Mastercard® Gold Card
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The 24-karat gold-plated, stainless steel Mastercard Gold Card is an extravagance in the credit card world. The hefty $995 annual fee can be prohibitively expensive, unless you spend thousands every month and take full advantage of its perks, which are mainly travel-related.
With so many competitive rewards cards out there for people with excellent credit, which this card requires, it’s hard to justify — or even surpass in value — the big price tag. We didn’t think particularly highly of the other cards in this trio, either: Mastercard Titanium Card and Mastercard Black Card.
If you want a card that will turn heads, the flashy Mastercard Gold Card could be the one. Its bold look comes with an equally bold annual fee, just five bucks shy of $1,000.
Although this card offers a few exciting perks, cardholders will have to work harder to get value out of Gold than they would with other cards.
If you do want to try out this card, the easiest way to get value out of it is through travel.
Every year, Mastercard Gold Card members receive an annual $200 air travel credit toward flight-related purchases, including tickets, baggage fees and upgrades. This credit is automatically applied to your account. Additionally, travelers will get complimentary access to more than 1,000 VIP lounges worldwide.
Although cardholders only earn 1 Gold Card point per dollar on all purchases, they can double their points if they use them for airfare on the Mastercard portal. Plus, cardholders will get 2% cash back on their points. This money can be direct deposited or received as a statement credit. This means a $100,000-yearly spend can earn cardholders $1,000 — or just enough to cover that annual fee.
Who should get this card
Since the points system is pretty modest, the Mastercard Gold Card makes sense for people who spend a lot of money each year, as well as people who want VIP airport treatment. With its mixture of double points on airfare, complimentary lounge access, airport escort services, $200 annual travel credit, and $100 Global Entry application fee credit, luxury travelers might benefit from this card.
However, there’s still the $995 hurdle to clear before seeing any real value. Even with the 0% balance transfer APR for the first 15 billing cycles, there’s little chance people hoping to save money on interest from another loan would benefit as the interest would have to be high enough to surpass the $995 to get any real value from this offer.
Fees and APR
- You’ll pay no foreign transaction fee on purchases made outside the U.S.
- The APR is a variable 16.74%.
- The annual fee is $995.
- Each authorized user must pay an annual fee of $295.
- New members will get a 0% introductory APR on balance transfers for the first 15 billing cycles.
- Returned and late payment fees are $37.
Extras, perks and using points
Card members receive a $100 automatic statement credit for the cost of the Global Entry Application Fee.
Get 2% value for cash back on all of your points. This money can be direct deposited into a U.S. bank account or as a statement credit.
Enjoy the convenience of a professional representative who will save you time by meeting and escorting you through the airport process quickly and easily.
Arrange a personal chauffeur service to drive you to a business engagement or to the hotel from the airport.
Earn 1 point for every dollar you spend.
Receive double points when you redeem them for airfare through the rewards program at myluxurycard.com. Airfare redemptions start at 50 points for $1.
How this card compares
The Chase Sapphire Reserve card is one of the top premium travel rewards cards, offering bonuses and perks tailored for consumers who dine out and travel frequently. Cardholders who can justify the pricey $450 annual fee will earn industry-leading rewards when they fly, cruise, rent cars or stay in hotels.
The Barclaycard Arrival Plus World Elite MasterCard is the rare travel rewards credit card that’s uncomplicated.
You’ll earn 2x miles for every $1 spent on all purchases, which means you don’t have to mess with tracking category spending or scratch your head to remember how much the card will pay back for a nice restaurant meal.
The Platinum Card from American Express sets the bar high with a steep annual fee and a high rewards rate It also has best-in-class travel perks like extensive airport lounge access-including their exclusive Centurion lounges, a Global Entry fee credit, hotel upgrades and more comprehensive travel and auto protections than most other cards.
The Capital One Venture Rewards Credit Card’s unlimited 2X miles per $1 spent on all purchases makes it less cumbersome to track than cards with different bonus categories. Depending on your spending habits this could work out better or worse for you in terms of mileage earning potential. One of the best attributes of this card is you can book your travel any way you like, on any site, and then redeem your miles as a statement credit towards that purchase. This makes it a more flexible choice than other cards that require you to use their travel portals for maximum value.