A new "above Platinum" MasterCard that gives holders access to VIP airport lounges around the world, special travel and entertainment services and a minimum credit limit of $20,000, has been introduced in Bermuda by Butterfield Bank.

The new MasterCard Black is being made by invitation only to selected customers who already have the bank's Butterfield/AAdvantage Platinum MasterCard.

It will give holders access to global services and exclusive travel and insurance benefits.

Alan Thompson, Butterfield Bank president and chief executive officer, said: "Customers will not only benefit from MasterCard's world-wide acceptance, they will also enjoy access to a unique and truly special suite of travel and entertainment services. We know of no other card available in Bermuda that provides these kinds of rewards and features."

The Bank believes the new card will be suited to "well-travelled corporate leaders, entrepreneurs and socialites" and will earn 1.25 American Airlines AAdvantage miles for every dollar spent using the card.

MasterCard Black cardholders will have access to a Personal Assistance Service that goes beyond the services of a normal travel agency or concierge service, helping them make special arrangements for their overseas business needs including: protocol, translation and interpretation services; referrals for office and equipment set-up and referrals for temporary help services as well as entertainment reservations and shopping-hints for hard-to-find items.

Holders can access more than 430 VIP Priority Pass airport lounges in 75 countries and gives travel insurance, including personal accident coverage of up to $1 million as well as 24-hour worldwide emergency assistance services that includes; emergency medical and legal referrals, emergency cash, lost document and ticket replacement assistance as well as the transmission of urgent messages.

Associated coverage includes MasterAssist Black giving cardholders additional medical insurance coverage of up to $25,000. MasterRental will protect MasterCard Black cardholders from theft of or damage to rental vehicles, while MasterDelivery is available to help cardholders ship gifts, documents or valuables.

MasterCard Worldwide vice president and Caribbean general manager Francisco Alves, said: "The objective of MasterCard Black is to become the preferred payment method for high-net-worth individuals who enjoy frequent travel and who will appreciate participating in an exclusive rewards and benefit programme. We are very pleased to be making these services available to affluent people in Bermuda in co-operation with Butterfield Bank."