Is a Metal Credit Card Right For You?
Credit card metal options are growing in popularity, offering premium perks like airport lounge access, annual travel credits, fee credits for Global Entry or TSA PreCheck membership, and automatic elite status with select hotels. Before you get a metal card, make sure the benefits and fees are worth it for you.
Benefits
A metal credit card brings a certain heft to your wallet, adding that much-coveted “plunk factor.” They also tend to carry a premium feel, especially those with luxury travel or restaurant perks. But they’re not all created equal, and it’s important to look beyond aesthetics and assess the value of a card’s perks before making any decisions.
Generally, metal cards require excellent credit and income to qualify. They’re also often a bit more expensive than their plastic counterparts. However, as more companies offer metal credit cards, they’re becoming more accessible and available to many people.
Even though they may cost a little more, metal credit cards typically offer higher rewards rates and more perks than their plastic counterparts. They’re also often paired with ancillary benefits that cater to affluent lifestyles, such as concierge services and airport lounge access.
However, metal credit cards can set off airport metal Metal Card detectors and can be difficult to destroy when you’re ready to close them out. To ensure your card’s safety, always check whether your issuer will provide a prepaid envelope to send them back for destruction. Otherwise, you’ll be required to pay the postage yourself, which can add up. Ultimately, the best metal credit cards are those that offer you the most valuable perks for your spending habits and personal preferences.
Convenience
While metal credit cards have traditionally been premium offerings reserved for high-spending customers, they’ve now started to become more widely available. The best metal credit cards combine a sleek, premium design with lucrative rewards and benefits that complement spending habits and financial goals.
Metal cards also work much the same way as plastic credit cards do, allowing cardholders to swipe them at point-of-sale terminals or insert them into chip- and RFID-enabled readers for purchases. Many metal cards are even compatible with digital wallets.
If a metal credit card is no longer needed, it can be returned to the issuer in a secure manner. Most card issuers will provide a prepaid envelope to allow you to send your metal credit card back so it can be properly destroyed and disposed of. You may also be able to bring your card into one of your bank’s brick-and-mortar branches for hand-off in person, though it’s important to call first before heading over to ensure the branch is equipped to handle it.
Because metal credit cards are typically much thicker than their plastic counterparts, they can be harder to damage. That doesn’t mean they are indestructible, however, as metal cards can still bend and snap, as well as have the printed information fade over time. In general, it’s a good idea to keep your metal credit card in a safe place when not in use to prevent accidental damage.
Rewards
Metal cards typically come with some sort of rewards program including welcome bonuses and ongoing cash back or points. Some of the premium metal credit cards also offer luxury travel perks such as airport lounge access and hotel credit card benefits.
However, many of these metal credit cards carry higher annual fees than their plastic counterparts. If you’re looking to find a metal card that works best for your lifestyle, it is helpful to compare the various rewards, annual fees and other factors that are important to your specific needs.
Another consideration is how to dispose of a metal card when you no longer use it. Since these credit cards are heavier than a typical plastic card, they won’t go through a standard shredder and can require industrial-grade tools to destroy them safely. However, many of the metal credit card issuers provide a prepaid return envelope nxp mifare desfire that allows you to send the card back to them for safe destruction. You can also bring the card to your local bank branch if you have one nearby and they can dispose of it for you.
Disposal
Unlike plastic cards, metal credit card can’t easily be destroyed with scissors or even the home paper shredder in most people’s homes (even if it’s rated heavy-duty). If you try to destroy a metal card yourself, you could damage your scissors and also create a piece of metal that identity thieves might be able to use to impersonate you.
It’s best to return a metal card directly to your credit card issuer. Most card issuers recommend this and can provide a postage-paid envelope to make it easy. It may not be the most convenient option, but it’s certainly the safest and most environmentally-conscious choice.
If you’re not comfortable mailing your metal credit card back to your issuer, many have brick-and-mortar branches that can handle the card. For example, Chase can process a Metal Card at any of its physical bank branch locations in the US.
Remember, when you dispose of a metal credit card, it’s important to cancel any automatic payments or recurring charges that were made on the card. Closing a card could cause these payments to fail and could also lower your credit utilization ratio or average age of accounts, which in turn might lead to a dip in your credit score. The easiest way to avoid this is to simply return the card to your credit card issuer when it’s no longer needed.