Best Gold Card

May 25th, 2010

Gold cards are a prestige symbol as much as anything else. The best gold cards also provide useful extra benefits on top of regular cards. We take a look at what differentiates the best gold card from the mere mortals.

If you can contemplate the option of owning a Gold credit card then you are in an enviable position. Compared to the majority of credit card users, you would be placed at a higher status level immediately. Gold credit cards provide a host of extra benefits on top of normal credit cards, and project a symbol of prestige as well. For the lucky few who can afford the higher costs and income requirements, a gold card does make a difference. There are a number of gold card offers in the market, so be prepared before you go card hunting. Our brief guide on the best gold cards that are out there right now will help you select the best gold card for your needs.

How is a gold card different?

The following list of points clearly delineates the differences between gold cards and regular cards. Not all gold cards offer all these extra benefits though, but you can expect most (if not all) of them to be present in the best gold card:

• Rewards scheme – gold cards typically involve a rewards scheme which is wider in scope than others. There are greater opportunities for gathering reward points, and those points can be redeemed for a bigger range of goods and services. Often there will be reward partners who provide bonus points or some extra discount on their products for these gold card users.
• Expanded credit limit – the best gold cards have a very high credit limit, so that cardholders have more shopping potential. Card issuers consider these customers to be of very little credit risk, hence they are willing to extend very generous levels of credit. They also have the incentive of charging high interest rates on any outstanding balance. A greater credit limit increases the chances of larger interest payments.
• Complimentary insurance – this is what separates the best gold card from the rest. All of these prestige cards offer additional insurance cover for free, but the number of complimentary insurance policies is what sets them apart from each other. A high end gold card will at least offer these covers: purchase protection insurance, travel insurance, and extended manufacturer warranty.

Apart from the above features gold cardholders also enjoy extra service priority and numerous smaller benefits. The best gold cards, while difficult to obtain, are very much worth the extra effort and cost.

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