Some credit cards tend to stand out from the crowd, either because of the way they’re made or because of the benefits they offer.
MasterCard Gold is one of these cards. Crafted from 24k gold, this card offers great airfare rewards. It also comes with luxury travel benefits to make every trip more enjoyable.
If you want to feel like a VIP when you travel, this card might be a good fit. Or when you want to get the most redemption value out of the rewards you earn.
However, there is one major disadvantage.
The annual fee for this card is $995.
Our Gold Mastercard test should help you decide if it’s worth it.
Pros and cons of Gold Mastercard
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Air ticket redemption value is high
The advantage of the Gold Mastercard is not the rewards you can get, but the value when redeemed.
Earn one point per dollar on all purchases with this card.
These points are unlimited, so you can earn as many or as few points as you spend.
When it’s time to redeem those points, the card glows.
2% exchange value
When you redeem points for airline tickets, you’ll earn the equivalent of 2% per point.
You will get the same 2% exchange rate when using points for cash back.
For example, let’s say you charge your card $3,000 per month for a total of $36,000 in purchases per year. At a 2% rewards exchange rate, these points will be worth $720 in flight credits or $720 in cash.
This puts MasterCard Gold well ahead of competitors that offer 1% or 1.5% redemption value.
This is especially valuable if you travel a lot and want to save on airfare.
Redeeming rewards is easy. You can apply the award to any airline’s fare, with no blackout dates or restrictions.
If you prefer to redeem it for cash back, you can have the reward credited to your statement or deposited into your bank account.
Is the annual fee worth it?
Gold Mastercard is not cheap. The annual fee is $995, and you pay an additional $295 per authorized user per year.
So is the cost worth it?
The answer depends on how much you spend on the card.
To recoup costs through incentives alone, you’ll need to spend $4,150 per month or $49,800 for the year. Remember, you earn 1 point per $1, but get double the value when redeemed.
Other cards allow you to earn more travel rewards per dollar of purchases at lower fees.
But also consider the value of the other benefits that MasterCard Gold offers.
For example, you can use this card to earn $200 in annual flight credits. There is also a $100 automatic statement credit with Global Entry or TSA PreCheck.
According to the Gold Mastercard website, members receive an average of $500 worth of travel benefits and services per stay.
These benefits include free room upgrades, free food and beverages, and resort or spa credits.
If you’re a frequent spender and your purchases are mostly for travel, this card might be worth paying the annual fee.
On the other hand, if you mostly charge for everyday expenses like groceries or gas, you may need to work harder to recoup your expenses in the form of incentives.
More Card Features and Benefits
As mentioned earlier, MasterCard Gold offers some key travel benefits and notable features:
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- Access to airport lounges with Priority Pass Select
- Luxury card travel benefits such as room upgrades and resort credits
- Assistance for airport meetings and personal representatives
- Get an exclusive experience off the beaten track
- $200 flight credit
- $100 credit for Global Entry or TSA PreCheck
- Enter the luxury card experience
- 24/7 Concierge Service
- Master Travel Travel Support
- Global MasterCard Services.
These benefits can be attractive if you travel a lot and want to travel in style and comfort. Some of these features can save you money and offset annual fees; all of which can make your trip more enjoyable.
You’ll also get benefits like baggage delay insurance and mobile phone protection if your luggage doesn’t make it to its destination.
The card also includes Travel Accident Insurance, Rental Car Collision Waiver Insurance, Trip Cancellation and Interruption Insurance, and a $0 Fraud Liability Guarantee.
Card fee
There are no international transaction fees on this card, which you may like when traveling outside the United States.
That being said, the biggest cost is the annual fee. When you add authorized users to your account, you need to consider the cost.
For example, instead of spending $4,150 a month to get back, you have to spend $5,378 a month to get back for yourself and authorized users.
Compared to other travel rewards cards
Gold Mastercard isn’t the only premium travel rewards card to consider. Here are three more cards that might catch your attention.
MasterCard Black Card
The Black Mastercard is a luxury credit card that is very similar to the Gold card with some differences.
For example, with this card, you still earn one point for every dollar you buy. When you redeem these points for a flight, you’ll receive a 2% redemption rate. However, when you redeem your points for cash back, your redemption rate drops to 1.5%.
This card also offers many of the same travel benefits, including Priority Pass Select access and airfare credits. But the loan is worth $100 instead of $200.
As far as the annual fee is concerned, it’s roughly halved to $495. Licensed users are charged an additional $195 per year.
SEE ALSO!
- American Express Centurion Black Card Review
- X1 Credit Card – Check how to apply.
- Destiny Credit Card – How to order online.
- Delta Skymiles® Reserve American Express Card Review – See more.
- American Express focuses on customer experience with new checking account and redesigned application
Chase Sapphire Reserve
It offers better rewards rates than Mastercard Gold. With this card, you earn 3 points per $1 on travel and dining and 1 point per $1 on everything else.
Receive an additional 50% of the redemption value when redeeming travel points through Chase Ultimate Rewards. So the total amortization rate is 1.5%. That’s less than Mastercard Gold, but you can make up for it with $300 a year in travel credit.
This card also comes with a generous introductory welcome bonus, allowing you to collect most of your points in no time. You must meet the minimum spending requirements to be eligible.
As for the annual fee, you pay $550 per year for the Sapphire Reserve Card. The annual fee for authorized users is $75 per person.
American Express Platinum
*See prices and fees. Conditions apply.
It’s a solid option for earning points for flights and hotel stays.
With this card, you can earn 5 Membership Rewards points for every $1 you spend on flights booked directly with the airline or on American Express travel. You can also earn 5 points per dollar on prepaid hotels booked through amextravel.com.
Card benefits include:
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- $200 Uber Cash
- $240 in digital entertainment credit
- $100 Global Entry or $85 TSA PreCheck Fee Credit
- $200 hotel credit on prepaid Fine Hotels + Resorts or The Hotel Collection reservations made through American Express Travel (requires a minimum two-night stay for The Hotel Collection reservations)
- Access to Global Lounge Collection
- $200 flight credit
- $179 Clear Credit
- Boutique Hotel and Resort Program
- Hotel series
- Marriott Bonvoy Gold Elite Statu
- Hilton Honors Gold Status.
What is the verdict?
Mastercard Gold is worth considering for its high 2% redemption rate, which sets it apart from rival cards.
While the rewards rates you get with the card aren’t exciting, those points can be boosted even further when you redeem them for airline tickets or cash back.
nature:
The annual fee for this card cannot be ignored.
As shown by the other three cards mentioned here, travel rewards cards can be found that combine a generous rewards program with a slightly lower annual fee.
Whether you should apply for Gold Mastercard depends largely on how often you spend your money and how often you plan to redeem your flight awards.
This card offers some nice perks that add to its overall value, but only if you plan to use it to book travel on a regular basis.
SEE ALSO!
- American Express Centurion Black Card Review
- X1 Credit Card – Check how to apply.
- Destiny Credit Card – How to order online.
- Delta Skymiles® Reserve American Express Card Review – See more.
- American Express focuses on customer experience with new checking account and redesigned application
