Our take: As a premium credit card, the Mastercard® Gold Card™‘s lackluster benefits don’t justify its exorbitant annual fee.
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 earn 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.
Intro Purchase APR
N/A
Regular Purchase APR
21.24%, 25.43% or 28.24%
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.
Regular BT APR
After that, (and for balance transfers that do not post within 45 days of account opening) the APR will be 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers.
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.
Key takeaways:
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 available 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 if you use the card enough. Here’s what the Mastercard® Gold Card™ has to offer.
On the whole, the Mastercard® Gold Card™ offers a decent rewards program, which we’ll break down below. We don’t think the rewards are enticing enough to justify the card’s high annual fee, but it does come with some interesting benefits in addition to its standard rewards rate.
Travel perks
In addition to a 24/7 travel concierge service, the Mastercard® Gold Card™ also comes with a number of travel perks to help your trips feel more luxurious.
Travel credits and protection
On top of the perks outlined above, Mastercard® Gold Card™ membership includes complimentary travel credits and protection, which the company values at a total of $500:
Luxury card app
Available only to cardmembers, concierge agents are available 24/7 via live chat to assist with any request. Designed to inspire and handle cardmembers’ everyday needs, app users can browse and book a memorable and unique Luxury Card experience, make travel arrangements and explore exclusive cardmember offers and perks.
Surprises
Finally, Mastercard® Gold Card™ cardholders can expect to receive exclusive access to events, golf courses and Priceless® Surprises. The company doesn’t divulge what these surprises may be, choosing instead to say, “You never know where, when or who we will surprise next!”
One of the biggest strikes against the Mastercard® Gold Card™ is its rewards program — it offers an underwhelming rewards program when you consider its high annual fee.
You will earn a 2% value for airfare redemptions with no blackout dates or seat restrictions. 2% value for cash back redemptions. Earn one point for every one dollar spent.
You can easily find the same rate with many no-annual-fee cashback cards, like the Wells Fargo Active Cash® Card. However, if you choose to redeem those points for airfare or cashback redemptions, your rewards rate increases to 2 points per dollar spent.
The company values its points at 2 cents each, since 50,000 points can be redeemed for a $1,000 airline ticket.
The card’s design is its biggest selling point. This Barclays luxury card (Barclays is its issuer, by way of Luxury Card) has a patented 24K-gold-plated front and stainless steel back — weighing 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.
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 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers.
You don’t need to be a member of the 1% to qualify for the Mastercard® Gold Card™ — but you will need Excellent credit when you submit your card application in order to gain credit approval. In addition, you’ll need a spare $995 ($295 for each Authorized User added to the account), unless you want to start carrying a balance on your card after the very first month.
Aside from the Mastercard® Gold Card™‘s high annual fee of $995 ($295 for each Authorized User added to the account), there is also a high fee for additional users. Most credit cards allow you to add authorized users to your account for no extra fee, but since the Mastercard® Gold Card™ is plated in gold, you’ll have to pay $295 for each authorized user you add to your account.
There are several luxury cards available for people who charge a lot to their credit cards each year. Most other high-end cards offer better incentives than the Mastercard® Gold Card™.
| Credit Cards | Rewards Rate | Welcome Offer | Annual Fee | |
|---|---|---|---|---|
Mastercard® Gold Card™
 Apply Now
on Luxury Card's secure site |
2% value for airfare redemptions with no blackout dates or seat restrictions. 2% value for cash back redemptions. Earn one point for every one dollar spent. | N/A | $995 ($295 for each Authorized User added to the account) |
Apply Now
on Luxury Card's secure site |
Chase Sapphire Reserve®
Review Coming Soon
|
Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases | Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards® | $550 | Review Coming Soon |
The Platinum Card® from American Express
|
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. | Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. | $695 | |
Mastercard® Black Card™
Apply Now
on Luxury Card's secure site |
2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent. | N/A | $495 ($195 for each Authorized User added to the account) |
Apply Now
on Luxury Card's secure site |
Plus, the rewards rate is better. You can earn Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases With your Chase Sapphire Reserve®. If you transfer those points to certain partners on the Ultimate Rewards portal, you can squeeze even more value out of them.
Finally, the Chase Sapphire Reserve® comes with a great sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards® It also comes with a $300 travel credit, lounge access and comparable travel benefits. If you’re looking for a luxury credit card with high-end benefits, it may be hard to beat the Chase Sapphire Reserve®.
The Platinum Card® from American Express is targeted specifically toward people seeking luxury travel amenities, such as access to Amex Centurion and Priority Pass lounges, concierge service for high-end reservations and travel upgrades.
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 also earn further benefits, like 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). New cardholders Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
And although its $695 annual fee is rather high, it’s still much cheaper than the Mastercard® Gold Card™.
To see rates & fees for The Platinum Card® from American Express please click here.
While most of the benefits are the same, cardholders will only receive 2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent. Also, earn an annual travel credit of just $100. And the card isn’t made out of gold.
On the whole, it’s still probably 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 to carry the card. However, when compared to similarly priced cards, such as those above, we don’t think the Mastercard® Black Card™ stands out.
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:
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 non-travel purchases are low, and we don’t believe the card’s benefits outweigh the ridiculously high annual fee. Other premium credit cards have more to offer at significantly lower prices.
However, if you’re a frequent traveler who is looking for a swanky card with luxury travel benefits, this card could be a decent choice for you. If you plan to take advantage of the travel perks, credits, discounts and lounges, and value an extravagant gold-plated credit card, you may find that the Mastercard® Gold Card™ could certainly be worth it.
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) — these include items like a capped interest rate during and after the time of active military duty.
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 24K-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.
For gold card eligibility, you will have to have a excellent. You’ll also need to be able to pay the high annual fee. If you meet both of these requirements, you can fill out the Mastercard® Gold Card™ application online.
The Mastercard® Gold Card™ is a luxurious, gold-plated, rewards-earning 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).
Owning a Mastercard® Gold Card™ is considered to be 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. Both black and gold cards tend to fall into the premium credit card category, which grants a level of status exclusive to these types of cardowners.
No, the Mastercard® Gold Card™ does not offer a sign-up bonus.
To see rates & fees for The Platinum Card® from American Express please click here.
The information related to Chase Sapphire Reserve® and Chase Sapphire Preferred® Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.
