It is final. In this economic downturn, Visa seeks desperation and joins Barclay’s Bank of Delaware to officially steal American Express’s thunder. The brand which many individuals familiar with pop culture and exquisite tastes have learned to admire– “The Black Card,” has been stolen by Visa. It is obvious that Visa wanted its share of the high roller spending tab, but this is more shameful than brilliant.
“The whole purpose of this card is to take share from American Express,” said James McCarthy, Visa senior vice president for consumer-credit products.
I’m not sure what this exactly means for the luxury credit card market, but it can’t be good. Visa and Barclays have also managed to snag the domain www.blackcard.com, which I am sure will prove to be very lucrative for them. The original carbon design for the card was created by buy.com founder Scott Blum’s holding company, ThinkTank.
The Visa Black Card has managed to secure the Trademark for “Black Card,” and are already using the phrase: “World’s Most Prestigious Card” in their marketing efforts. This has to be one of the biggest heists in credit card history for Visa has managed to steal the brand and reputation that AMEX has built up. When me and my buddy go around and use the AMEX Centurion card – we never hear the response “Oh is that an American Express Centurion card?” Rather, we get the “OMG, what is this? The black card?” I wonder what kind of confusion and deterioration this may cause to the brand that American Express has built up. We will soon see. AMEX has yet to release a reaction to the new Visa Black.
|
|
Visa Black Card |
American Express |
|
Annual Fee |
$495 |
($5000 Initial) + $2500 |
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Material |
Carbon Graphite |
Titanium |
|
Standard APR |
0% for 6 months, 13.99% |
12.99% |
|
Concierge |
24 Hrs |
24 Hrs |
{ 5 comments… read them below or add one }
The odd thing about BofA is they also have a partnership with AMEX. They are offering branded BofA Amex credit cards too.
But, if you really want a Amex Black card do what I did. I took my regular optima “Green” Amex card and painted it black.
This is a smart move for VISA. They get to enter a market that has value and consumers that want to differentiate themselves with perks like a “Black Card”. Poor in my opinion that VISA went out and called it the “Black Card”. They could have been more original in coming up with a better name. Obviously they want to steal market share when they make it cheaper to own the card vs. AMEX card and steal the “brand name”.
On the other hand, it hurts the game of being a baller with the card. With more now in circulation, and VISA willing to give it away to get the ball rolling, you’re going to see more “Black Cards” at the table when you go out to fine dine. People will now confuse black cards with ordinary black colored cars.
ALL in ALL, it’s going to come down to the new status symbol…MEMBER SINCE…anything ‘08 and after is going to be NEW money, anything before ‘08 OLD money! haha
Do they have an affiliate program for the black card? I bet you could make quite a bit off signups.
This is a cheap knock-off. Visa, you should be ashamed of yourself.
I got an app for that lame Visa card. I cannot understand why you are going to pay an annual fee to have a card that isnt doing much for you. I spend almost all my expenses on cards only for the rewards and balance…and now Visa offers me this? the privilege to pay to use a card…yea…last time I looked in the mirror, it did not say “sucker consumer” on my head.