The large majority of Americans own a credit card. Many own more than one. The paperwork credit card companies send to owners is long and complex. It is hard to imagine all but a small number of card owners can understand this fine print. Several organizations have selected the worst credit cards. Flaws run for high interest rates, to high annual fees to poor rewards programs.

Time and Nextadvisor compiled a list of the worst credit cards. Wallet Hub did the same. Cards were slotted into categories. These include the worst credit card to “build credit.” Presumably, this is for people with extremely poor credit scores. Another category is cards that make transfers to other cards expensive or difficult. One analysis is the worst card for small businesses. Another is the worst store cards.

At the top of this list is a card for the wealthy. It is called the Mastercard Black Card. It carries an extremely expensive annual fee of $495, and is marketed as a card very few people qualify for. The “perks” include a very modest system to get airline points based purchases. Other features primarily benefit people who travel a good deal by air.

The Mastercard Black Card comes with a number of bells and whistles which have very little value. It is made of a black PVD coated metal, as if anyone would care. It comes in an extremely fancy box. Mastercard even has a video which shows the “unboxing” of the card, which is another feature without benefit. Another video shows why it should be considered a “luxury card.”

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Mastercard has created the card to compete with the American Express Platinum Card. However, American Express has a Black Card as well. Based on a description of who can get one, the barriers seem much higher than the Mastercard version.

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