For $23k, you can own the world’s first 18-karat gold debit card — but we wouldn’t recommend it

Oct 12, 2019

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Hello, hi. Nice to meet you. We’re The Points Guy. You could say we know a thing or two about credit cards here. We talk about them a lot, since we know those pieces of plastic (or metal) can really work wonders for you if you know how to, er, play your cards right.

So it’s no wonder that when we saw something about a “gold card” going viral on Twitter, our ears perked up.

But this isn’t the American Express® Gold Card we all know and love. It’s a debit card produced by the UK’s Royal Mint and it’s made of solid gold — if you’re willing to shell out a cool £18,750 ($23,200) to get one. That hefty price tag includes access to a concierge service and a card that doesn’t charge any foreign transaction or exchange fees and has “limitless spending.”

The card is made of 18-karat gold and is for people who “value high-quality luxury items that make a statement,” according to the Mint. We don’t know who these people are, but boy, do we have some questions for them.

I mean, why spend over $23,000 on a card that gets you absolutely nothing when you could, you know… not?

Take, for example, the aforementioned Amex Gold Card. The annual fee is a fraction of the price — $250 to be exact (see rates & fees) — and with it, you’ll earn 4x points on dining at restaurants and at US supermarkets (up to $25,000; then 1x on the latter), an up to $120 dining statement credit annually, and a ton of other valuable perks that can easily offset the fee. Plus, you know that every purchase you make is putting you one step closer to taking that dream flight or staying in that hotel you’ve had your eye on; it also doesn’t charge any foreign transaction fees (see rates & fees). If concierge service is that important to you, we’d like to introduce you to The Platinum Card® from American Express. You’re welcome.

Neither of the Amex cards are made of actual solid gold, but if you have $23,000 to drop on a debit card, we’d be willing to bet you can just stroll into Cartier and buy yourself a few gold Love bracelets instead. Trust us, you’d be way better off with a nice piece (or five) of jewelry and a few hundred dollars worth of annual fees than throwing more than $20,000 down the drain.

Heed our advice and you may even get a free vacation out of it. How’s that for making a statement?

Featured image courtesy of the Royal Mint.

For rates and fees of the Amex Gold card, click here.

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More Things to Know
  • Limited Time Offer: Earn 90,000 Bonus Miles after spending $3,000 in purchases on your new Card in your first 3 months and a $200 statement credit after you make a Delta purchase with your new Card within your first 3 months. Offer expires 7/28/2021.
  • Limited Time Offer: Plus, get a 0% intro APR on purchases for 12 months from the date of account opening, then a variable 15.74%-24.74%. Offer expires 7/28/2021.
  • Accelerate your path to Medallion Status, with Status Boost®. Plus, in 2021 you can earn even more bonus Medallion® Qualification Miles (MQMs) to help you reach Medallion Status.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
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  • No Foreign Transaction Fees.
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  • See Rates & Fees
Intro APR on Purchases
0% on purchases for 12 months
Regular APR
15.74%-24.74% Variable
Annual Fee
$250
Balance Transfer Fee
N/A
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.