May people have the concept that when one is in possession of a Visa gold card, then he/she is full of wealth. This is a misconception because the only difference that comes in between the Visa gold card and the other types of the credit cards is based on the fees and services that are put in place. The main reason behind this misconception that many people have is that gold has been associated with power and wealth, but in reality this type of Visa card similar to the other types only that the fees charged on annual basis vary.
In order to apply for the Visa gold card, one has to first understand the terms and conditions that exist in order to be fully informed on what is expected of a person the moment he/she becomes a Visa gold card holder.
Basic information on the Visa gold card
There is only one reason that the bank may decide to select a credit card as gold. There are other categories of credit cards that have been labelled by the financial institutions either as platinum, gold and many more. The banks have worked at influencing the thinking of their customers on what the gold card has to offer. This has been so influential to the people in that most of believe that the moment they become gold card holders, there is a certain social status that will be associated with them.
Another reason as to why the banks opt to label some of their credit cards as gold is that this plays a great role in marketing their operations. In reality, there is no difference of the Visa gold card from the rest of the credit cards. The gold cards come with a higher credit limit as opposed to the other credit cards. Most banks have established the idea on rewards in order to ensure that their customers remain. The rewards are meant to encourage the customers to continuously use their credit cards while making purchases.
The Royal Bank gold card
The Royal Bank Visa gold card is being offered by the Royal Bank of Canada; this means that the many customers of this gold card are the Canadians. There are many benefits that are associated with this type of credit card. Among the many benefits, one of them is the issuance of the reward points. The reward points are awarded the moment a customer uses his/her gold card to make purchases. This is a good way of encouraging the customers to frequently use the facility.
The reward points can be redeemed for any offer that is in place. This only depends on the amount of the reward points that one has acquired.
Tips on what has to be observed on this type of credit card
Fraud has become common and the same happens in the financial institutions. Research has shown that most of the gold credit cards that are being offered by many banks are not efficient because most of these cards have an additional fee as well as the upfront fees. In addition to that, these cards limit the clients from making purchases from catalogs or special stores. This means that one has to have the full knowledge on the type of Visa gold card that he/she applies and be aware of the offers that are being put in place.