Gold Credit Cards

Differences exist in all gold cards because they are made for different types of gold card users. Consider how you are going to use your gold credit card prior to applying for it, whether you really are able to afford it, and let those factors guide you in your decision-making. Pros to gold cards over standard credit cards include:

• A higher credit limit. Don’t ever be concerned about whether you can buy something or not—your freedom to purchase is much higher with a gold card.
• A rewards program which earns you more points. Rewards programs through gold cards are far more rewarding than those through a standard credit card. You may earn 1 to 1.5 points for every $1 you spend versus the .5 or possibly 1 points that a standard credit card typically offers. This means that no matter how much you spend, you are automatically ahead of the game, using the gold card rewards program.
• Domestic and international travel insurance benefits. Gold cards usually include insurance for travel when traveling overseas or in Australia – and this is typically one of the biggest reasons that many people look at getting a gold credit card in the first place. Provided you have used your gold card to buy your tickets, your travel can be insured, possibly even being allowed to extend to others traveling with you, such as those in your family.
• More competitive exchange rates and cheaper overseas transactions. Exchange rates are done more competitively to make sure that you, the customer, get the best deal for your money on your purchase, especially on a transaction overseas. Typically, any overseas purchases will be lower than those of a standard credit card due to an automatically calculated exchange rate.
• Purchase protection and extended warranty. Provided that you bought something with a gold credit card, if it is lost, damaged or stolen, protection plans will kick into gear and cover the item(s) for up to 90 days. Also, most of the manufacturer’s warranties will be extended by 12 months by gold cards.