topic Re: Gold Mastercard in Credit Cards

Gold Mastercard

Anonymous — Sat, 21 Jan 2017 20:26:24 GMT

Anyone hear of these? Got an offer thst just said 'Luxery Card' on the envelope with no other branding.. Says it is 24k gold and has a $995 annual fee! Otherwise looks comparable in benefits to a CSR or AMEX Platinum for double the annual fee. Do people actually use these or are they just some type of status symbol? Would think they'd be a bit more exlusive.. my FICO's are 730-760 depending who you ask.. good, but hardly elite.

Re: Gold Mastercard

redpat — Sat, 21 Jan 2017 20:29:50 GMT

The card is crap, IMO.

Not even close to Amex plat or CSR.

Re: Gold Mastercard

wasCB14 — Sat, 21 Jan 2017 21:56:42 GMT

@Anonymous wrote:
Anyone hear of these? Got an offer thst just said 'Luxery Card' on the envelope with no other branding.. Says it is 24k gold and has a $995 annual fee! Otherwise looks comparable in benefits to a CSR or AMEX Platinum for double the annual fee. Do people actually use these or are they just some type of status symbol? Would think they'd be a bit more exlusive.. my FICO's are 730-760 depending who you ask.. good, but hardly elite.

It's a status symbol targeting people who don't know any better. It looks flashy, but the benefits/rewards/customer service don't rival CSR/Platinum/Prestige. Lots of savvy people can debate the relative value of those three good cards, but most will agree Barclaycard's premium offerings are far inferior.

You don't need particularly "elite" credit or income. I think they aren't really going for big spenders..at least not the savvy ones...but instead unsophisticated people who will mistake it for being "elite".

*A notable exception should be made for people who call and are able to get the annual fee waived each year. The card becomes quite attractive with no annual fee.

Re: Gold Mastercard

Anonymous — Sat, 21 Jan 2017 22:37:03 GMT

Yeah...its issued by Barclay's Bank Delaware...nothing status-ie about that. If you remember the Visa Black card that Barclay's used to offer, they stated that the card was so exlcusive that only 1% of the population had one...yet anybody could apply and they sent out mailers all the time. The Black card was such a well known gimmick they scraped it and brought it back as The Luxury Card, now as a World Elite MasterCard and they brought the Gold Card to prop it up as a wing man. There may be some good benefits with the card but overall it is meh.

Re: Gold Mastercard

Anonymous — Sat, 21 Jan 2017 23:06:32 GMT

@Anonymous wrote:
Yeah...its issued by Barclay's Bank Delaware...nothing status-ie about that. If you remember the Visa Black card that Barclay's used to offer, they stated that the card was so exlcusive that only 1% of the population had one...yet anybody could apply and they sent out mailers all the time. The Black card was such a well known gimmick they scraped it and brought it back as The Luxury Card, now as a World Elite MasterCard and they brought the Gold Card to prop it up as a wing man. There may be some good benefits with the card but overall it is meh.

I'm not entirely sure the Gold Card or Luxury Card or whatever they're calling this one is better than the Citi DoubleCash, let alone the likes of CSR and Amex Plat. Even if it were on par with CSR and Amex Plat, the annual fee is more than double what those two cards are asking, and without the expanded rewards system.

Re: Gold Mastercard

Anonymous — Sat, 21 Jan 2017 23:09:56 GMT

@Anonymous wrote:
@Anonymous wrote:
Yeah...its issued by Barclay's Bank Delaware...nothing status-ie about that. If you remember the Visa Black card that Barclay's used to offer, they stated that the card was so exlcusive that only 1% of the population had one...yet anybody could apply and they sent out mailers all the time. The Black card was such a well known gimmick they scraped it and brought it back as The Luxury Card, now as a World Elite MasterCard and they brought the Gold Card to prop it up as a wing man. There may be some good benefits with the card but overall it is meh.
I'm not entirely sure the Gold Card or Luxury Card or whatever they're calling this one is better than the Citi DoubleCash, let alone the likes of CSR and Amex Plat. Even if it were on par with CSR and Amex Plat, the annual fee is more than double what those two cards are asking, and without the expanded rewards system.

