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
The Mastercard® Gold Card™ is for the affluent traveler who wants to access luxurious travel perks and first-class benefits. It earns you one point for every dollar spent and provides exceptional concierge services.
Doug Milnes, CFA
Head of Credit Cards at MoneyGeek
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.
Alene Laney
Finance Journalist
Alene Laney is an award-winning personal finance writer with over a decade of experience in media. Her works have been featured on Bankrate, Rocket Mortgage, GoBankingRates and Yahoo! Finance, among others. Laney has a degree in English literature, history from the University of Utah.
Doug Milnes, CFA
Head of Credit Cards at MoneyGeek
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.
Alene Laney
Finance Journalist
Alene Laney is an award-winning personal finance writer with over a decade of experience in media. Her works have been featured on Bankrate, Rocket Mortgage, GoBankingRates and Yahoo! Finance, among others. Laney has a degree in English literature, history from the University of Utah.
Updated: September 20, 2024
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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.
- PROS
- Annual air travel credit of up to $200
- Global Entry/ TSA PreCheck fee credit
- One reward point per dollar spent on purchases
- Redeem reward points to book airline tickets
- Redeem reward points as cash back or statement credit
- No foreign transaction fees
- VIP airport lounge access
- 24/7 travel assistance services
- Travel insurance coverage
CONS- Steep annual fee
- Cash advance and balance transfer fees
- $995 annual fee
- 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
MoneyGeek follows a thorough methodology when reviewing credit cards. Our study is based on information collected from the Consumer Finance Protection Bureau along with other factors such as standardized data points, estimated average spend profiles, annual and introductory bonuses and re-ranking process. We also re-rank our cards regularly to ensure our rankings are up to date.
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
- 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 19.99%. 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: 19.99% 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: 20.49% to 29.49% 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
You need to have a very good to excellent FICO credit score to qualify for this card.
Barclays, the issuing bank of Luxury Card Mastercard® Gold Card™, submits records to all three major credit bureaus.
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.
Mastercard® Gold Card™ has top-of-the-line customer service that cardmembers can contact 24/7.
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.
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.
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.
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 September 20, 2024.
- Barclaycard website. "Your Credit Limit Explained." Accessed September 20, 2024.
- Priority Pass website. "Member’s Benefits." Accessed September 20, 2024.
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