Gold Credit Cards

With exclusive features including rewards, travel perks and premium card services, gold credit cards are a step up from standard options. Find out more and compare gold credit cards to take your benefits to the next level.

Comparison on Gold Credit Cards

Rates last updated September 27th, 2016
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points Annual fee
American Express Gold Business Card
Keep track of your business expenses with a dedicated business credit card. Your account details can be uploaded in to MYOB, Excel or Quicken to help with BAS reporting.
1 0 10,000 bonus points $169 p.a. Go to site More info

Why you should choose a Gold Credit Card

Gold credit cards are a premium option that builds on the features of standard credit cards by offering greater benefits. Some of the most popular gold credit card features include:

  • Complimentary international travel insurance
  • Purchase security cover
  • Extended warranty insurance
  • More rewards points per $1
  • Higher rewards points caps
  • Concierge services
  • Other travel benefits such as airport lounge access

Gold credit cards also have higher minimum credit limits than standard credit cards, which can be convenient if you use credit a lot.

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How to compare Gold Credit Cards – Differences in Gold credit card offers 

Ideally, the benefits of a gold credit card should be worth more than the costs associated with it. This is where comparing the features, costs and limitations of gold credit cards can come in handy. To help you determine which card is right for you, here are the factors that should come into your comparison:

  • Purchase rate. This is the standard rate of interest applied to new purchases made on the card, so the lower it is the better.
  • Cash advance rate. This rate is applied to transactions such as ATM withdrawals and there is usually less variation between cards (but even a fraction of a percentage could make a difference).
  • Interest-free days on purchases. If you pay your balance in full every month, look for a card with a high number of interest free days so you have more time to pay off purchases without being charged interest.
  • Annual fees. Ongoing gold credit card annual fees range from $0 to $169, so make sure you check the price to save money on the card.
  • Credit limits. Minimum credit limits for gold credit cards give you an idea of how much credit you will have access to and are usually around $4,000 to $5,000.
  • Additional cardholders. Some gold credit cards charge extra for additional cardholders and others offer them free, so check this feature if you would like to have someone else linked to your account.

Special offers with Gold Credit Cards

Banks offer promotional benefits with credit card offers to sweeten the deal when you apply. We’ve broken these down into four key benefits.

Promotional interest rate offers

  • 0% purchase offers. If you plan to spend a lot of money on your gold credit card when you first get it, this type of offer can help you avoid or reduce interest charges.
  • Balance transfer offers. If you want to transfer debt from an existing credit card to a new gold credit card, look for balance transfer offers that have lower interest rates and a long introductory period so you can save money on interest and pay off the debt faster.

Rewards Points

  • 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.
  • Frequent flyer/rewards points earnings rate. Reward programs vary between gold credit card options and 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. Some cards, such as the CommBank Awards Gold, have both an AMEX and a MasterCard or Visa to offer flexibility with different point earning rates.
  • Uncapped/capped rewards points earnings. A point 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.

Travel benefits and insurance

  • Gold credit card insurance. The insurance offered on gold credit cards varies, and could include international travel insurance, flight inconvenience insurance, purchase protection cover, extended warranties and refund protection. Although most gold credit cards include international travel insurance, make sure you check for particular types of coverage in the card’s features, and read the specific details if it is an extra you want to use.
  • Foreign transaction fees. There are three types of foreign transaction fees to look at when comparing gold credit cards:
    1. Overseas ATM Withdrawal Fee (typically charged by the overseas bank). Charged when you withdraw cash from an overseas ATM.
    2. Overseas Cash Advance Fee. Fee for withdrawing cash from your account when overseas.
    3. Foreign Currency Conversion Fee (MC). Charged when you make a purchase in a currency other than AUD either online or overseas.

Even a small variation in the charges applied by different gold credit cards could save you a lot of money when you are travelling.

More Gold card benefits

  • 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.
  • Entertainment experiences:
    • MasterCard Privileges and Priceless Cities. A gold MasterCard credit card gives you access to both local and global benefits for travel, dining, retail and entertainment experiences.
    • Visa Entertainment. Get a gold Visa credit card and you can sign up for exclusive Visa Entertainment offers such as pre-sale concert tickets and theatre deals.
    • American Express invites. An American Express gold credit card connects you to this program offering deals on stadium shows, cinema screenings, theatre events and dining experiences in partnership with Ticketmaster.
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Things to consider before applying for a Gold credit card

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

  1. How much you are spending per month.
    The goal with choosing a gold credit card should be to redeem rewards that are worth more than the annual fee. 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 $2000 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. Are you using all the available benefits and does it suit your lifestyle?
    When you’re choosing a gold credit card, it’s important to be realistic about what benefits you will and won’t use so that you can work out the value of the card for your individual lifestyle.
    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 buying insurance directly, which would offset the cost of the annual fee.
  3. Is the credit limit suitable for your current finances?
    Gold credit cards have higher minimum credit limits than many standard options. While this feature is great if you use credit a lot, it can be risky in some circumstances.
    In particular, people who struggle to pay off their balance in full every month, or those that have existing credit card debt can end up with an even bigger balance if they get a credit card with a higher credit limit. So before applying for a gold credit card, think about how much access to credit you need and whether or not one of these cards will work for your circumstances.
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What conditions do I need to meet to apply for a Gold Credit Card?

