A metal credit card surely catches the eye with its sturdy body and regular plastic credit cards and feels sturdy yet rugged to carry along. But is that the only factor you should consider when choosing these cards? No, not really.
These cards typically have exclusive features, enhanced rewards, upgraded travel privileges, unwavering security and a gateway to elite programs. Functionally, they are just like regular plastic credit cards.
But they are often premium, so there may be higher annual fees and strict eligibility criteria. This can be a hindrance for many in getting such cards. They also come with their own terms and conditions.
Consider their pros and cons, along with some other factors to decide if a metal credit card is the right choice for you.
Advantages Of Metal Credit Cards
- Aesthetics: The metal cards look premium and look more expensive than others. Many people choose to go for metal credit cards as a status symbol.
- Exceptional Durability and Longevity: These cards feel much sturdier than regular plastic credit cards and are less likely to break. Given this, they last longer than plastic cards.
- Benefits: Beyond ruggedness and durability, these cards have exclusive offers, lucrative deals like welcome offers, trip insurance and much more. So, you get a stylish card without compromising on your savings.
- Upgraded Security Measure: The latest metal credit cards have embedded chips and laser etching for better protection against fraud and theft.
- Customisation and Personalisation: Many credit card companies which offer metal credit cards and give a choice to their customers for choosing the colour, finish, and design of their metal cards. With this, you will indeed have a unique metal credit card of your own.
- Elevated Travel Benefits: There are a variety of perks which can transform your journeys like priority boarding, lounge access and travel insurance.
Drawbacks Of Metal Credit Cards
- Hard to Dispose: These cards are strongly built and can’t be easily disposed of. Credit card companies have to arrange a ‘return’ of your metal credit card by courier. It is the easiest way to do it to ensure safety and security.
The purpose is to destroy the card’s magnetic stripe and EMV chip which have sensitive information. They also aren’t scratchproof, which can damage the aesthetics of the card.
- Detect Through Metal detectors: Set off metal detectors anywhere, like the airport, if not taken out of wallets.
- Annual Fees: These credit cards often have higher annual fees than regular plastic credit cards. Owning a metal credit card can be costlier than other options available in the market.
Apart from the above advantages and disadvantages, you must note the following factors before applying for a metal card:
1. Check Your Eligibility: You must have an excellent credit score, typically, 670 and above, to apply for a metal credit card. You should also meet the income requirements as decided by the card issuers.
2. Joining and Annual Fees: Compare the fees that you will have to pay to ensure you choose the most cost-effective option.
3. Welcome Offers: Check for bonus points and offers. You should compare all the options available and choose one with the most lucrative offer.
4. Interest Rate: The interest rate has a huge impact on your credit card balance and score. You must review your options and apply for one with a low rate, to keep interest low.
5. Rewards and Redemption: Look for a card with a reward program that suits your spending habits to maximise the benefits. For instance, some may offer high rewards online payments while some may offer high rewards on offline payments. Check the redemption process and costs to ensure that they are easily accessible and not very expensive.
Metal credit cards are more robust and secure and look luxurious compared to plastic credit cards. They, however, can be less affordable and accessible. To make an informed decision, you need to consider your lifestyle and preferences. Find the right balance between looks and functionality per your financial needs and decide your credit card.
The One Credit Card is a lifetime-free metal credit card and it enables you to add excellent quality, sustainability, and luxury to your finances. The application process is fully digital and can be done quickly on the One Credit Card App.
Enjoy enhanced security, app-based controls and exclusive offers on this premium credit card on instant approval. You can enjoy exclusive discounts on various categories and earn 5X rewards on your top 2 spending categories. Apply for One Credit Card and get an elegant and durable credit card to manage your finances with style.
