No, the Mastercard® Gold Card™ does not waive its annual fee for active military members. Though Barclaycard previously offered perks like 0% APR and no annual or late fees to active duty military cardholders, they have since removed those benefits. However, there are still a few Mastercard® Gold Card™ military benefits that are required by the Servicemembers Civil Relief Act (SCRA), including a capped interest rate during and after the time of active military duty.
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Is the Mastercard® Gold Card™ Worth the Sky-High Annual Fee?
Content was accurate at the time of publication.
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance Transfer Intro Rate
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 20.24% to 28.24%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate.
Rewards Rate
2% Value for Airfare Redemptions. 2% Value for Cash Back Redemptions. Terms and Conditions Apply.
Extra Perks
Up to a $120 application fee credit for the cost of TSA Pre✓® or Global Entry. Also, enjoy automatic enrollment in Priority Pass™ Select with access to 1,500+ airport lounges worldwide with no guest or lounge limits. Includes credits at select airport restaurants for cardholder and one guest.
Key takeaway
While it is a premium credit card, the Mastercard® Gold Card™ has lackluster benefits that don’t justify its exorbitant annual fee.
Pros and cons
- Heavy metal, gold-plated card
- Foreign transaction fee of 0% of each transaction in U.S. dollars.
- Luxury travel perks and travel credits
- Airport lounge access
- Travel insurance
- Average rewards rate
- Extremely high annual fee
- No sign-up bonus
- Other premium cards offer better benefits
Is the Mastercard® Gold Card™ worth it?
Some things in life aren’t meant to be a good deal — they’re done for the panache. Coming with an annual fee of $995 ($295 for each authorized user added to the account), the gold-plated Mastercard® Gold Card™ is one of those things.
With an average rewards program and no sign-up bonus, the Mastercard® Gold Card™ won’t give you much in the way of travel benefits. But it will earn you style points, and that counts for something, right? Read our full review to decide for yourself.
Quick facts
- Click APPLY NOW to apply online.
- Ideal for those seeking a top-of-wallet premium card with straightforward rewards and exceptional service. Cardmembers can avoid juggling various cards and monthly statements while benefiting from travel perks and enhanced protection that exceeds standard credit cards.
- Offers a flat-rate redemption value of 2% for cash back or 2% value for airfare redemption with no airline or seat restrictions and no blackout dates. Cardmembers earn one point for every dollar spent. Point redemption is simple, without requiring a complex reward strategy. The card features no foreign transaction fees, no earning caps, no rotating categories, and eliminates the need to pursue transfer partners to maximize point values.
- Annual Airline Credit—up to $200 in statement credits toward flight-related purchases including airline tickets, baggage fees, upgrades and more. Cardmembers simply pay for airline purchases with their Mastercard Gold Card and the credit is automatically applied to their account. There's no need to activate or designate an airline. The full credit amount is available at the start of the calendar year.
- Up to a $120 application fee credit for the cost of TSA Pre✓® or Global Entry. Also, enjoy automatic enrollment in Priority Pass™ Select with access to 1,500+ airport lounges worldwide with no guest or lounge limits. Includes credits at select airport restaurants for cardholder and one guest.
- 24/7 Luxury Card Concierge®—Make requests the way you want by phone, email, SMS and chat in the app. Connect directly with a real agent and receive 24/7 assistance for tasks big and small. Requests do not require a purchase, incur no charge for making them, and do not involve department transfers.
- Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Made with 24K Gold: Weighing in at an industry-leading 22g. Designed for frequent shoppers, big ticket purchases and everything in between.
- Annual Fee: $995 ($295 for each Authorized User). Terms and conditions apply.
- Recommended Credit
Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
720
850
Excellent
- Earning rate: 2% Value for Airfare Redemptions. 2% Value for Cash Back Redemptions. Terms and Conditions Apply.
- Annual fee: $995 ($295 for each authorized user added to the account).
- Foreign transaction fee: 0% of each transaction in U.S. dollars.