Gold credit cards have a range of requirements that need to be met before your application can be approved. This includes:

    • Age. You must be at least 18 years of age to get a gold credit card.
    • Credit history. You’ll need a good credit history that shows a sufficient income and ability to repay your bills on time you receive approval.
    • Income. You must have a regular income to apply for a gold credit card. Some of these cards, such as the Suncorp Clear Options Gold, also specify a minimum income amount, which could range from $30,000 to $50,000.
    • Employment. Most credit card issuers prefer full time employment but there are exceptions. If you are self employed, retired or on a pension but have a regular income, then you could still be eligible for a gold credit card. Check the application requirements for each card you’re interested in, and contact the issuer if you are unsure.
    • Required documents: During the application process, you will need to supply a number of required documents, including:
    • A copy of your driver’s licence, or another official document with your address (i.e. a utility bill)
    • A copy of your passport or Medicare card
    • Proof of employment/income, such as two payslips less than 60 days old, a letter of employment or your most recent tax statement from the ATO
    • Contact details for your employer or accountant

These documents can usually be attached to the application, submitted later via a secured web-form, or posted to the bank and are essential for the application to be fully processed.

How to apply

Apply for a gold credit card using these easy to follow steps.

  1. Look at the range of gold credit cards available and choose the one that best suits your needs.
  2. Click on the ‘Go to site’ button, which will send you to the bank’s secure application page.
  3. Read over the eligibility criteria and application terms.
  4. Fill out the application with as much detail as possible and include supporting documentation when requested (see below).
  5. Submit the application. You should be notified of the initial outcome within a few minutes via the webpage or your email.
  6. If you receive conditional approval, follow the steps outlined by the bank to complete the application process.

How long will it take to receive the credit card?

The time it takes from getting your credit card application approved to receiving it varies depending on the bank or issuer. Most credit cards are received within 5-10 business days from the time of application approval, but it’s a good idea to check with the bank for specific time frames as some can take up to 21 days.

Gold credit cards offer a greater range of complimentary extras and rewards than standard credit cards, as well as the prestige of being a more exclusive option. So if you want to get more value out of using a credit card regularly, have good credit history and earn enough to meet minimum income requirements, then there could be a gold credit card on the market that suits your needs.

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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, and with a card like the Bankwest Qantas Gold MasterCard you can look forward to earning frequent flyer points directly.

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24 Responses to Gold Credit Cards

  1. Default Gravatar
    Harry | September 21, 2016

    I have a Gold Commonwealth Bank MasterCard, I have used the travel insurance very often I am 80 years old now. How can I find out if there are extra charges when I travel again?

    • Staff
      Debbie | September 21, 2016

      Hi Harry,

      Thanks for your inquiry.

      Unfortunately, the complimentary international travel insurance is only applicable to cardholders aged up to 79 years old. Since you’re now at 80 years of age, you may need to apply for an upgraded policy but still needs the approval of Allianz Global Assistance (AGA), which is the insurer of CBA credit cards. As per CBA’s terms and conditions, purchasing an Upgrade Policy lets them receives a commission which is a percentage of your premium. You may need to contact CBA at 13 3982 or AGA directly at 1800 837 177 to confirm the costs and processes of purchasing an upgraded policy.

      For more information, you may read thorough our complete guide for Commonwealth Bank’s complimentary travel insurance for credit cardholders.

      I hope this helps.

      Cheers,
      Debbie

  2. Default Gravatar
    jan | July 15, 2015

    I am intending to travel to England and then onto usa new york and across to la. Where can I find out where to obtain information on travel insurance?

    • Staff
      Jonathan | July 16, 2015

      Hi Jan,

      Thanks for your question.

      You may obtain more information on complimentary travel insurance and the different credit cards that offer it through this page.

      I hope this has been helpful.

      Thanks,

      Jonathan

  3. Default Gravatar
    Catie | May 5, 2015

    Please advise if Gold Visa transaction fees incl GST?
    Thanks

    • Staff
      Jonathan | May 7, 2015

      Hi Catie, thanks for your inquiry!

      GST is a value added tax on most goods and services within Australia. As a result transaction fees with credit cards generally do not include GST charges.

