The Benefits of a Metal Card
Metal Cards are a great way to show your brand values and provide a unique experience for your high-net-worth cardholders. They’re also eye-catching and have a weighty feel that differentiates them from plastic cards.
However, metal credit cards usually have hefty annual fees and require good-to-excellent credit. So, it’s important to choose a metal Metal Card card with worthwhile rewards and benefits that fit your individual needs and budget.
What is a Metal Credit Card?
Metal credit cards are a unique payment card option that is often perceived as a status symbol. They are typically made from brushed stainless steel, brass, copper, titanium, or palladium and can be used for making purchases and transferring balances just like any other credit card. The card is also often enhanced with perks that are more luxury than typical plastic cards, such as lounge access and hotel credits.
The metal credit card trend started more than two decades ago with a handful of premium cards that were geared toward big spenders. Since then, more credit card issuers have begun to offer metal credit cards for average consumers. While it is unclear why these cards are so popular, many people do appreciate the look and feel of a metal credit card versus a plastic one.
Despite being more luxurious than traditional credit cards, metal cards are not necessarily better in terms of security or rewards. Getting a metal credit card will usually require you to go through the same application process as getting any other credit card and will be subject to your credit score, income, and spending habits.
In addition, most metal cards have a higher annual fee than typical credit cards. Because of this, it’s important to weigh the pros and cons of a metal credit card before applying.
How do I destroy a metal credit card?
The standard paper shredder that most credit card users have in their homes doesn’t work with metal cards, since they’re usually made of tougher materials than plastic ones. That means you’ll need to find a different way to destroy them, so your card information doesn’t fall into the wrong hands.
Some metal credit card holders have reported using a drill to destroy their old cards, which can be a relatively safe option. This can put holes in the card’s chip, magnetic stripe, and numbers, essentially rendering it useless. Other people have tried melting or burning their cards, but this method isn’t always successful and can still leave some of the card number and other important details intact.
Ultimately, it’s generally best to contact your card issuer and ask for a prepaid envelope to mail it back. Some companies will also allow you to drop off your card at a local bank branch office, which can be a more convenient and safer alternative to mailing it back to the company. Just make sure to call ahead and verify that a banker will be available to assist you. Using your old card as a security deposit for an account you plan to close is another great way to get rid of it without risking fraud or theft. However, if you decide to do this, be sure to keep the card in a secure place so that it can’t be used to make unauthorized purchases.
Can I get a metal credit card with no annual fee?
There are metal credit cards available with no annual fee, but they typically come with lower rewards rates and fewer benefits than those that carry an annual fee. For example, the Bilt Mastercard offers a strong travel rewards program and practical perks such as airport lounge access, but it lacks luxury perks like free airline or hotel stays that are often found on premium metal cards.
For some, the luxury feel and heft of a metal card may outweigh any drawbacks. However, a metal credit card can set off security metal detectors at airports and may not be compatible with older credit card terminals that only accept plastic cards. And metal cards are heavier than their plastic counterparts and can nxp mifare desfire be difficult to bend or shred when they’re no longer needed, so you need to make sure to store them properly.
It’s important to assess the card’s core benefits and determine whether it fits your needs before deciding on a metal credit card. If you’re interested in a metal credit card, it’s best to apply for one that’s associated with a high-quality travel rewards or lifestyle benefits program and has a generous signup bonus. This way, you can ensure the card meets your financial goals and spending habits. Then, once the card is no longer needed, you can work with the card issuer to return it and destroy it properly.
Which credit cards are made of metal?
Unlike plastic cards, which are typically made of polycarbonate, metal credit cards are crafted from premium materials like stainless steel and metal alloys. These credit cards are often seen as a status symbol and offer exclusive perks for high-spenders. Nonetheless, they typically come with hefty annual fees and may be difficult to use in some situations.
Besides being sturdier and heavier than their plastic counterparts, metal cards are also harder to destroy once they expire or you close your account. While you can shred them, it’s usually not a good idea to stick them in household shredders, as the heat can damage the card. Instead, you can contact your issuer and ask for a replacement or to send you an envelope to mail in your expired metal card for destruction.
Whether or not to get a metal credit card is a personal preference that depends on your preferences and needs. The best metal credit cards provide an elegant, luxury design and exceptional durability with a premium feel. They’re also equipped with contactless payment technology and a host of benefits that can add up to significant value. In terms of perks, premium metal credit cards usually feature more than just base rewards and often tout a variety of ancillary travel and lifestyle benefits. These benefits may include airport lounge access, free services, and more.