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.Our take: While it is a premium credit card, the Mastercard® Gold Card™ has lackluster benefits that 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 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.
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 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.
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.
Travel credits and protection
On top of the perks outlined above, Mastercard® Gold Card™ membership includes complimentary travel credits and protection, including:
Luxury card app
Concierge agents are available 24/7 via live chat to assist with any request from Mastercard® Gold Card™ cardholders. App users can browse and book a memorable Luxury Card experience, make travel arrangements and explore exclusive offers and perks.
Surprises
Mastercard® Gold Card™ cardholders 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!”
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.
Cardholders 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.
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.
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.
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 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.
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.
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 | 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. | None | $995 ($295 for each Authorized User added to the account) |
Apply Now
on Luxury Card's secure site |
|
Chase Sapphire Reserve®
Apply Now
on Chase's secure site |
Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ 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 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠. | $550 |
Apply Now
on Chase's secure site |
|
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 for the Chase Sapphire Reserve® is better. You can earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ 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. If you transfer these points to certain partners on the Chase TravelSM portal, you can squeeze even more value out of them.
Finally, the Chase Sapphire Reserve® comes with a valuable sign-up bonus: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠. 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®.
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). You can also 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™.
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, 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.
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 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.
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.
In order to qualify for the Mastercard® Gold Card™, you will need to have Mastercard® Gold Card™ 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.
For gold card eligibility, you will need to have excellent credit. 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 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.