      Cheers,

      Jonathan

  4. Default Gravatar
    Maureen | March 17, 2015

    My husband and I are taking a couple of short cruises along the coast of Australia and to Vanuatu. My husband has just turned 80. Can we pay an excess to cover him or must we insure him separately?

    • Staff
      Jonathan | March 17, 2015

      Hi Maureen, thanks for your inquiry!

      To allow me to assist you further could you please clarify which Gold credit card you are using?

      Cheers,

      Jonathan

    • Default Gravatar
      | March 18, 2015

      Hi John,

      Re my question about insurance for husband who is 80.

      My card is a Commonwealth Bank Paypass Gold Mastercard.

      Hope this helps.

      Regards,

      Maureen

    • Staff
      Jonathan | March 18, 2015

      Hi Maureen, thanks for your inquiry!

      Unfortunately Commonwealth’s complimentary travel insurance policy is only eligible for individuals 79 years or younger. For more information on travel insurance options and comparison of those products please see our Travel Insurance section of finder.com.au.

      Cheers,

      Jonathan

  5. Default Gravatar
    Joseph | January 16, 2015

    We have booked a cruise on Cruise ship Pacific Dawn booking number W503. This was paid for in full using out Gold Credit Card the total being $2598.00. Unfortunately my Vera is sick and been to see the doctor this morning and has a letter stating the situation. How do I make a claim against the ticket price having used the Gold Credit Card.

    Yours in anticipation
    Joe

    • Staff
      Elizabeth | January 16, 2015

      Hi Joseph,

      Thanks for your question.

      Would you mind telling me the name of the card you have? Then I’d be happy to tell you how to go about submitting a claim. Generally though, if you get in contact with your card issuer they should be able to tell you about the claims process.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    Gregory | December 3, 2013

    I have a current ANZ Visa Gold Qantas Frequent Flyer card. I recently purchased an overseas trip with it. Am I covered for travel insurance and if so what are the terms and condition’s of the policy

    • Staff
      Jacob | December 4, 2013

      Hi Gregory.

      Thanks for your question.

      Among other things, if you pay for a minimum of $250 of your prepaid travel expenses (including flights), you’re covered under this policy. Please have a read of the policy document for further information – I’ve sent it to your email.

  7. Default Gravatar
    denish | August 26, 2013

    Hi. Every time the bank offered me to apply for a credit card and when I apply, they declined me showing the reason of Veda credit report agency but I don’t have any idea about that and I don’t think I did not pay any bill so why is this happening and what is the easiest way to get credit card, please?

    • Staff
      Jacob | August 26, 2013

      Hi Denish.

      You can find information on your credit file on this page.

      Your credit file has information on your previous credit applications and credit defaults. If there is an issue that’s stopping you from getting approved for a card, it will be listed on your credit file.

      Thanks for your question.

      Jacob.

  8. Default Gravatar
    Nick | June 23, 2013

    I have a gold visa credit card and have paid airfare and 1000 dollars accommodation. I want to use my gold card for travel insurance, but don’t know if I have to do anything further to get the insurance active.

    • Staff
      Jacob | June 24, 2013

      Hi Nick. Thanks for your question. You will have to tell us the name of the card issuer if you would like specific information about what you need to do to be covered by the insurance policy. Generally speaking, card issuers require that you pay for the cost of your return international airfare with your card, or pay for a certain amount of your pre-paid travel expenses to be covered – once you do this the cover is automatic. This information is listed in your provider’s complimentary international travel insurance policy document. Hope this helps. Jacob.

  9. Default Gravatar
    anne | April 26, 2013

    Can retirees get a gold credit card?
    We have already booked and paid for train and accommodation in Darwin, can we still get a gold credit card?

    • Staff
      Jacob | April 26, 2013

      Hi Anne. Thanks for your question. If you’re referring to the complimentary international travel insurance benefit offered with gold and platinum credit cards, you must pay for the international tickets or prepaid travel expenses using the card. You can still apply for a gold credit card, provided you meet the minimum eligibility requirements, but if you have already book your travel and accommodation within Australia, you won’t be eligible for the insurance benefit – it also applies for international trips only too. Jacob.

  10. Default Gravatar
    Kym | April 23, 2013

    I’m moving OS and would like to get a gold card with travel insurance that covers me for travel that does not originate or terminate in Australia. The cards I’ve looked at seem to imply that flights need to start or end in Australia. Are there any cards that have travel insurance for flights between non-Australian countries

    • Staff
      Jacob | April 24, 2013

      Hi Kym. Thanks for your question. This is not offered. The international travel insurance policies offered with credit cards requires that the journey begin and end in Australia. You may have to take out a policy that is not an included credit card benefit. Jacob.

Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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