Intro Purchase APR
N/A
Regular Purchase APR
20.24% to 28.24% Variable, based on your creditworthiness and other factors
Intro BT APR
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 20.24% to 28.24%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate.
Regular BT APR
20.24% to 28.24% Variable APR on balance transfers, based on your creditworthiness and other factors
Annual Fee
$995 ($295 for each Authorized User added to the account)
Cash Advance Fee
Either $10 or 5% of the amount of each cash advance, whichever is greater.
Foreign Transaction Fee
0% of each transaction in U.S. dollars.
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Our Mastercard® Gold Card™ review: Is it worth the annual fee?
Key takeaways:
- The Mastercard® Gold Card™ comes with unusual gifts and perks.
- The card’s high annual fee outweighs the benefits you’ll get from its rewards program.
- Its coolest perk is simply that it’s heavy and plated with 24-karat gold.
With an annual fee just shy of a grand — $995 ($295 for each authorized user added to the account) — the Mastercard® Gold Card™ is one of the most expensive luxury cards on the market. But it offers little to make up for that cost compared to other high-end cards.
Still, if the annual fee doesn’t bother you and you’re interested in a flashy card, you can earn decent rewards with the Mastercard® Gold Card™. Here’s what it has to offer.
Mastercard® Gold Card™ benefits
On the whole, the Mastercard® Gold Card™ has a solid rewards program, which we’ll break down below. We don’t think the rewards are enticing enough to justify the high annual fee, but the card does come with some unique benefits.
Travel perks
The Mastercard® Gold Card™ comes with a 24/7 travel concierge service and a number of travel perks to make your trips feel more luxurious.
- Car rental benefits: Get competitive pricing and upgrades from Luxury Card’s auto rental partners.
- Airport meet & assist: Arrange for a representative to expedite your trip through the airport.
- No foreign transaction fees (0% of each transaction in U.S. dollars.): Avoid exchange fees when you use your card abroad.
- Luxury Card Travel®: Luxury Card Travel® offers cardmembers an average value of $500 in travel benefits and services per stay at over 3,000 properties around the world. Benefits may include resort credits, breakfast vouchers, complimentary food and beverages, room upgrades, free Wi-Fi, early check-in, late checkout and welcome perks. View travel benefit examples at the Luxury Card Hotel & Travel site.
Travel credits and protection
On top of the perks outlined above, Mastercard® Gold Card™ membership includes complimentary travel credits and protection, including:
- Airline credit: Cardmembers will get an annual $200 air travel credit that can be used toward ticket purchases, baggage fees, upgrades and more.
- Global Entry & TSA PreCheck application credit: Cardmembers will get a $120 statement credit to cover the cost of application fees so they can enjoy expedited arrival into the U.S. at participating international airports.
- VIP airport lounge access: With Priority Pass™ Select membership, you can access more than 1,500 airport lounges worldwide.
- Travel insurance: If your flight is canceled or your baggage is delayed on a trip you purchased with your Mastercard® Gold Card™, you may be reimbursed through Luxury Card’s travel insurance packages. Review your benefits guide for the full terms of your coverage.
Luxury card app
Concierge agents are available 24/7 via live chat to assist with any request from Mastercard® Gold Card™ cardmembers. App users can browse and book a memorable Luxury Card experience, make travel arrangements and explore exclusive offers and perks.
Surprises
Mastercard® Gold Card™ cardmembers receive exclusive access to events, golf courses and Priceless® Surprises. Mastercard doesn’t divulge what these surprises might be, saying instead, “You never know where, when or who we will surprise next!”
Average rewards rates
One of the biggest strikes against the Mastercard® Gold Card™ is its average rewards program. The rewards rate is underwhelming considering the card’s high annual fee.
Cardmembers earn a 2% Value for Airfare Redemptions. 2% Value for Cash Back Redemptions. Terms and Conditions Apply.
While you earn 1 point per dollar spent with the card, the company values its points at 2 cents each, since 50,000 points can be redeemed for a $1,000 airline ticket or $1,000 cash back. That means you earn 2% on your spending if you redeem your Mastercard® Gold Card™ points for airfare or cash back. You can easily find this same rate with many no-annual-fee, cash back cards like the Wells Fargo Active Cash® Card.
