Mastercard® Gold Card™ Review

By: Heather Hanks Jul. 17, 2019

Using a personal card for business can be a great choice, especially if you want to float your business spend and get additional cash back on every purchase. The Mastercard® Gold Card™ is the best of the best. How do we know? For starters, it’s made of real 24K gold and stainless steel for money-saving power that you can feel. The Mastercard Gold Card is the only elite credit card that has viable options for both cash back redemption and airline redemption. The Mastercard® Gold Card™ also makes it easy to collect points. You’ll get one point for every dollar you spend on your card. Plus, there is no limit to how many points you can earn and your points never expire!

These points can be redeemed in a variety of different ways. The card also provides a host of various benefits to thank you for your business, such as a $200 annual airline credit and $100 Global Entry or TSA Precheck credit. But with a hefty annual fee, the Mastercard® Gold Card™ is reserved for all types of high net worth individuals, not just travelers. To find out if the Mastercard® Gold Card™ is right for you, check out our Mastercard® Gold Card™ review here.

Mastercard® Gold Card™

Overall Rating

What is the Mastercard® Gold Card™?

The Mastercard® Gold Card™ is one of three premium metal credit cards in the Luxury Card portfolio. The global company focuses on superior quality services and technology to deliver world-class premium cards. Each of their three luxury cards offers a distinctive design and purpose. Luxury Cards prides themselves as having superior services that you can access 24/7, including a direct access to elite cardmember care specialists. They are standing by to meet your account needs. The company also offers Luxury Card Concierge, which is a 24/7 complimentary service that can source hard-to-find gifts, make dining reservations, or book a trip for you and your family (for example).. Cardmember Care handles the day-to-day account questions.The service consists of professionals designed to meet your every requirement from your card. This amazing cash back rewards rate mean that you aren't forced to only redeem for travel. Since the card is competitive across categories, it can truly be your one and only everyday card. It helps that it's accepted almost everywhere, too. Using the Gold Card as your everyday go-to means you can save valuable time, energy and attention by only having to manage one card and monthly statement.

Luxury Cards uses top of the line technology to provide cardholders with the best rewards for travel, dining, car rentals and other accommodations. You can use your Luxury Card App to access your online information. The company’s rates speak for themselves. As a Mastercard® Gold Card™ holder, you’ll enjoy 2% each airfare and cash back redemption rates. You’ll also earn one point for every dollar you spend on your card. These points can be redeemed for hotels, car rentals, gift cards and more. There are no blackout dates, seat restrictions or limits to how many points you can earn.

Here are some key highlights of the Mastercard® Gold Card™ from Luxury Cards:

  • Card Made From 24K Gold and Stainless Steel Weighting in at 22 Grams
  • 2% Value For Airfare And Cashback Redemptions
  • 24/7 Luxury Card Concierge™ Accessible By Phone, Email, And Mobile Chat
  • Annual Fee of $995 And $295 For Authorized Users
  • Extensive Luxury Card Travel Benefits (highlighted below)
  • $200 Annual Airline Credit Toward Qualifying Purchases
  • Mastercard World Elite benefits
  • $100 Global Entry Application Fee Credit
  • Access to airport lounges through the Priority Pass Select program; you and your guests have free membership to over 1,200 lounges worldwide.

What Do You Get with Mastercard® Gold Card™?

The Mastercard Gold Card is designed exclusively for those who want the most back from their travel experiences. As a cardholder, you'll get an average of $500 worth of benefits and services at over 3,000 properties around the world through the Luxury Card Travel® program. These benefits include free food and drinks, room upgrades, welcome amenities, and resort or spa credits. You’ll also get access to over 1,200 airport lounges with your Select membership. Priority Pass membership has no limit of number of guests and has unlimited visits. Most are limited to only two guest and/or they must be related. The priority pass membership also includes the 28 restaurant lounges. On the other hand, members receive approximately $28 per person off the bill.