Oh I agree with you. I want to post what I really think of these cards but I don't want to offend anybody that may have one. The fact that Chase didn't need any marketing for the new CSR and that Barclay's needs to market these cards says a lot about the difference.

Re: Gold Mastercard

Anonymous — Sat, 21 Jan 2017 23:20:08 GMT

Its pretty much trash IMO lol. I can pay a company to make me a custom metal credit card with whatever I want on it for less. I have one and it is probably one of the best investments I have ever made highly reccomend

Re: Gold Mastercard

wasCB14 — Sat, 21 Jan 2017 23:29:20 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Yeah...its issued by Barclay's Bank Delaware...nothing status-ie about that. If you remember the Visa Black card that Barclay's used to offer, they stated that the card was so exlcusive that only 1% of the population had one...yet anybody could apply and they sent out mailers all the time. The Black card was such a well known gimmick they scraped it and brought it back as The Luxury Card, now as a World Elite MasterCard and they brought the Gold Card to prop it up as a wing man. There may be some good benefits with the card but overall it is meh.
I'm not entirely sure the Gold Card or Luxury Card or whatever they're calling this one is better than the Citi DoubleCash, let alone the likes of CSR and Amex Plat. Even if it were on par with CSR and Amex Plat, the annual fee is more than double what those two cards are asking, and without the expanded rewards system.
Oh I agree with you. I want to post what I really think of these cards but I don't want to offend anybody that may have one. The fact that Chase didn't need any marketing for the new CSR and that Barclay's needs to market these cards says a lot about the difference.

There may be some sense in Barclaycard's business model, though. CSR is hugely popular, but largely in circles of card geeks...people who remember bonus categories, use perks, and often cancel when a card is nerfed. Chase loses money up front and hopes to make it back over time.

Barclaycard, in going for a less-sophisticated image-focused crowd, makes money from getting a big AF up front and not paying an intro bonus. Having high margins with only a small market share can sometimes be the way to go.

Re: Gold Mastercard

Anonymous — Sat, 21 Jan 2017 23:35:58 GMT

@wasCB14 wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Yeah...its issued by Barclay's Bank Delaware...nothing status-ie about that. If you remember the Visa Black card that Barclay's used to offer, they stated that the card was so exlcusive that only 1% of the population had one...yet anybody could apply and they sent out mailers all the time. The Black card was such a well known gimmick they scraped it and brought it back as The Luxury Card, now as a World Elite MasterCard and they brought the Gold Card to prop it up as a wing man. There may be some good benefits with the card but overall it is meh.
I'm not entirely sure the Gold Card or Luxury Card or whatever they're calling this one is better than the Citi DoubleCash, let alone the likes of CSR and Amex Plat. Even if it were on par with CSR and Amex Plat, the annual fee is more than double what those two cards are asking, and without the expanded rewards system.
Oh I agree with you. I want to post what I really think of these cards but I don't want to offend anybody that may have one. The fact that Chase didn't need any marketing for the new CSR and that Barclay's needs to market these cards says a lot about the difference.
There may be some sense in Barclaycard's business model, though. CSR is hugely popular, but largely in circles of card geeks...people who remember bonus categories, use perks, and often cancel when a card is nerfed. Chase loses money up front and hopes to make it back over time.

Barclaycard, in going for a less-sophisticated image-focused crowd, makes money from getting a big AF up front and not paying an intro bonus. Having high margins with only a small market share can sometimes be the way to go.

Like Tesla. Good point.

Re: Gold Mastercard

CreditMagic7 — Sun, 22 Jan 2017 00:07:40 GMT

Ah yes, the infamous aa king of the chop block routine to it's card customers.

No wonder it went straight to the can today after uncovering the contents of the envelope.

