Itaú The One Mastercard Black
Itaú's most exclusive card: metal build, boosted earning and unlimited VIP lounges for Personnalité and Private clients.
Overview
The Itaú The One Mastercard Black is the top card in Itaú Unibanco's portfolio, offered exclusively to Personnalité and Private Bank segment clients. Made of metal, it combines one of the highest points-earning rates in the Brazilian market with unlimited VIP lounge access and the full Mastercard Black benefit package. There are two configurations: the Personnalité version, earning 3 points per dollar on domestic purchases and 3.5 points per dollar internationally, and the Private version, earning 4 points per dollar on any spend — according to Alta Renda Blog and Melhores Cartões, this 4-point rate became permanent in 2026 for the Private line (to be confirmed on Itaú's official site). Points are credited to Itaú's points program (formerly Iupp, now 'Itaú Pontos e Cashback') and do not expire while the card is active. The R$ 4,000 annual fee is among the highest in the country, positioning the product for very high-income customers who genuinely extract value from earning and lounges.
Who it's for
Aimed at Itaú Personnalité or Private clients with high monthly spending and frequent travelers who value unlimited VIP lounge access and aggressive points earning to transfer to airlines. It is not a card for those seeking low cost or easy annual-fee waivers.
Points earning
Personnalité version: 3 points per dollar on domestic purchases and 3.5 points per dollar on international purchases. Private version: 4 points per dollar on any purchase (domestic or international), a rate made permanent in 2026 according to specialized sources. Points do not expire while the card is active. Earning is based on the amount spent converted into dollars.
Points program and transfers
Points go to Itaú's points program (formerly Iupp, now 'Itaú Pontos e Cashback'). From there you can redeem products/cashback or transfer to partner airline programs: LATAM Pass, Smiles (Gol), Azul (TudoAzul/Azul Fidelidade) and TAP Miles&Go. Important: there is no direct transfer partnership with Livelo for Itaú points — those seeking Livelo need a different issuer. Current mechanics and partners should be confirmed in the Itaú app.
Related promotions and news
Transfer bonuses and updates from the programs linked to this card, updated live.
Transfer promotions
Miles news
Annual fee and waiver rules
The annual fee can be reduced or waived through relationship criteria: average monthly spending of around R$ 60,000, or roughly R$ 5 million invested at Itaú, or reaching Level 5 of the 'Minhas Vantagens Itaú' program by completing missions (salary deposits, automatic debits, concentrated spending and investments). Exact conditions should be confirmed in the official app/site, as they vary by segment and may change.
How to apply
The card has no public application process. It is arranged directly with a Personnalité or Private Bank manager, or via the Itaú app when the offer appears for an eligible client. Generally you must already be an account holder in one of the segments with compatible relationship and limit. According to Alta Renda Blog, the option only appears in the app for those who already hold another Itaú card with a minimum limit of around R$ 60,000 (to be confirmed on the official site).
Income or net worth range
According to Alta Renda Blog, the Personnalité version requires a minimum income of about R$ 15,000/month or R$ 150,000 in investments; the Private version typically presumes invested assets near R$ 3 million. Itaú does not officially disclose a single minimum income for The One — figures to be confirmed directly with the manager.
Typical requirements
- Be an Itaú Personnalité or Itaú Private Bank client
- Income or investments compatible with the segment (Personnalité: income from R$ 15,000/month or R$ 150,000 invested, according to specialized sources)
- Approved credit and relationship analysis by the bank
- Up-to-date registration; often already holding another Itaú card with a high limit
Ways to obtain
- Become an Itaú Personnalité or Private Bank client
- Concentrate your relationship (salary, investments, spending) to raise your profile
- Check the The One offer in the Itaú app or request it from your manager
- Await credit analysis and limit approval
- Receive the metal card and activate benefits (VIP lounges and insurance) via Mastercard
VIP lounges
Unlimited access to LoungeKey lounges worldwide, plus Mastercard Black lounges at Guarulhos Airport (GRU), Terminal 3. The holder can bring guests for free — according to sources, up to 12 guests per year on the Personnalité version and up to 20 on the Private version (figures to be confirmed). Additional cards also receive the lounge benefit.
Network benefits
- Mastercard Black package (top of the Mastercard network)
- Access to LoungeKey lounges and Mastercard Black lounges at GRU
- 24h Mastercard Concierge
- Mastercard Surpreenda (collect and redeem points on offers)
- Premium Mastercard offers and experiences (Priceless Cities)
- Global network servicing and assistance
Insurance
- Purchase protection insurance
- Original extended warranty
- Rental car insurance
- Baggage insurance
- Travel insurance/assistance via Mastercard Black (coverage and limits to be confirmed in the general terms)
Travel protections
- Global Mastercard Black travel assistance
- Lost/damaged baggage insurance
- Coverage for travel inconveniences per Mastercard Black terms (details to be confirmed)
Airline benefits
- High earning of points transferable to LATAM Pass, Smiles, Azul and TAP Miles&Go
- Unlimited VIP lounge access at airports (LoungeKey and Mastercard Black), useful regardless of airline
Hotel benefits
- Access to hotel experiences and offers via Mastercard Priceless / premium network programs (specific benefits to be confirmed on the official site)
Car rental benefits
- Rental car insurance included in the Mastercard Black package
- Offers and discounts at Mastercard partner rental agencies (conditions to be confirmed)
✅ Advantages
- Earning among the highest in Brazil (up to 4 points per dollar on the Private version)
- Points that do not expire
- Unlimited access to LoungeKey and Mastercard Black VIP lounges
- Metal card and full Mastercard Black package
- Free guests in VIP lounges (up to 12 or 20 per year)
⚠️ Disadvantages
- R$ 4,000 annual fee, among the highest in the country
- Exclusive to Personnalité and Private clients — restricted access
- Does not transfer points to Livelo
- Annual-fee waiver requires very high spending/assets
- Official minimum income not transparently disclosed
History of relevant changes
- The One is Itaú's top-tier card line, positioned above the bank's other Black cards and aimed at the Personnalité and Private segments.
- Throughout 2025, Itaú repeatedly extended the boosted 4-points-per-dollar rate on the Private version, initially announced as temporary.
- In January 2026, according to Alta Renda Blog, the Private version's 4 points per dollar became permanent (to be confirmed on the official site).
- The points program migrated from the former Iupp (discontinued in 2022) to the current 'Itaú Pontos e Cashback'.
Frequently asked questions
What is the annual fee of the Itaú The One Mastercard Black?
The annual fee is R$ 4,000 per year, one of the highest in the Brazilian market, usually split into monthly installments. It can be reduced or waived through spending or investment criteria.
How many points does the card earn?
On the Personnalité version, 3 points per dollar on domestic purchases and 3.5 internationally. On the Private version, 4 points per dollar on any purchase, a rate made permanent in 2026 according to specialized sources.
Do points transfer to Livelo?
No. Itaú points (Itaú Pontos program, formerly Iupp) have no transfer partnership with Livelo. You can transfer to LATAM Pass, Smiles, Azul and TAP Miles&Go.
How do I get the card?
You must be an Itaú Personnalité or Private Bank client with compatible relationship/limit. It is arranged with the manager or via the app when the offer appears; there is no public application.
How do the VIP lounges work?
The card grants unlimited access to LoungeKey lounges worldwide and Mastercard Black lounges at Guarulhos (GRU T3), with free guests (up to 12 on Personnalité and up to 20 on Private, to be confirmed).
Sources consulted
Information gathered from official and specialized sources in 2026-07. Annual fee, income and rules change — always confirm on the issuer's official website.