Gold credit cards

What are gold credit cards?

Gold credit cards are meant to be a step up from standard credit cards and typically offer more perks, rewards and higher maximum credit limits.

These days there aren't many gold cards left on the market. Most card providers have developed a broader range of cards and there's not an easy way to distinguish them.

What kind of card do you need?

• Basic, cheap cards. Look at low rate or no annual fee credit cards if you just want a simple, cheap credit card with no frills. Low rate cards are good if you can't pay off your spending in full. No annual fee cards save you money on fees but can have higher rates.
• Premium rewards cards. The most similar cards to gold cards are high-end rewards cards. These give you rewards points from the bank or card rewards program and have higher annual fees ($200–$500). Look at cards with premium, platinum, black or premier in the name. But there's a big difference between most of these cards, so always look closely at the points, perks and card benefits and weigh them against the annual fee.

Do gold credit cards still exist?

Yes, according to the Finder database there are currently 5 gold credit cards on the market, including personal, business and corporate cards.

Some gold-level credit cards also have other names. For example, the Qantas American Express Premium Card has gold artwork on the card but doesn't include the word in its name.

While many gold card options have been replaced with platinum cards, you can still get a gold credit card if you want one. As with any credit card, you'll just need to weigh up the features and costs to decide if it is worth it.

Our expert says: Out with the gold, in with the new

"There just aren't many gold cards left on the market. The few still around are mainly business credit cards with relatively low annual fees and no bonus points offers. Although the American Express Gold Business Card has a higher annual fee and offers a lot more rewards. It's a good idea to look at other rewards credit cards when comparing. "

Richard Whitten

Money Editor

How to compare gold credit cards

As with any card, the value you get from gold credit card benefits should be worth more than the costs associated with it. Here are the key details to keep in mind:

Rewards

• Bonus points offers. You can boost your reward points balance by getting a gold credit card that offers bonus points to new customers. Look at both the points offered and the requirements to get them to find a good gold card option for you.
• Rewards program and earn rates. Reward and frequent flyer programs vary between gold credit card options. There are also different point rates depending on the type of card, with American Express cards usually earning the highest amount of points per $1.
• Uncapped/capped rewards points earnings. A points cap limits how many rewards you can earn in a month or year, but doesn’t always affect cardholders. You can work out if a capped or uncapped reward card is right for you by looking at your average monthly credit card spending and comparing it to the points you would earn; if you spend less than the cap then it should be fine.

Rates and fees

• Interest rates. Gold credit card interest rates typically range from 11.8% p.a. to 23.99% p.a. for purchases. Some gold cards also offer a low or 0% interest rate for an introductory period, which can help you save on interest when you first get the card.
• Interest-free period. Most gold credit cards offer up to a set number of interest-free days for purchases you make during each statement period (e.g. each month). You can typically make use of this interest-free period if you pay off the total balance by the due date on each statement. Otherwise, you'll be charged interest. Gold charge cards don't charge interest but do give you a period of time to pay off what you spend, usually around 51 days.
• Annual fees. Ongoing gold credit card annual fees range from $0 to $395. While there are some low fee options, make sure you compare this cost to find an affordable card.
• Credit limits. Gold credit cards typically have minimum credit limits around $1,000 to $5,000, although it does depend on the card. Maximum limits can be $25,000 or more. Your actual credit limit depends on your application and the provider's lending criteria and assessment.

Other benefits

• Complimentary insurance. This can include international travel insurance, flight inconvenience insurance, purchase protection cover, extended warranties and refund protection. Although most gold credit cards include international travel insurance, the amount of cover and when you can use it varies. So always read the insurance policy booklet for full details if this is a benefit you'll use.
• Concierge service. This service can help you with travel plans, restaurant bookings, entertainment options and more.
• Global support. If you have issues when travelling, or lose your card, global support services can help you sort things out.
• Lounge passes. Some gold credit cards offer access to airport or airline lounges with complimentary passes, which can be great if you want a bit of luxury when you travel.
• Exclusive card offers:
  • Mastercard Priceless. A gold Mastercard credit card gives you access to both local and global benefits for travel, dining, retail and entertainment experiences.
  • Visa Offers+Perks. Get a gold Visa credit card and you can sign up for exclusive Visa offers such as pre-sale tickets and luxury hotel benefits.
  • Amex Offers. An American Express gold credit card connects you to this program offering deals on shopping, dining, entertainment and more.

How to decide if a gold credit card is right for you

If you want to get a gold credit card, there are 3 important questions that will help you find a card that works for you:

1. How much do you spend each month?

The more you use a gold credit card (both for spending and for the other perks), the greater the value you can get out of it. This value needs to be weighed against the cost of the annual fee if you want to save more than you spend on your credit card.

For example, let’s say you got a gold reward credit card with a $100 annual fee. The goal would be to earn enough reward points to get at least $100 value out of the reward program (i.e. a $100 gift card).

So if you knew you would spend an average of $2,000 per month, and earned 1 point per $1, over a year you would get 24,000 reward points. You can then check the redemption catalogue or website for the card’s reward program to make sure that those points will get you at least $100 value in rewards so that the annual fee is worth it.

2. How many of the features will you use?

Rewards, complimentary insurance, lounge passes and other perks only add value if you use them.

For example, if you get a card with travel insurance but never use it, this benefit will be worthless to you. On the other hand, if you knew you would use that travel insurance regularly, you could save hundreds of dollars compared to buying insurance directly, which would help offset the cost of the annual fee.

3. Are the annual fee and credit limit affordable for you?

Gold credit cards can have higher annual fees and minimum credit limits than standard cards. So think about what you're willing to pay for the account and what's manageable for you right now.

If the cost is too high, you can always compare other credit cards to find the features you want with an annual fee that suits you.

With the credit limit, keep in mind that a higher limit can increase the risk of more interest charges and debt if you don't pay it off each month. When you apply for a credit card, you can request a specific credit limit but it will need to be at least the minimum limit listed – which could be higher on a gold credit card than a standard one.

Frequently asked questions

• Do I have to pay for travel fares to make use of complimentary travel insurance covers?

  Yes, these complimentary insurance covers come into effect only after you use your gold card to pay for travel expenses.

• How is a platinum card better than a gold card?

  A platinum card could offer an even higher credit limit, it could come with additional insurance covers and it should give you access to a 24/7 concierge service.

• Can I transfer my gold card reward points to a frequent flyer program?

  This depends on the gold card you use. There are some credit cards which allow you to earn frequent flyer points directly.

• Is it hard to get a gold credit card?

  Gold cards typically have higher minimum income requirements and other eligibility criteria than basic cards, but not as many as platinum or black cards. That's why it's important to check the eligibility requirements before you apply.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.

Written by

Amy Bradney-George

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

Amy's expertise

Amy has written 549 Finder guides across topics including:

• Credit cards
• Frequent flyer
• Credit score
• BNPL
• Money management
• Sustainability