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Visa Black Swims Upstream Against Struggling Credit Card Market

As the World's economy was falling into a tailspin in the fall of 2008, a new credit card was being unveiled. The Visa Black Card.

Normally, that wouldn't be news. However, ever since the economic crisis began, credit card companies have been in a panic, doing everything from raising fees to paying customers to cancel their accounts. So why would a credit card company launch a new card in the midst of this storm.

Well, the simple answer is that The Visa Black Card is not just an ordinary credit card. Very few people are eligible. In fact, it's a rewards credit card that is only available to about 1% of Americans. Who are those 1 percent? They are the people who have great credit and plenty of money to spare. People who have a very, very tiny chance of defaulting.

What the Visa Black Card represents is a sea-change in the credit card industry. An attempt to pursue customers who deserve credit. Now isn't that a novel concept. While surely more than 1% of the population is deserving of credit, hopefully Visa Black is the sign of things to come: where the flow of money is tied to fundamentals.

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VISA Black Card: A Smart Strategy in Trying Times

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