What Are Gold Credit Cards?

Back in the early 1980s the ultimate symbol of financial status was having a gold credit card in your wallet. Credit cards were still a relatively new concept and starting with American Express the gold credit card was very sought after and very elite.

Times have changed and with a great many more credit card offerings available these days the gold credit card has lost some of it allure but they are still considered a step up from a basic credit card offering, usually boasting higher credit limits and better rewards. Not all big banks still offer gold credit cards at all though, preferring to give their “premium” credit cards special branding of its own to differentiate them from the competition.

It should be noted that there are a great many gold credit cards out there today that are really “gold” in color and name only. You can even get prepaid and secured credit cards that are called gold credit cards. That is not to say that they are not good cards but they do not offer the kinds of perks and benefits that you might expect from a gold card. That means that when you are comparing credit cards offerings you should not be distracted by their name or their color and concentrate on comparing their individual benefits instead.

Here is some information about some of best gold credit cards available today and just what they have to offer:

The American Express Gold Card

The American Express Gold Card was the very first gold credit card ever issued and it still probably the first card that springs to mind when you mention the word gold card to many people. Since this card made its worldwide debut all the way in 1966, the American Express Gold Card has been renowned for the great perks and benefits that it offers to cardholders – benefits that are stil possibly the best offered on any gold card in the 21st century.

There is of course one huge difference between the American Express Gold card and gold credit cards offered by other lenders. That is that the American Express Gold Card is not really a credit card, it is a charge card. There is (as the ads have been famously proclaiming for decades) no pre set spending limit but all balances have to be paid off in full every month – no ifs, ands and buts about it. Since the 1990s American Express have begun offering several “real” credit cards but the American Express Gold is not one of them.

What does the American Express Gold Card offer to its members in return for their $125 annual membership fee? The simple answer is an awful lot.

When used for shopping purchases made with the American Express Gold card, they are covered by not only a purchase guarantee in case of loss or damage up to $300 but a return protection policy. That means that even if the store won’t refund your money on a faulty or unwanted purchase American Express will, up to a $300 value. Big ticket items are also covered by an Extended Warranty that goes beyond any offered by the retailer or manufacturer.

The travel perks available to American Express Gold card holders are excellent as well with free extensive travel insurance benefits, exclusive travel discounts, and perks like gold standard roadside assistance and VIP treatment at major car rental counters located all over the world.

American Express Gold card holders also have access to AMEX’s world famous concierge services. Not quite to the extent they would if they held the fabled American Express Centurion card but they can still get exclusive access to sporting event and concert tickets and travel discounts. And these days the American Express Gold Card has a great travel rewards program attached to it as well.

Iberia Bank Gold Visa Card

Iberia Bank are a newer national player in the US credit card game but they are increasing in size all the time. While the Iberia Bank Gold card does not have too many bells and whistles attached to it the advantages of holding an Iberia Bank Gold card are an increased credit limit and a far j more attractive APR than basic VISA offerings. With an APR that can be as low as 9.25% (and only go as high as 15.25%) this is a low APR credit card that has no annual membership fees attached to it which is also a good balance transfer card if you are looking to consolidate high interest balances from other credit cards as the balance transfer APR is just 1.99%, which can save you a lot of money as you transfer your high interest balances as well as once you are paying them off from their low APR card.