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Everyone knows that there are many options out there when it comes to credit cards. If you are not looking for a standard credit card, then your options may not be quite as numerous. Luxury credit cards are popular due to the benefits that they can offer cardholders. Having a luxury credit card in your wallet is a bit of a prestige symbol and it can also come in handy during many situations. One luxury credit card that many people are starting to talk about more and more is the MasterCard Titanium Card.
The Mastercard Titanium Card is the entry-level luxury card that is offered by MasterCard. Don’t let a term such as “entry-level” make you think that this card is not special, though. It has a lot to offer you and may wind up being your favorite credit card that is in your wallet.
Before applying for any type of credit card, you need to analyze the available information. This credit card does come with a fairly steep annual fee and you will need to know what it has to offer before being comfortable enough to proceed. Join us as we examine the MasterCard Titanium Card completely and determine just how beneficial this card truly is. Once you have read all of the facts, you should have a much better idea of what to expect.
Mastercard Titanium Card
|No intro offer|
|You'll earn 1% rewards on all purchases.|
|Brushed Stainless Steel Card.
Airfare redemptions are worth 2 cents per point.
|This card is not luxurious at all. In fact, there are cards with no annual fee that are more rewarding. A Chase or Amex card would be a much better choice.|
|LEARN MORE >>|
Mastercard Titanium Card Fees
This credit card is going to come with a fairly high annual fee attached to it. You will need to pay out $195 per year when you are signed up for this credit card. In comparison to some other luxury credit cards, this fee is not all that high. It is a lot higher than most standard credit cards, though.
If this is the first luxury credit card that you have ever applied for, then you might be a bit taken aback by how high the annual fee is. Those who have made use of luxury credit cards in the past will know that this is par for the course. In order to make this card worth your time, you are going to have to benefit enough from using the card to pay for that $195 fee. When we discuss the benefits and rewards later on, you will see that covering the fee amount is likely not going to be all that tough.
You should also know that additional credit cards are going to cost money too. You will not be able to enjoy free cards for other members of your household to use. If you need a second card, then you will have to pay $95 to get one. This will be the case for any additional cards that you need to order.
There are other fees to consider when using this credit card as well. You will have balance transfer fees of either 3% or $5, depending on which is greater. Cash advance fees are set at 5% with a $10 minimum. These fees are fairly standard and should not deter you from wanting to apply for the card.
Late payment fees can cost as much as $37, depending on certain factors. This fee is not really too much different than most standard credit cards. It is very reasonable when you consider that this is a luxury card that is held to a high standard.
One positive aspect to keep in mind is that this credit card does not have any foreign transaction fees. If you have business outside of the country, then you will be able to use your credit card without having to worry about being charged extra money in the form of fees. This is a very nice touch as many people who use luxury credit cards do tend to travel often. If you find yourself outside of the country from time to time, then you will be glad to be able to avoid pesky foreign transaction fees.
The APR of this credit card is actually pretty low for a luxury credit card too. This makes applying for the card an even easier decision to make. There is a short introductory APR period when it comes to balance transfers too. You can avoid paying interest on balance transfers within the first 45 days of opening the credit card account.
Features of the Mastercard Titanium Card
Most of the features of this luxury credit card are going to be related to the benefits of being a cardholder. Even so, there are some specific features to highlight. One of the most important features is that this card is capable of functioning as a modest rewards credit card. It has some rewards features that will come in handy and those will be discussed in detail further on.
One of the best things about this card is its overall aesthetic appeal. People are drawn to luxury credit cards because of the perks but they also appreciate the overall look of the cards. This card is made out of stainless steel and carbon. It really has quite a bit of weight to it and will almost assuredly be the heaviest card in your wallet.
It has a very elegant design that is going to garner a bit of attention when you use it. Appearance really does matter when choosing a luxury credit card and this one has a nice look. You will most likely be pleased by the appearance of the card and it will offer you a lot more than that. You want to be able to have an easy experience while using your new card to the fullest.