With the Mastercard® Gold Card™, you can’t transfer your points to partnering rewards programs to maximize their value like you can with Chase Ultimate Rewards® or American Express Membership Rewards. This limits your redemption options.
24-karat bragging rights
The Mastercard® Gold Card™’s design is its biggest selling point. It has a patented 24-karat, gold-plated front, weighing in at 22 grams. This is purely a style perk, as we doubt you’d be able to resell the card for its gold content.
But if you’re in the market for a luxury item, a gold-plated credit card might be exactly what you’re looking for.
0% intro APR on balance transfers
One other useful benefit of the Mastercard® Gold Card™ is that it offers a 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 20.24% to 28.24%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate. You’ll be charged either $5 or 5% of the amount of each transfer, whichever is greater.
Mastercard® Gold Card™ eligibility
You don’t need to be a member of the richest 1% to qualify for the Mastercard® Gold Card™, but you will need excellent credit when you submit your card application in order to be approved. You’ll also need a spare $995 ($295 for each authorized user added to the account) to cover the card’s annual fee.
Other cons
Most credit cards let you add authorized users for free, but the Mastercard® Gold Card™ charges $295 for each additional authorized user to cover the cost of the gold-plated card.
How does the Mastercard® Gold Card™ compare to other luxury cards?
There are several luxury cards available to people who spend heavily, and most high-end cards offer better incentives than the Mastercard® Gold Card™.
| Credit Cards | Our Ratings | Annual Fee | Rewards Rate | Welcome Offer | |
|---|---|---|---|---|---|
Mastercard® Gold Card™
 Apply Now
on Luxury Card's secure site |
$995 ($295 for each Authorized User added to the account) | 2%
| N/A |
Apply Now
on Luxury Card's secure site |
|
Chase Sapphire Reserve®
Apply Now
on Chase's secure site Rates & Fees |
$795 | 1X - 8X points
| 100,000 points
Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
|
Apply Now
on Chase's secure site Rates & Fees |
|
The Platinum Card® from American Express
|
$695 | 5X points
| As high as 175,000 points
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
| ||
Mastercard® Black Card™
Apply Now
on Luxury Card's secure site |
$495 ($195 for each Authorized User added to the account) | 1.5% - 2%
| N/A |
Apply Now
on Luxury Card's secure site |
Mastercard® Gold Card™ vs. Chase Sapphire Reserve®: Better benefits for a lower annual fee
If you’re in the market for a high-end card, you’ll get more value from the Chase Sapphire Reserve® than the Mastercard® Gold Card™. The $795 annual fee is high, but it’s lower than the fee charged by the Mastercard® Gold Card™.
Plus, the rewards rate for the Chase Sapphire Reserve® is better. You can earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases. And if you transfer these points to certain Chase travel partners, you can squeeze even more value out of them.
Finally, the Chase Sapphire Reserve® comes with a valuable sign-up bonus: Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening. You’ll also get a $300 travel credit, lounge access and comparable travel benefits. If you’re looking for a luxury credit card with high-end benefits, it’s hard to beat the Chase Sapphire Reserve®.
Mastercard® Gold Card™ vs. The Platinum Card® from American Express: The ultimate luxury travel card
When it comes to travel benefits, The Platinum Card® from American Express beats the Mastercard® Gold Card™ by a long shot.
The Platinum Card® from American Express is targeted specifically toward people who want luxury travel amenities like upgrades, concierge service for high-end reservations and access to Amex Centurion and Priority Pass lounges (enrollment required).
You’ll also earn up to 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel® on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel®. Terms apply. You’ll get up to a $200 airline fee credit each year (enrollment required) and up to $100 in statement credits annually for purchases at Saks Fifth Avenue (enrollment required). Also, you may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
And although its $695 annual fee (see rates & fees) is rather high, it’s still much cheaper than the Mastercard® Gold Card™.