Re: Gold Mastercard

Anonymous — Sun, 22 Jan 2017 00:09:59 GMT

Crap IMO. It's just for people that only care about the looks and feel of a card. Don't get me wrong, I love the metal, but not for $995 AF and crappy benefits.

Re: Gold Mastercard

Anonymous — Sun, 22 Jan 2017 00:14:01 GMT

These cards are bullocks.

Re: Gold Mastercard

UncleB — Sun, 22 Jan 2017 00:18:22 GMT

Good points here so far... I'll only add that the Barclay high AF cards used to be popular in the military community due to getting the AF waived, but I don't think Barclay is as generous with that now as they once were. (I've read that SCRA AF waivers for new cardholders was shut down back in 11/2016, but I'm not sure about existing cardholders as of today.)

Without the AF waiver this card will make good financial sense to very, very few people.

Re: Gold Mastercard

beastykato — Sun, 22 Jan 2017 01:33:28 GMT

I just got this offer in the mail the other day as well. I thought it was a scam to be honest. It has no name on it except gold card or whatever it was. It doesnt excude a luxury feel and there wasnt a good explanation of benefits.

It looks generic. I might be real gold and heavy, but that's about it. If I could somehow get out of the annual fee (military doesn't have to pay the fee) I'd get the card and continually lose it until I could melt enough gold to make a small piece of jewelry.

Re: Gold Mastercard

Hillbill — Sun, 22 Jan 2017 15:42:14 GMT

I have an idiot friend who has this exact card. now in a day where we "swipe" virtually every transaction, except one, restaurants. He will admit he uses it only for the waitresses to compliment him so he can start a conversation, brag a little, which hopefully leads the girl back to his smush room.
He's a trust fund baby so why even care about points, cash back, miles etc. Anywho he always pays for the dinner and if the girls are that gullible, so be it.

Re: Gold Mastercard

Anonymous — Sun, 22 Jan 2017 15:48:09 GMT

Wish I had a friend who was a trust fund baby.. Would love someone to pay for my dinner

Re: Gold Mastercard

awp317 — Sun, 22 Jan 2017 22:02:26 GMT

I have the black card verison of this. Still 495 annual fee, and I will admit Its purley for sh@! and giggles. I knew it was crap when I applied for it. Its kinda fun to throw it down on the bar at a night club or hand to the starbucks birista and get some oohs and ahhas. I dont use it very often but it def gets a little attention when I do. 500 bucks a year is worth it to me for the little fun it brings. My company has been offered the AMEX black and honestly I think that card is also just a status symble and I figure why not just spend 500 than 7500 a year.

Re: Gold Mastercard

adelphi_sky — Mon, 23 Jan 2017 21:44:10 GMT

I had the Black Card back when it was just carbon fiber. I agree that the benefits aren't worth the $495 fee. I think my wife got one hotel room upgrade when she put the card on the desk, but that's it. We got the "luxury" gifts every quarter. The first was a pair of cross pens, the second was a pair of Ray Ban sunglasses, the third was a baseball cap. Real luxury. oooooooooh. I got rid of the card before the second annual fee hit.

The only real benefit is the Priority Pass lounge membership. But of course, other cards offer that and a lot more.

As far as getting responses, I had one response from a teen at the movie theater. lol Now, My Citi Thank You preferred card with the LED lights got the most attention. But I'm glad Citi got rid of that card. Seemed too much like a gimmick.

Re: Gold Mastercard

fltireguy — Mon, 23 Jan 2017 21:50:23 GMT

@CreditMagic7 wrote:
Ah yes, the infamous aa king of the chop block routine to it's card customers.

No wonder it went straight to the can today after uncovering the contents of the envelope.

CM7 - Yup. Barclays. Gotta be an awesome feeling to pay that $1K AF and then have them CLD you down to $500 because they got pissed at you for apping for a REAL premium card..

Re: Gold Mastercard

Anonymous — Mon, 23 Jan 2017 22:52:30 GMT

@Anonymous wrote:
Wish I had a friend who was a trust fund baby.. Would love someone to pay for my dinner

Why not PM Hillbill and see if something can be arranged!