This card is very good at giving you access to rewards data and other pertinent information through bill statements. You will have access to a committed customer service team as well. If you ever need to make any queries or get any help with anything at all, this card will prove to be easy to manage.
Benefits of the Mastercard Titanium Card
The benefits of being a cardholder are actually quite nice. You are going to be able to enjoy several great perks that will help to offset that $195 annual fee. One of the most useful ones is gaining access to a 24/7 concierge service. This is going to help you to answer questions and will generally facilitate many things for you.
If you are traveling and want to get tickets to a concert that is in town, then the concierge service will be able to help you with that. They can help you to book your travel and can solve many problems for you. This useful service is available at any time and you can use it in very convenient ways. You will be able to call the concierge service or you can speak to someone through a dedicated messaging app.
Whatever your needs are, they will be able to be helped by having access to the concierge service. The card also gives you access to helpful travel perks. You will be able to get luggage insurance and travel accident insurance. This can ensure that you will have a smooth experience even when you run into mishaps while on your trip.
This card even gives you access to a service that has professionals escort you through airport procedures. If you dislike going through the rigmarole of being checked by airport security, then this can really streamline things for you. It can help you to save time and will make things more pleasant and less intrusive. This card may be worth signing up for even if just to save yourself some time at the airport.
Rewards Program Info
You are able to receive one point for every $1 that you spend using this credit card. This means that you will be steadily earning rewards at a pretty standard rate. The rewards rate may not be all that impressive but it can add up over time. If you use the card regularly, then you should be able to earn pretty good rewards over time and it will help to offset the annual fee.
One good feature of this rewards program is that you can redeem your points at a 2X rate when you put them toward air travel expenses. This means that you will be able to get a $1000 airline ticket for 50,000 points. It works out pretty well and it can really help to keep your travel costs a bit lower. There may be some credit cards with more flexible travel rewards programs but this is still pretty good overall.
Rewards can also be redeemed for gift cards, hotels, car rentals, and other typical stuff. You may want to stick to redeeming the points for travel though, due to the 2X redemption rate. Even so, it is good to be presented with options. It’s always better to have more options on the table for when you need to do something else with your points.
- The card is very impressive.
- Benefits are good.
- It makes traveling easier.
- The rewards program can be helpful.
This is definitely a very impressive credit card that is going to feel great to use. If you have been desiring a luxury credit card to use as a status symbol, then you will enjoy this card. It looks really nice and has a great design. The impressive aesthetic appeal of this card is very hard to deny and it is going to appeal to most people who will want a luxury credit card.
The benefits of the card are substantial as well. The best benefit is probably the 24/7 concierge service but it will also depend on your personal preferences. The concierge service is so useful that it will make your life easier in several ways. Other benefits include luggage insurance, travel insurance, and rental car insurance waivers.
Traveling will be substantially easier if you make use of this credit card. You will be able to be met at the airport by a professional service that will streamline things. Getting through security will be easier and you will be able to enjoy a less stressful environment. It can save you time and keep you in a very good mood.
Rewards are a good feature for any credit card to have. The rewards program of this credit card may not be amazing but it is useful nonetheless. You will be able to earn points on all of your purchases and can use the points to pay for travel expenses. You will get the highest redemption rate when redeeming points for airfare so sticking to travel redemption is highly recommended.
- The annual fee is high.
- There are other fees that you need to worry about.
- Additional cardholders and cards require a fee.
- Rewards options are just okay.
The high annual fee of this credit card is going to hold it back in some people’s eyes. If you don’t like the idea of having to pay out $195 every year, then this card may not be for you. The fee is justifiable if you will use the card enough to gain the many benefits that it offers. It just depends on your situation and how practical this is going to be for you.
There are other fees that are associated with this card too. You will be paying a 3% balance transfer fee and a 5% cash advance fee. The fee numbers are fairly standard but any types of fees are going to be seen as a nuisance. They are not all that bad, though, so don’t let this keep you from signing up.
