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: Cardholders 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: Cardholders will get a $100 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 1,300 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™ 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!”
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.
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.
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 20.74% to 28.74%, based on your creditworthiness. There is a fee for balance transfers.