Mastercard® Gold Card™

The Mastercard® Gold Card™ is a high-end, premium credit card designed specifically for well-heeled consumers who enjoy luxurious perks. The card has an eye-watering annual fee but offers a good rewards program and fancy services that include 24/7 concierge service, airport lounge access, and travel upgrades.

The card stands out for its heavyweight, gold-plated design, which may be important to consumers looking for a prestigious status symbol. Here we dive into the card’s details, pro and cons, top alternatives, and other things you must consider before deciding to apply.

The Mastercard® Gold Card™ caters to consumers who frequently travel and entertain. It offers card membership rewards and benefits for those seeking a luxurious lifestyle.

The gold-plated Mastercard® Gold Card™ weighs an impressive 22 grams. Getting it will cost you and an authorized user more than $1,000, but you’ll receive valuable card membership rewards and the Luxury Card experience, plus the following benefits detailed in the bullet points:

You can apply directly on the bank’s website by clicking the Apply Now button, where you can also learn more about its many benefits.

The Mastercard® Gold Card™ typically requires you to have a FICO score of 720 or higher. In terms of income, the issuer doesn’t publicly disclose specific minimum income requirements, but it’s safe to say the card caters to high-income individuals.

But you’ll need a high income due to the card’s stout annual fee and the spending required to earn some of its benefits. Applicants should have a stable income because the bank wants reassurance that cardmembers can afford the card’s monthly minimum payments.

To qualify, you must be a US resident, age 18 or older. You can apply online by providing:

• • Identity and contact data

• • Your Social Security number

• • How long you’ve resided at your permanent address

• • Your income source and total annual gross

• • Your monthly housing payment (mortgage or rent)

• • Information about your bank account

The bank does not offer a prequalification step and will conduct a hard credit check to determine your eligibility.

There’s no doubt the Mastercard® Gold Card™ provides numerous benefits. Still, its annual fee seems high compared to what competitors charge for similar cards. The following chart compares the card’s highs and lows, so you can make an informed decision as to whether this is the right choice for you.

BENEFITS
Reward Points	Earn points for every dollar spent, redeemable for travel, cash back, or gift cards.
Airfare Redemption Value	The card enhances point value when redeemed for airfare.
Airport Lounge Access	Complimentary access to 1,700+ airport lounges worldwide
Global Entry/TSA PreCheck	Credit for Global Entry or TSA Pre Check application fee.
Hotel Room Upgrades	Access to luxury hotel benefits, including room upgrades.
Exclusive Travel Experiences	Offers exclusive travel experiences and services
24/7 Concierge Service	Personalized assistance for travel, dining, and entertainment arrangements
Card Design	Gold-plated stainless steel card design
Introductory 0% APR on Balance Transfers	0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. After that, (and for balance transfers that do not post within 45 days of account opening) the APR will be 19.49% to 27.49%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate.
Partner Benefits	Deals with Lyft, Instacart, and Peacock
No Foreign Transaction Fees	International purchases don’t incur foreign transaction fees, ideal for travelers abroad
Cell Phone Coverage	Pay your mobile bill with your card to activate damage and theft coverage
Travel Insurance	Comprehensive travel insurance coverage for trips booked with the card
DRAWBACKS
High Annual Fee	$1,199 ($349 for each Authorized User added to the account)
Low Rewards Rate	The points earning rate may not be as competitive as other premium credit cards, especially for non-travel purchases.
Limited Bonus Categories	Rewards are not tiered or category-specific, meaning spending in certain areas doesn’t earn bonus points.
Exclusive Audience	The card targets a very specific, high-income clientele, making it less accessible or practical for the average consumer.
Travel Benefits Utilization	Maximizing travel benefits requires frequent travel, which may not align with your lifestyle or needs.

We advise you to check out the best alternative cards below before applying for this one. All three may offer a better card experience at a lower cost.

The following three cards compete directly with the Mastercard® Gold Card™, yet they all cost less. While they still charge significant annual fees, they provide extensive travel benefits that justify the expense, plus some things you won’t get from the Gold Card. And, they offer much better rewards.

The Chase Sapphire Reserve® has a $795 annual fee, well below that of the Mastercard® Gold Card™. The fee pays for itself through the card’s travel rebates, generous rewards, annual credits, and extensive conveniences and protections.