Mastercard® Gold Card™ vs. Mastercard® Black Card™: Watered-down benefits for a lower annual fee
With an annual fee of $495 ($195 for each authorized user added to the account), the Mastercard® Black Card™ is a lot more affordable than the Mastercard® Gold Card™. You’ll take a slight hit on the rewards rate in exchange for this reduced price.
While most of the benefits are the same, cardmembers will only receive 2% Value for Airfare Redemptions. 1.5% Value for Cash Back Redemptions. Terms and Conditions Apply. Also, you’ll earn an annual airline credit of just $100. And the card isn’t made out of gold.
It’s a better option than the Mastercard® Gold Card™ since you can still lock in a 2% rate when redeeming for airfare and it costs $500 less per year to carry the card. However, when compared to similarly priced cards like The Platinum Card® from American Express and the Chase Sapphire Reserve®, we don’t think the Mastercard® Black Card™ stands out.
How can you make the most out of your Mastercard® Gold Card™?
If you’re dead set on getting the Mastercard® Gold Card™, you might as well make the most of it by utilizing its top benefits:
- Take advantage of its travel credits to help offset the annual fee: The $200 annual airline fee credit and the $120 Global Entry/TSA PreCheck credit will save you money and time when you travel.
- Be sure to use airport lounges: You’ll get a Priority Pass™ Select membership with this card, which means you can access more than 1,500 airport lounges worldwide.
- Use the travel perks and discounts: With Luxury Card Travel®, you’ll get access to a range of upgrades and credits at over 3,000 worldwide properties. These benefits may include spa credits, breakfast vouchers, room upgrades and more. It’s also worth taking advantage of the travel insurance that comes with the Mastercard® Gold Card™.
- Take up golf: With this card, you’ll get luxury golf perks and access to courses around the world.
- Make the Mastercard® Gold Card™ your primary premium card: Use this card for its luxury benefits and amenities. Only keep other credit cards with low or no annual fees and higher rewards rates.
Should you apply?
In our opinion, if you’re looking for a credit card to use for day-to-day spending, the Mastercard® Gold Card™ isn’t worth it. Its rewards rates for nontravel purchases are low, and we don’t believe the card’s benefits outweigh the high annual fee. Other premium credit cards have more to offer at significantly lower prices.
However, frequent travelers who want a swanky card with luxury travel benefits may find that this card is what they’re looking for. If you plan to take advantage of the travel perks, credits, discounts and lounges, and want an extravagant gold-plated credit card, you might decide that the Mastercard® Gold Card™ is worth the expensive annual fee.
Apply Now
on Luxury Card's secure site
Frequently asked questions
In order to qualify for the Mastercard® Gold Card™, you will need to have excellent credit and be able to afford the annual fee of $995 ($295 for each authorized user added to the account).
Yes, the Mastercard® Gold Card™ is a 24-karat, gold-plated, stainless steel card. The card is heavy, weighing in at 22 grams, which outweighs several similar competing premium credit cards.
In our opinion, the Mastercard® Gold Card™ isn’t worth it for the average consumer. If you’re a frequent traveler with a luxurious lifestyle, the travel benefits of this card could be worth it for you. However, other premium credit cards offer better benefits at lower prices.
The Mastercard® Gold Card™ is a luxurious, gold-plated rewards credit card. Mastercard is widely accepted throughout the world and offers a variety of useful travel perks.
The Mastercard® Gold Card™ charges an annual fee of $995 ($295 for each authorized user added to the account).
The Mastercard® Gold Card™ is a status symbol. These types of cards are often more expensive to own and come with a variety of exclusive rewards and benefits.
Whether a Mastercard® Black Card™ is better than a Mastercard® Gold Card™ will depend on your personal preferences. Black and gold cards tend to fall into the premium credit card category, which grants a level of status exclusive to these types of cards.
No, the Mastercard® Gold Card™ does not offer a sign-up bonus.
To see rates & fees for American Express cards mentioned on this page, visit the links provided below:
The information related to the Wells Fargo Active Cash® Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
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