Is a Metal Credit Card Right For You?
A metal credit card can carry a premium annual fee that comes with elite benefits like travel perks and concierge services. However, it’s important to pick a credit card that matches your spending habits and financial goals before applying.
Many metal cards are ultra-premium attracting high-value and trend-driven consumers. However, fintech startup OneCard launched a lifetime free metal credit card targeting mass market.
1. Aesthetics
When it comes to credit cards, metal cards are a premium choice. They have a unique look and feel, providing a more upscale appearance than plastic cards. They also tend to be more durable and can withstand the Smart Silicone Bracelet occasional bumps and scrapes that come with frequent use. However, it is important to remember that metal credit cards will likely set off metal detectors at security checkpoints. They also may be more prone to scratches, and some users may choose to add protective sleeves to their cards.
For many cardholders, the biggest draw of metal cards is the “plunk factor.” When you take out a metal credit card for a transaction, it has a certain weight that can make it feel special and unique. These cards are ideal for those who want to convey a sense of prestige and status, as they can be seen as a symbol of financial and even social success.
Another big attraction of metal cards is their premium perks and benefits. These perks are usually reserved for high-spenders, and they can include airport lounge access, hotel credits and elevated status with car rental and airline brands.
2. Convenience
Metal credit cards typically carry the same benefits as their plastic counterparts, but they may come with a premium feel. Many of them also feature unique perks that give cardholders a sense of luxury, such as lounge access or elevated status with hotel and car rental brands. Some of these benefits can easily offset the cost of a metal credit card’s annual fee.
However, not everyone can qualify for a metal credit card. The majority of them require good to excellent credit, which Experian defines as a FICO score of 670 or higher. Some cards, like the X1 Card, consider your income when determining eligibility, making them more accessible for people with less-stellar scores.
Ultimately, picking a metal credit card comes down to a personal preference and your financial goals. If you’re shopping for a new credit card, make sure it offers a rewards program that meets your spending needs and fits within your budget. Then, compare the card’s terms and rates against those of other metal cards to see if it’s a fit for you. And don’t apply for multiple cards at once, as a series of hard inquiries can hurt your credit score. For more tips and advice, check out our guide to choosing the right credit card for you. WalletHub Answers is a free service that helps consumers find financial information. It is not a replacement for financial, legal or tax advice.
3. Security
Metal credit cards are sturdier and more durable than their plastic counterparts. They also tend to come with premium perks and benefits that can add value to your wallet.
The hefty price tag associated with most metal cards means Metal Card they’re not for everyone. If you’re looking for a card with more bang for your buck, consider a credit card with lower fees and rewards.
Credit card companies are realizing how popular metal credit cards have become, and many now offer a variety of options for everyday consumers who meet their lending criteria. This means that even those who may not qualify for a metal credit card in the past can now get one that fits their lifestyle.
In addition to their luxury feel, many metal credit cards offer leading security features to protect against payment fraud. For example, some metal credit cards allow you to add a dynamic CVV that updates every time you use your card. This technology is designed to help fight the $32 billion credit card fraud epidemic that plagues the industry.
Some metal credit cards are even able to turn your card into a token, linking your account number with FIDO standards to let you login on any device without needing a password. This is just the latest advancement in a new wave of credit card tech that promises to make cards into universal identifiers and authenticators.
4. Mobility
Metal credit cards tend to be marketed as a status symbol and are often associated with top-tier service offerings and luxury lifestyle perks. While they can offer a unique and eye-catching appearance, the key to deciding whether a metal card is right for you is to look at the overall benefits offered – not just the material the card is made of.
For example, metal cards typically come with premium travel perks such as airport lounge access and elite status in loyalty programs. Additionally, they may offer generous rewards rates and travel statement credits. However, you’ll want to ensure that the card’s perks and rewards rate meet your spending habits.
It’s also important to note that most metal credit cards have annual fees. The exception to this is the Revolut Metal, which has no annual fee and offers a wide range of high-end benefits. The other options generally have higher-than-average annual fees, although some have lucrative welcome bonuses and perks that can help offset the fee.
Additionally, the weight and thickness of metal cards can add up to a heavier wallet and make them less portable than plastic credit cards. And, the metal construction can cause some cards to set off metal detectors at security checks. Fortunately, most card issuers provide a convenient and secure method for returning your metal credit card when you’re ready to cancel. You can bring it to a physical branch or drop it in the mail.