Your points gain 50% additional value when you redeem them for travel through the Chase portal. You also receive a travel credit each anniversary year. The card offers the best travel insurance coverage available, including primary collision damage waivers on rental cars. We rate it the best credit card in this review.

Priced $600 below the Mastercard® Gold Card™, the Capital One Venture X Rewards Credit Card provides better rewards and a signup bonus. Both cards offer an anniversary credit, but the Capital One Venture X Rewards Credit Card partially reimburses you annually for the bookings you make through Capital One Travel.

You can transfer the points from this Visa® Infinite card to more than a dozen partner loyalty programs. Although either card can get you into participating Priority Pass™ lounges, only the Capital One Venture X Rewards Credit Card can provide access to Capital One Lounges.

The Platinum Card® from American Express® provides excellent travel rewards. Its annual fee helps you pay for airline and baggage fees, hotel stays, discounts at select merchants, and digital entertainment.

The card offers exclusive deals from American Express Travel. It also insures you against trip delays, cancellations, and lost baggage. The Platinum Card® does not charge foreign transaction fees.

It’s a lot harder to find positive comments from this card’s owners, as most commentators have a distinctly sour take on the card.

SeoulTrain90 is a happy camper:

“First thoughts – This card is heavy! Much heavier than Chase Sapphire Preferred and Marriott Premier Rewards. After looking through the benefits guide, I can definitely see that it has more perks than advertised. Nothing to rave about, though. With the 50k point sign-up bonus, this will offset the annual fee for the first year. After that, I’ll decide whether I want to keep it for another year. With the $200 airline credit and $100 Global Entry fee waiver, I’ll definitely come out ahead this year.”

Slashafk is decidedly less enthusiastic:

“This is one of the worst credit cards to get. The fees on the “luxury card” credit cards are too high for what you get. It’s most likely for consumers who don’t know any better and want to get that feeling of “status.” There is no reason to have this card. To put it in perspective, the Amex Platinum is roughly $700 a year with 10x the perks.”

Mizamato is more succinct:

“It’s an expensive paperweight.”

Ultimately, it would be best if you formed your own opinion based on the card’s strengths and weaknesses.

The Mastercard® Gold Card™ lets you collect rewards on purchasers through a points-based system. You earn 2X points you redeem for travel (i.e., flights, hotel stays, and car rentals) or cash back.

You must book the trip through InComm InCentives to receive the bonus rate. All other eligible purchases earn 1 point per $1 spent.

You can redeem your points in several ways, including:

• • Airfare redemptions: All airline bookings are final and non-refundable unless you book a refundable trip. If you wish to cancel a booking, you will forfeit your points redeemed for that booking and may incur additional supplier fees. There are no restrictions or blackout dates for eligible or participating airfare redemptions.

• • Cash back: You can receive a direct deposit into a US checking or savings account or a cash back statement credit.

• • Hotel stays and car rentals: Redemptions vary based on availability and the redemption option selected.

• • Gift cards, gift certificates, merchandise, and experiences: Redemption minimums vary based on what you are redeeming for.

You can redeem points either by phone (the number is on the back of the card) or by logging in to your account online. Authorized users can redeem points by phone, which is not typical. Usually, only primary cardholders can redeem rewards.

This card offers a range of credit limits depending on your creditworthiness, income, and other factors. It is a World Elite Mastercard®, so you usually can get a starting credit limit as high as $10,000, although this isn’t guaranteed.

The maximum credit limit may approach or exceed six figures. The card doesn’t allow applicants to request a specific card limit. You can ask for a higher limit, but you should wait at least six months between requests.

The Mastercard® Gold Card™ offers a suite of travel insurance benefits designed to provide security and peace of mind while traveling, including the following:

• • Trip Cancellation/Interruption Insurance: This insurance provides secondary coverage for a round-trip purchase when you use your card. You can receive reimbursement for the cost of non-refundable round-trip expenses up to $5,000 per insured person if certain accidental events cause you to cancel or interrupt your trip for a covered reason.

