Mastercard Gold Card review: Beware of fool's gold
Mastercard® Gold Card™ overview
The Mastercard® Gold Card™ is a unique credit card made with 24-karat gold that aims to compete with other premium cards. Cardmembers receive standard premium perks like an airline credit and Priority Pass access. Still, the card offers no standout perks that would easily justify its astronomical $995 annual fee — the highest among its competitors. Card rating*: ⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
From the same issuer who brought us the Mastercard® Black Card™, there's an even more expensive metal card made with 24-karat gold. Capitalizing on the metal card trend, the Mastercard Gold Card seeks to wow cardmembers, but do the card's benefits justify paying nearly $1,000 a year for the annual fee?
The Mastercard Gold Card requires a credit score of at least 740 and offers very few benefits for a steep $995 annual fee.
Today, we will explore the Mastercard Gold Card in depth to see what you get for this high annual fee, how it compares to other premium cards and if this card should have a place in your wallet.
The information for the Mastercard Gold and Mastercard Black has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: Why you may not want a metal credit card
Mastercard Gold Card pros and cons
| Pros | Cons |
|---|---|
|
|
Mastercard Gold Card welcome offer
The Mastercard Gold Card disappoints right away by not offering a welcome bonus to new cardmembers.
This is just the start of the drawbacks of this card, as consumers looking to open a new credit card often look at high welcome bonus offers to help them jump-start their rewards, especially when it comes to premium cards geared toward travel.
In the past, the Mastercard Gold Card offered a welcome bonus of 50,000 points. Since these points are worth 2 cents each, this bonus would be worth $1,000. Even if you could get this bonus, its value is lackluster compared to what cardmembers receive from the welcome bonus on other premium cards.
Related: The best welcome offers this month
Mastercard Gold Card benefits
The Mastercard Gold Card provides a few benefits that can help cardmembers but do not come near recouping the ridiculous annual fee.
The card's most valuable benefit is an annual $200 air travel credit. This flexible credit can be used toward airline tickets, bag fees, upgrades and other incidentals charged by the airline. A perk of this benefit is that you don't need to select an airline from a list of eligible carriers, a restriction that can be frustrating for those using a similar benefit on The Platinum Card® from American Express.
Typical of premium travel credit cards, the Gold Card also provides up to $120 in credit for a Global Entry or TSA Precheck application fee. It also includes a Priority Pass Select membership, giving cardholders access to over 1,500 lounges worldwide.
With the card, you'll also get various travel protections, including trip cancellation and interruption insurance. Cardholders also receive some benefits unique to Mastercard, such as invitation-only experiences to Priceless Golf and various subscription discounts.
Given the card's $995 annual fee, this benefits list is remarkably underwhelming. You'll get similar travel protections but far more valuable credits and comprehensive airport lounge access by choosing the Amex Platinum with its $895 annual fee (see rates and fees), the Chase Sapphire Reserve® with its $795 annual fee (see rates and fees) or the Capital One Venture X Rewards Credit Card with its $395 annual fee instead — and save at least $100 in annual fees each year.
Related: Are premium credit cards worth the annual fee?
Earning rewards on the Mastercard Gold Card
Despite being marketed as a premium product, the Mastercard Gold Card barely meets the standard for earning rates on the most basic cash-back rewards card. Cardmembers earn just 1 point per dollar spent, with no bonus categories on purchases.
The only somewhat redeeming factor in these rates is that each point is worth 2 cents each, giving you a 2% return on all purchases.
If you like the idea of a 2% return on all your purchases:1% when you buy and 1% when you pay, you could go with the Citi Double Cash® Card (see rates and fees) instead and earn cash back at the same rate for no annual fee.
But if you're considering getting this card for its premium travel perks, you'd be better off with one of our other favorite travel rewards cards, all of which earn bonus rewards on travel purchases.
Related: The best rewards credit cards for each bonus category
Redeeming rewards on the Mastercard Gold Card
Mastercard Gold Card rewards can be redeemed for cash back or airfare. You can redeem your points for airfare at a rate of 2 cents per point when you go to myluxurycard.com or call customer service to book.
If you want to redeem your points for cash back, you can get your cash either as a statement credit or deposited directly into a U.S. bank account. You'll get the same 2-cent-per-point rate with this redemption method.
The option to get 2 cents per point when redeeming for airfare may sound appealing, especially when looking at competitors such as the Chase Sapphire Reserve, which also offers up to 2 cents per point, depending on the specific redemption when booking through the Chase Ultimate Rewards Travel portal (see your rewards program agreement for full details).
However, the Sapphire Reserve earns 8 points per dollar spent on purchases through Chase Travel℠, 4 points per dollar spent on flights and hotels booked direct and 3 points per dollar on dining purchases to the Gold Card's measly 1 point per dollar on all purchase.
The uselessness of the Gold Card continues in the footsteps of its cheaper sibling, the Mastercard Black Card, by not offering the ability to transfer rewards to an airline or hotel partner. I'm a huge fan of finding redemption sweet spots to maximize my points and miles, so I can't imagine paying a premium annual fee for a card that doesn't give me this option.
Related: How and why to earn transferable points
Which cards compete with the Mastercard Gold Card?
The absurd annual fee and lack of proper benefits to match such a price make the Mastercard Gold Card easy to beat. Several cards offer a lower annual fee and so many benefits that you recoup it.
- If you want a card that's gold: The American Express® Gold Card is a metal card that comes in your choice of gold or rose gold but with a much lower annual fee of $325 (see rates and fees). The card comes with several annual credits and offers an impressive 4 points per dollar at restaurants worldwide (on up to $50,000 in purchases per calendar year, then 1 point per dollar) and on groceries at U.S. supermarkets (up to $25,000 annual spending limit per calendar year, then 1 point per dollar). Enrollment is required for select benefits. For more information, read our full review of the American Express Gold Card.
- If you want an airline credit: The Platinum Card from American Express offers 5 points per dollar spent for airfare booked directly with an airline or through American Express Travel® (on up to $500,000 on these purchases per calendar year, then 1 point per dollar) and 1 point per dollar on all other purchases. The card also comes with an assortment of various statement credits annually, including an airline fee statement credit of up to $200 and carries a $895 annual fee. For more information, read our full review of the Amex Platinum.
- If you want better earning rates: The Chase Sapphire Reserve earns 8 points per dollar spent on purchases through Chase Travel℠, 4 points per dollar spent on flights and hotels booked direct and 3 points per dollar on dining purchases. It also comes with a $300 travel credit and access to Priority Pass and Chase lounges for a $795 annual fee. For more information, read our full review of the Sapphire Reserve.
For additional options, see our full list of the best travel credit cards.
Related: A side-by-side comparison of the best premium credit cards
Is the Mastercard Gold Card worth it?
The Mastercard Gold Card is even less worth it than its sibling, the Black Card. The lack of a welcome bonus, embarrassingly low earning rates and lackluster benefits should be enough to keep you away from this card and avoid a useless hard inquiry on your credit report. Unless the Gold Card receives a massive overhaul to become a proper credit card, I wouldn't recommend this card to anyone.
Bottom line
If you're looking for a metal credit card to make a statement every time you make a purchase, there are plenty of better options available — with lower annual fees, valuable benefits and more redemption options. While this shiny card may seem appealing on the surface, avoid it at all costs (and especially this one). Do yourself a favor and put that $995 toward a vacation or, at the very least, purchase actual gold instead.
Related: The best metal credit cards
For rates and fees of the Amex Gold Card, click here.
For rates and fees of the Amex Platinum card, click here.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.