The Benefits and Disadvantages of a Metal Credit Card
Metal cards make for eye-catching additions to your wallet. They also provide a durable alternative to plastic credit cards. However, their sturdiness means they can’t be shredded and are more difficult to dispose of.
Many metal credit cards come with hefty annual fees and require good to excellent credit scores for approval. Whether or not they’re worth it depends on your unique needs and spending habits.
Aesthetics
A credit card with a metal surface can add a touch of prestige and elegance to the design. These cards may be made of stainless steel, titanium or a mix of metal alloys and can be embossed with intricate patterns, logos and cardholder information for added appeal. They may also have a unique shape to set them apart from plastic cards.
Although the trend toward metal credit cards began with premium offerings for the highest spenders, many credit card companies now offer them to average consumers. The most common metal cards have a plastic core with a metal coating, while others are pure metal or feature a hybrid metal-plastic design. Functionally, there’s no difference between a metal and plastic card; they both swipe and tap in the same way.
In the past, the only option for a metal credit card was the Centurion Card from American Express, which has a shroud of mystery and is invite-only. But now, almost all major card issuers offer a metal card.
While a metal card may look and feel more luxurious, it’s important to consider your own needs before seeking one out. For example, a metal card with an annual fee that is higher than other options might not be worth it if the rewards and other perks aren’t enough to offset the extra cost.
Durability
Metal credit cards are a relatively new trend in the credit card industry, offering consumers a number of benefits. Durability is one of the biggest advantages, as metal credit cards tend to be more resistant to damage than plastic cards. Additionally, many metal credit cards offer enhanced security features, including embedded chips and anti-counterfeiting measures. Some also come with ancillary benefits, such as travel insurance and lounge access.
Another advantage of metal cards is that they tend Metal Card to have more longevity than plastic credit cards, meaning they will likely be in your wallet for longer. This longevity is due to the fact that metal credit cards are usually made of stronger materials, such as titanium and stainless steel. Additionally, most metal credit cards have a more durable coating than plastic credit cards, which means they are less susceptible to scratches and dents.
Finally, metal credit cards often have a more luxurious feel than plastic credit cards, as they are more durable and can carry a premium image. This can be particularly beneficial for people who want to impress business colleagues or clients.
However, while metal credit cards may offer a number of benefits, they are not for everyone. It is important to consider your spending habits and financial needs before applying for a metal credit card. You should also compare the welcome bonus, earn rate, and benefits of different metal credit cards before making a decision.
Flexibility
The metal credit card space is crowded with cards that offer a premium look and feel, but the perks they provide aren’t always worth the high annual fees. It’s best to consider your spending habits and the quality of benefits when shopping for a new credit card, not whether it has a weighty metal body.
The first metal credit cards to spark a buzz were the Centurion Card and the Chase Sapphire Reserve card, which have both gained popularity as prestigious and exclusive perks cards. These cards typically have higher credit limits and more rewards than traditional plastic cards, but they also come with hefty income requirements and require an invitation to apply.
Most metal credit cards are designed for those with good to excellent credit and a FICO or VantageScore of 670 or more. However, the X1 Card takes your income into account to determine eligibility, so it’s available to people with lower scores.
Additionally, most metal cards have a limited warranty, meaning that you’ll need to return them if they become damaged or defective. Depending on the card issuer, this may mean sending it back to the company in a special envelope or dropping it off at a brick-and-mortar location. It’s important to note that you cannot destroy metal cards with a standard pair of scissors or put them in a shredder like you can with plastic cards.
Convenience
While metal credit cards may look swanky in your wallet, they can also be difficult to use in many scenarios. It is not uncommon for older point-of-sale terminals to be unable to accept metal cards due to their size or inability to fit properly into the card smart card supplier reader slot. Additionally, metal cards often don’t work well with tap and pay payments because of their lack of contactless capability.
Regardless, there are plenty of other ways to add panache to your credit card rotation without having to deal with the challenges that can come with a metal card. If you want to add a little flair, consider a card that offers premium rewards rates and perks for categories like travel and dining.
Metal credit cards are typically designed for high-spenders and carry hefty annual fees with lucrative welcome bonuses and other benefits. You will need a solid credit score to qualify for the best metal cards and enjoy their premium perks. For the rest of us, plastic cards offer just as much value with a variety of features that make them great for any spending occasion. As always, remember to weigh your own credit card habits and needs before applying for a new card. Adding a card just for the metal accents can end up costing more than it’s worth in terms of the added annual fee and extra perks.