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This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.

213. Is a gold credit card worth the higher annual fee?

Gold cards typically carry some of these perks: collision damage
waiver on auto rentals, travel insurance, extended warranty on
purchases, roadside assistance, higher credit limits, frequent-flyer
miles, and of course :-) prestige.

Many non-gold cards also offer some or all of these. The AAA offers
roadside assistance. Many standard auto insurance policies cover
the CDW on rentals. If you have a good record on your existing
card, you can probably get your credit limit increased by calling
the issuer. There's no one answer to whether these cards are worth
the extra money: you have to decide what the perks and prestige are
worth to you, and your neighbor could well come up with a different
answer.

 

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• prev: 212. Why would I want more than one of the same kind of credit card?
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• next: 214. I was mailed a solicitation for a Visa or MasterCard that accrues frequent-flyer miles on my purchases. Is this a good thing?

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