Gold Mastercard

[Anonymous]

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.

[redpat]

The card is crap, IMO.

Not even close to Amex plat or CSR.

[wasCB14]

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@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.

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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.

[Anonymous]

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. 

[Anonymous]

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@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. 

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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.

[Anonymous]

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@Anonymous wrote:

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@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. 

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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.

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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. 

[Anonymous]

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 

[wasCB14]

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@Anonymous wrote:

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@Anonymous wrote:

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@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. 

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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.

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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. 

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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.

[Anonymous]

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@wasCB14 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@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. 

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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.

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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. 

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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.

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Like Tesla. Good point. 

[CreditMagic7]

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.