with any annual fee card unless there are other benefits such as travel, sharing points with travel partner cards and so on?
+1 Breaking even shouldn't be the goal, compare what the same spend would get you on another card (that you can get).

And from that view, the BCE (rather than the BCP, there is no such card as BCE Preferred) gets less rewards than the Sallie Mae.

The OP was interested to know if enough could be earned on the Visa Black Card to offset the annual fee and still earn enough to enjoy the perks. Valid question and comparing the spend to another card was OP's question. As has been mentioned on several posts covering many cards the annual fee may not tell the whole story. If all the benefits (not only cash or points) are worth the annual fee it works. CSP transfer to partners is a big one partner plane tickets, lounge access no FTF and so on. Dependes on the person's usage certainly. Where so you come off dictating that breaking even shouldn't be the goal ... depends on the person's objectives.

OK, let me rephrase: evaluating that a card is worthwhile BECAUSE the earned rewards break-even with the AF is not such a great measure. You should also consider the opportunity costs of what other card you could be using and compare the rewards. So my standard example, a card that gives 0.5% cash back with a $10 fee "pays for itself" after a relatively low $2K annual spend. It would still be a lousy choice because there are free cards that give 2%. Hence my strong belief that merely breaking even (including the value of all benefits)

should not be a goal for anyone

I wasn't railing against AF at all: consider the value of all the benefits, subtract the AF, BUT THEN, do the same calculation with other cards that you could get.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 14:14:06 GMT

I think the moral of the story is that Visa Black is an awful, terrible, no good, very bad card, which should be shied away from at all costs. Pretty much no matter what you want, there is a better card out there.

OP, let us know what you're looking for in a card. What kind of spend do you have? I'm assuming that your Sig is accurate, if not, let us know. We can then recommend cards for you.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 14:16:12 GMT

@Anonymous wrote:
I think the moral of the story is that Visa Black is an awful, terrible, no good, very bad card, which should be shied away from at all costs. Pretty much no matter what you want, there is a better card out there.

OP, let us know what you're looking for in a card. What kind of spend do you have? I'm assuming that your Sig is accurate, if not, let us know. We can then recommend cards for you.

I dunno...

FP and CreditOne are still worse, lol.

Re: Visa Black Card vs. AMEX BCE PREF.

Anonymous — Thu, 18 Dec 2014 14:33:17 GMT

Lot of good feedback and i thank everyone for that

My SIG is current..just checked my UTIL is at 10%..no bad marks, no late payments, AAoa is about 4.6 yrs.AVG HHI is slightly over 100k..I have had CC's for a while now and have never really taken advantage of the perks they offer and after reading on here I have realized I have been missing out. I am mostly interested in cash back rewards at the moment seeing as how I rarely travel. I just wanna make sure I get the best card I can and take advantage of the perks.