The card was created for small business owners who travel a lot and want to get the most out of their purchases. All of your purchases on your Mastercard Gold Card are covered so you can travel with confidence. You can use your card at over eight million domestic retailers in over 120 countries. You’ll get one point for every dollar you spend using your card. Plus, there are no limits on how many points you can earn.

You’ll need to make sure your account is in good standing to receive the following benefits:

  • Earn points every time you use your card (one point per dollar spent)
  • Redeem these points at a rate of 2% for cashback and airfare each
  • You can redeem your points for statement credit at a rate of 2% (5,000 points equals $100 in statement credit)
  • You’ll receive $200 in annual airline credit for being a card holder that can be used on food, airfare, baggage fees, and more
  • Automatic membership in the Luxury Gift program
  • You’ll get Global Entry & TSA Pre✓® Application Credit. With Global Entry, enjoy expedited arrival into the United States from international destinations. Global Entry members are eligible to participate in TSA Pre✓®, an expedited domestic security screening at participating airports in the United States.
  • Exclusive amenities such as free food and drinks, spa and resort credit, and room upgrades at over 3,000 partner properties through Luxury Card Travel.
  • 24/7 access to Luxury Card concierge that can be accessed through chat, phone or email
  • Enjoy a members only Luxury Card Magazine

All Luxury Card products are part of the Mastercard World Elite network, Mastercard’s highest benefits level. New World Elite benefits include exclusive discounts from Lyft, Fandango, Boxed, Postmates, Shoprunner and OnefineStay:

Lyft

Enroll and take 5 eligible rides in a month using your Luxury Card and get a $10 Lyft credit. Keep riding to earn credit month after month.

Boxed

Boxed makes shopping for bulk items easy and convenient. Create a Boxed account and use your Luxury Card to earn 5% cash rewards on eligible Boxed orders for use on future purchases.

Postmates

Postmates provides on-demand delivery from over 200,000 restaurants and stores across the United States. Receive $5 off eligible purchases of $25 or more when you use your eligible Luxury Card to order through Postmates.

ShopRunner

Receive free 2-day shipping and free return shipping on eligible purchases when you sign up for a free ShopRunner membership with your Luxury Card.

Onefinestay

Onefinestay provides access to over 10,000 high-end rental homes around the world. The local guest services team welcomes you at the home and is available 24/7. Each home is stocked with high quality sheets, towels and toiletries. Cardholders receive a 10% discount on all onefinestay bookings. You will also receive free Wifi and a complimentary iPhone, with free local calls and data, to use during your stay.”

Fandango

Use your Luxury Card World Elite Mastercard to purchase movie tickets through Fandango and earn up to 500 Fandango VIP + points, to be redeemed for $5 in Fandango movie tickets.

How Does Mastercard® Gold Card™ Work?

Your card allows you to earn points each time you use it. You can redeem your points at a rate of 2% by visiting myluxurycard.com. You can also call the customer service number located on the back of your Mastercard Gold Card. This will connect you to a customer care representative. This means that if you have 50,000 points, you will have $1,000 in airline redemptions. You can use your points on part or all of your airfare. You will need at least 50 points to redeem airfare.

Your points can also be redeemed for a statement credit of a redemption rate of 2%. So if you have 5,000 points, you can redeem these for $100 to be put toward your statement credit. Mastercard Gold Card members receive up to $200 in annual air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more. For your convenience, Luxury Card automatically applies the credit to your account. You can redeem this credit for baggage fees, food, incidentals, and airfare.

Here is the pricing breakdown of the Mastercard® Gold Card™:

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) your APR will be 16.49%. This APR will vary with the market based on the Prime Rate.

Ongoing balance transfer duration or balance transfers that do not post within the first 45 days are subject to a 16.49% APR (this will vary on the Prime Rate)

Ongoing balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is more

Ongoing purchase APR rate of 16.49%

Annual card fee of $995

Authorized user fee of $295 per user

Foreign transaction fee of 0% for each transaction in U.S. dollars

Cash advance fee of $10 or 5% of the amount of each cash advance, whichever is more

Cash advance APR of 26.74% (will vary based on the Prime Rate)

The Mastercard® Gold Card™ allows you to cash in on the money you already spend traveling. They have the best rates among other cards in its class, especially when it comes to cash back value. The Mastercard® Gold Card™ gives you 2% back while the Chase Sapphire Card, Citi Prestige Card, and the American Express Platinum Card only offer 1%. The Mastercard® Gold Card™ also gives you 2% back on airfare redemption. This is compared to the 1.5% from the Chase Sapphire Card and 1% from the American Express Platinum Card and the Citi Prestige Card.