• • Baggage Delay Insurance: You may be eligible for reimbursement of covered items up to $100 a day (maximum three qualifying days) for eligible baggage delays of more than four hours from the time you arrive at the travel destination (excluding arrival at your primary residence).

• • Travel Accident Insurance: In the event of an unfortunate travel accident, you will receive up to $250,000 coverage for eligible common carrier accidental death and dismemberment at no additional cost when you charge your entire travel fare to your card for a covered trip.

• • Rental Car Collision Damage Waiver: You get secondary coverage for damages to an eligible rental vehicle when you pay for the entire rental transaction using your card and decline the coverage from the rental agency.

• • Travel Assistance Services: The issuer designed this perk to assist you or your travel companions when you’re traveling 50 miles or more from home. Service is available 24 hours a day, 365 days a year, and provides trip travel assistance, medical assistance, and legal referrals.

• • Roadside Assistance: You can call for help when you have a roadside emergency. Assistance may include towing, fuel delivery, jump-starts, and tire changing.

The card does not offer all the travel insurance benefits available from the Chase Sapphire Reserve® card, including emergency medical and dental benefits, emergency evacuation and transportation, and trip delay reimbursement. In addition, the Chase Sapphire Reserve® card’s collision damage waiver is primary insurance in the United States.

Luxury cards come in Gold, Black, and Titanium varieties. The following chart highlights how the three cards differ:

	Mastercard® Gold Card™	Mastercard® Black Card®	Mastercard® Titanium Card®
Annual Fee	$1,199 ($349 for each Authorized User added to the account)	$699 ($249 for each Authorized User added to the account)	$299 ($149 for each Authorized User added to the account)
Card Design	Gold-plated stainless steel	Stainless steel with carbon layer	Brushed stainless steel
Airfare Redemption Rate	2% value	2% value	2% value
Cash Back Redemption Rate	2% value	1.5% value	1% value
Travel Benefits	Most extensive luxury travel benefits, including VIP experiences and exclusive hotel partnerships	Comprehensive travel benefits, Priority Pass Select, various hotel benefits	Basic travel benefits, Priority Pass Select
Concierge Service	Top-tier, personalized service	Standard concierge service	Basic concierge service
Airport Lounge Access	Automatic enrollment in Priority Pass™ Select with access to 1,700+ airport lounges worldwide	Automatic enrollment in Priority Pass™ Select with access to 1,700+ airport lounges worldwide	Automatic enrollment in Priority Pass™ Select with access to 1,700+ airport lounges worldwide
Global Entry/TSA PreCheck Credit	Yes	Yes	No
Hotel Room Upgrades	Highest likelihood of upgrades	Moderate likelihood of upgrades	Basic upgrade opportunities

The lower-priced cards deliver many of the same perks as the expensive one. That provides an excellent opportunity to save money while still obtaining premium perks.

We can only justify the card’s inflated annual fee if you must have a credit card with a 22-gram gold-plated design, and then only if you are a big spender. The three alternatives in this review above all provide a better cost/benefit ratio but are not as physically impressive as the Mastercard® Gold Card™, which is but a matter of opinion.

If you couldn’t care less about the appearance of your credit card, we advise you avoid applying for it until you evaluate the competition.

• • Travel benefits: The card offers excellent travel benefits, including access to airport lounges, travel insurance, and room upgrades.

• • Personalized customer service: The 24/7 concierge service offers customized assistance for various needs, from travel bookings to restaurant reservations.

• • Status and prestige: Some may consider the card to be a status symbol, thanks to its gold-plated design that screams: “I’m rich!” Owning this card tells the world you are a financial success with an enviable lifestyle. The prestige and gloating from this premium card may be worth the cost to some consumers.

On a personal note, I evaluated all the products in this review when I decided to get a top-drawer travel card. I ended up with Chase Sapphire Reserve®.

About the Author

Eric Bank

Finance Writer

Eric Bank is an M.B.A. who has covered financial and business topics since 1985. He has contributed regularly to Credible, eHow, WiseBread, The Nest, Zacks, Chron, BadCredit.org, and dozens of other outlets. Eric specializes in taking complex subject matters and explaining them in simple terms for consumer audiences. Eric holds a Master's in Business Administration from New York University and a Master's in Finance from DePaul University.

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