Features: APR: introductory offer of 0% for the first 6 months, then 13.24% Annual Fee: yes, $495 1% cash back, or the equivalent in points Points redeemable for car rentals, lodging at selected hotels or gift cards Periodic luxury gifts from manufacturers Access to exclusive airport lounges twice a year 24-hour concierge service No spending minimum Offer limited to 1% of population Issuer: Barclays Bank Delaware

The Visa Black credit card is intended to be prestigious, and only offered to 1% of the American population. That and the fact that this card is made of some carbon based material, and not plastic, gives this card the biggest hype. Yes, it does have some nice benefits that exude luxury, like the 24-hour concierge service, luxury gifts, and access to restricted airport lounges, but you pay for this with the extremely high annual fee of $495. It also comes with a rewards program that offers 1% cash back, or 1 point per dollar spent which can be used for rewards such as car rentals or fancy lodgings at The Ritz-Carlton, Hyatt and Marriott, or simply used in exchange for gift cards of your choosing. The current APR for this card is 13.24%, and they also offer 0% APR for 6 Months on Balance Transfers and there is no spending minimum.

We aren’t really impressed with this card; in fact it might be just a rip-off of the American express platinum credit card. These rewards just aren’t the most practical or the most efficient return for your money. If you like all the glam and hype of the rewards, then this would appeal to you, but the target consumer for this card would be able to afford these services anyways. Besides, you could get a credit card that gives you 5% cash back, and use that money to get more than they’re offering. And let’s face it; if you’re in the top 1% of the population, you could probably get a better APR, perhaps even 9.99%. We just don’t think this card is worth it, the wrapping makes it look nicer than it really is. Credit card companies like to dazzle and distract you with all the rewards to get your attention away from the heart of the issue, the APR and the annual fee.