As one of the most expensive luxury cards on the market, the Mastercard® Gold Card™ has a list of luxurious first-class travel benefits and access to members-only perks. If you don’t mind paying higher annual fees in exchange for luxury concierge services, then this card might be for you. The actual gold-plated card might be a flashy bonus. However, it is not for the average consumer. Other high-end cards offer better benefits and allow more flexibility in terms of using earned points.
MoneyGeek’s Take
Mastercard® Gold Card™ Review
Updated: December 10, 2024
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Mastercard® Gold Card™
On Issuer's Site
Rewards Summary
Earn one point for every one dollar spent.Earn 1 point per dollar on every purchase (2% bonus for cash back redemptions, 2% bonus for airfare redemptions)
APR
20.74% – 28.74% VariableAnnual Fee
$995 Recommended Credit
740-850 (Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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Mastercard® Gold Card™ Overview
With the Mastercard® Gold Card™, you can earn one point for every dollar spent on net purchases. Points can be redeemed in several ways.
Quick Take
- $995 annual fee ($295 for each Authorized User added to the account)
- Patented 24K-gold-plated stainless steel front
- Access to Luxury Card Concierge, Luxury Card Travel and Luxury Card Experiences
- One reward point per dollar spent on purchases
- Redeem reward points for flight tickets, as cash back or as a statement credit
- VIP airport lounge access with Priority Pass Select
- Airline credits of up to $200 each year
- Airport meet & assist
- No foreign transaction fees
- Travel insurance coverage
- Mobile phone protection
Important Card Details
Before getting a credit card, you should review costs like APR, annual fees and other possible penalties that you might have to pay when you use the card.
Regular APR
The Mastercard® Gold Card™ has a high variable APR of 20.74% – 28.74%. Non-promotional purchases and balance transfer APR have an additional 11.74% after the prime rate. Cash advance APR has an additional 21.99% after the prime rate. The prime rate varies based on the highest prime rate on the last business day of each month as listed in The Wall Street Journal.
0% Introductory APR for Balance Transfers
A 0% introductory APR applies on balance transfers made within 45 days of opening. After 15 billing cycles, the APR will be 19.99%, which will vary based on the prime rate.
Annual Fee
This card charges a hefty $995 annual fee. It also costs $295 for each authorized user.
Foreign Transaction Fee
There is no foreign transaction fee for this card.
Late Fees
If you are late on a payment, you’ll pay a $39 fee.
Additional Benefits
The Mastercard® Gold Card™ has an extensive list of features and benefits to consider that set it apart from other cards in the space.
- Cellular Telephone Protection: Using the card to pay your telephone bill automatically provides coverage for damage and theft, as well as yearly coverage for phone repairs.
- Travel Accident and Baggage Delay: In case of baggage delay of four hours from the time of arrival, you are eligible for a reimbursement of covered items up to $100 a day for a maximum of three days. In case of a travel accident, you will receive up to $250,000 coverage at no additional cost.
- Access to Porsche Experience Centers: Cardmembers who book a 90-minute driving experience at either the Atlanta or Los Angeles Porsche Experience Center can take advantage of exclusive perks and personalized coaching.
- Luxury Card Experiences: As a card member, you get privileged access to exclusive events. However, this is subject to availability. The Luxury Card is not very clear about which kind of experiences are included in this benefit.
- Golf Program: If you’ve been wanting to take up golf, having this card gives you access to golf travel experiences, tournaments and private club courses.
How the Mastercard® Gold Card™ Compares To Other Cards
Other travel rewards credit cards come with a cheaper annual fee or no fee. If you are really looking for experiences and first-class access, you might consider the Titanium or Black Credit Card. This offers almost the same luxury card benefits as the Mastercard® Gold Card™.
How the Mastercard® Gold Card™ Compares
Mastercard® Gold Card™
- Annual Fee: $995
- Purchase APR: 29.99% variable
- International Transaction Fee: 0%
- Rewards Rate: Two cents per dollar
- Best For: Affluent travelers looking for an exclusive card that offers luxury perks
Delta SkyMiles® Platinum American Express Card
- Annual Fee: $350 see Rates and Fees
- Purchase APR: 20.24%-29.24% variable see Rates and Fees
- International Transaction Fee: 0% see Rates and Fees
- Rewards Rate: Earn 1X - 3X miles
- Terms Apply
- Best For: Frequent Delta passengers looking to rack up points for free travel
Frequently Asked Questions
What is the average credit score needed to get approved for a Mastercard® Gold Card™?
You need to have a very good to excellent FICO credit score to qualify for this card.
Does the Mastercard® Gold Card™ report to all three credit bureaus?
Barclays, the issuing bank of Luxury Card Mastercard® Gold Card™, submits records to all three major credit bureaus.
What information is needed to apply for a Mastercard® Gold Card™?
Apart from your personal details and contact information, you also need to provide your employment and financial information to properly assess your eligibility. You are also required to list your authorized users and balance transfer amount if you need to pay down a balance on your card.
Does the Mastercard® Gold Card™ have good customer service or satisfaction?
Mastercard® Gold Card™ has top-of-the-line customer service that cardmembers can contact 24/7.
Does the Mastercard® Gold Card™ have a mobile app or the option to pay or manage your account online?
Cardmembers of the Mastercard® Gold Card™ can manage their account on the myluxurycard.com website or the mobile app. They can view their card balance, view current reward offers, book services or chat with customer service.
Does the Mastercard® Gold Card™ raise credit limits automatically or charge for limit increases?
Barclays, like many other card issuers, can review your payment history and automatically increase or decrease your limit. While they do not allow any credit limit requests when you apply, you can ask for a credit limit raise simply by submitting a request online through the Barclays app.
Does the Mastercard® Gold Card™ offer the option to freeze your credit/account or have other security features?
Though the card comes with standard security features, there’s still a possibility of becoming a victim of fraudulent activities. In the event of possible fraud, identity theft or a stolen or lost card, the Mastercard® Gold Card™ comes with ID Theft Protection and Fraud Liability Protection. These benefits offer card replacement and protection against unauthorized purchases. The Global Service feature also provides 24/7 customer service assistance for these types of concerns.
Does Barclays offer other credit cards besides the Mastercard® Gold Card™?
In addition to the Mastercard® Gold Card™, Barclays also offers the Mastercard® Black Card™ and Mastercard® Titanium Card™.
For rates and fees of the Delta SkyMiles® Platinum American Express Card, please click here.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Barclaycard US Website. "Terms and Conditions." Accessed December 10, 2024.
- Barclaycard website. "Your Credit Limit Explained." Accessed December 10, 2024.
- Priority Pass website. "Member’s Benefits." Accessed December 10, 2024.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.