GOLD CARD NOUN (BUSINESS WORLD)

A preferential charge card (usually coloured gold), which is issued only to people with a high credit rating and entitles them to a range of benefits and financial services not offered to holders of the standard card; hence, a preferential or exclusive membership of any organization. Etymology: Named after its colour, which was no doubt chosen for its connotations of wealth, security, and quality. History and Usage: A preferential credit card was first issued by American Express in the US in the mid sixties, but this did not become known as a gold card until the seventies; various other charge-card companies then followed suit. Gold cards became available in the UK in the early eighties; here, as in the US, possession of one is regarded as an important status symbol (since high income is a condition of issue, a fee is payable for membership, and they open the door to a better service than other plastic money). A sign of their reputation for exclusivity is the fact that gold card has already started to be used figuratively and in an allusive attributive phrase, rather like Rolls-Royce, to mean 'expensive' or 'for the ÷lite'. Gold cards these days come with a battery of useful services. In the case of NatWest there is Freefone Brokerline for share dealing, plus free personal accident insurance and an investment and tax advisory service. NatWest customers will have to pay ø50 a year for their new gold card service on renewal. The Times 21 June 1986, p. 27 Beverly and Elliot Mantle--the film's twin brothers, partners in gold card gynaecology. The Face Jan. 1989, p. 65 On offer also is a Gold Membership. Those who hold a Gold Card may enjoy full use of the gymnasium, squash courts, sauna, snooker, pool, darts and the club lounge, which is equipped with hi-fi sound and video. Oxford Mail 19 Mar. 1990, p. 26