Additional cards and authorizing new cardholders will require a somewhat high fee to be paid. You will need to pay out $95 in order to get a new card for another authorized cardholder. This is not too unusual for luxury cards to do this. Even some non-luxury credit cards have fees for giving out new cards so it isn’t completely out of the ordinary or anything.
Lastly, the rewards options for this credit card are kind of just okay. They are passable and will help you out but they are not going to offer you anything truly exceptional. If you care about rewards, then there are several less expensive options on the market that offer far greater rewards potential. This is a credit card that is truly all about the benefits of membership.
Credit Score Needed for Approval
In order to qualify for this credit card, you are going to need to have a really great credit score. It will be best for your credit score to be in the excellent range before you decide to apply. Those with credit scores in the high 700s should have a shot but other factors will be considered as well. Your income will play a role in whether or not you will be approved too so take everything into account before deciding whether or not to apply.
Who Does The Mastercard Titanium Card Appeal to Most?
A good luxury credit card such as this is going to appeal to many different types of people. Of course, those who want to have the prestige that comes with having access to a luxury credit card will love this. The MasterCard Titanium Card is a very impressive credit card that stands out from other credit card options. If the aesthetic appeal of a card matters to you, then this card is likely something that you will enjoy having in your wallet.
This is also going to be a great card for anyone who wants luxury perks. The various benefits that you can enjoy for being a cardholder are very valuable. You will have access to perks that will make your traveling experiences much nicer and will even be able to enjoy concierge services. These great benefits can make the price of admission seem very worthwhile.
Some people will not be able to take advantage of everything that this card has to offer, though. If you are a bit more of a frugal person, then this credit card may not be the one for you. This is going to appeal to those who travel a lot and who like to spend money on entertainment. If you only use credit cards sparingly, then you may not be able to justify the annual fee.
Alternative Cards to Consider
One alternative to consider is not actually a luxury credit card. You may want to take a gander at the Chase Sapphire Preferred Credit Card. It has many great rewards and is superior to the MasterCard Titanium Card in many areas. It offers great travel benefits and some pretty substantial rewards too.
You will be able to pay a far lower annual fee when making use of the Chase Sapphire Preferred Card as well. The annual fee is set at $95 per year. This is one that you should look at if having a luxury credit card is not important to you. This may be preferable in several ways even if it does not offer some of the more luxurious perks that the MasterCard Titanium Card does.
Compare the Titanium Cards Benefits to the Chase Sapphire cards
|Chase Sapphire Reserve||Chase Sapphire Preferred
|Signup Bonus||50,000 Points after $4000 in first 3 months||60,000 Points after $4000 in first 3 months|
|Earning Rates||3X Travel & Dining||2X Travel & Dining|
|UR Travel Portal - Redemption Value||1.5 Cents per Point||1.25 Cents per Point|
|Lounge Access||Priority Pass Select||N/A|
|TSA PreCheck or Global Entry||Full Statement Credit for Either ($85/$100)||N/A|
|Authorized User Fee||$75||$0|
|Best for People Who...||Want a large introductory bonus|
Want luxury travel benefits
|Want a large introductory bonus
Want the annual fee waived year 1
Like to Travel
|Learn More >>||Learn More >>|
Decision Time: Is the Mastercard Titanium Card Best?
Signing up for the MasterCard Titanium Card is a great idea if you think that you can make use of it well. If you need a good credit card that will offer you many unique perks, then this one will appeal to you. You will be able to have an easier time at airports and can even enjoy a fantastic concierge service. It will help you to enjoy life even more and that is certainly worth a little bit of money every year.
People who use this card often enough will have no problem paying for the annual fee. When you combine the convenience of the available benefits with the rewards potential, you will be able to earn more than $195 per year in compensation. It just comes down to how you use the card and what you are expecting out of the experience. This credit card offers good benefits and rewards that will be helpful to you.
You do need a high credit score to qualify for the Mastercard Titanium card, though. Just make sure that you will be able to meet the necessary standards for this card. Once you have it in your wallet, it should become a very useful tool that you’ll be able to use regularly.