Mastercard® Gold Card™ Review: Pros and Cons

Like any card, there are pros and cons of the Mastercard Gold Card. The biggest complaint that most people have is a hefty annual fee. Keep in mind that you’re getting 2% back with the Mastercard Gold Card and other cards only offer 1%. This means that you’re more likely to make your money back quickly if you travel often. Anyone who travels enough knows that it’s easy to overspend on your travel adventures. That’s why it’s important to find a card that gives back as much as possible. The Mastercard Gold Card does exactly that.

Mastercard® Gold Card™ PROS

  • Unique 24K-gold-plated stainless steel front and carbon back
  • 2% value cash back and airfare redemption (this is almost twice as much as other cards)
  • Earning points is easy and you’ll get a point for every dollar you spend
  • Points can be redeemed for statement credit, airfare, hotels, baggage fees, car rentals, dining and more
  • You’ll earn exclusive cardholder amenities, such as room upgrades, free food and drinks, spa and resort credit, and more
  • There is no limit to the amount of points you can earn as long as your account is in good standing (no late payments, your account is active, etc.)
  • You can redeem 5,000 points for $100 in statement credit
  • You’ll get $200 in annual airline credit that can be applied to your baggage costs, food, and other travel expenses (not just airfare)
  • Luxury Card members receive a one hundred dollar ($100) automatic statement credit for the cost of the Global Entry & TSA Pre✓® Application Credit.
  • Receive access to Luxury Card concierge 24/7 through email, chat or phone
  • Use your online portal anytime of day or night to access your account
  • You will automatically be enrolled in the Luxury Card gift program just by becoming a member
  • You’ll have access to the Luxury Card members only magazine
  • There is no foreign transaction fee for US currency
  • Your card can be used to gain access to over 1,200 airport lounges all over the world with Priority Pass™ Select
  • With Global Entry, enjoy expedited arrival into the United States from international destinations. Global Entry members are eligible to participate in TSA Pre✓®, an expedited domestic security screening at participating airports in the United States.

Mastercard® Gold Card™ CONS

  • The fees associated with the Mastercard Gold Card can be high. Most notable is the annual fee of $995 with an ongoing APR of 16.74%. Keep in mind that you’re getting 2% back with your rewards program. Most people find that this is well worth the money spent on an annual fee!
  • APR rates can be high and there is a fee for transfers and cash advance, but this is standard with most cards. Keep in mind that the APR is highly influenced by the Prime Rate, which means it will be high no matter what card you use! The best thing you can do is invest in a card that gives you the most back. The Mastercard Gold Card does that.

How To Apply Mastercard® Gold Card™

Luxury Card makes the application process simple and painless. They make sure you’re aware of all fees and perks up front. Keep in mind that having a good credit score and history will help you get accepted. To apply, go to the website and click on the Apply Now button. You’ll be taken to a page that highlights some of the key features of the card. These include:

  • $995 annual fee and $295 for authorized users
  • 24K gold plated design
  • Luxury Card Rewards Program with many benefits
  • 2% value for airfare and cashback redemption
  • 16.49% APR
  • Luxury Card magazine for members only
  • 24/7 concierge service available by phone, email or chat

The application requires you to fill out the following information:

Your first name

Permanent address

Time at permanent address

Employment and financial information

Occupation

Total gross income

Contact information such as phone number and email address

Security information including mothers maiden name, social security number

Ready to Apply?

Apply for the Mastercard® Gold Card™ now and get a response in 60 seconds

Mastercard® Gold Card™

Disclaimer

CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.

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