Michael,
I accepted a bank's offer of a Visa gold card due to the 0% interest for the first year. I transferred my balances from my other cards to it and that worked out well. But after the intro period they raised the rate to about 16% so I used the Amex card for larger purchases to avoid the usury charges.
After they charged me the $75 yearly fee one January, I reevaluated the benefits I was receiving for this fee and from the card. There were no reward points, extension of warranties or assistance with merchant disputes ike Amex provided. I no longer had any incentive for keeping it so I paid off the balance and cancelled it.
I think a lot of banks are issuing gold Visas and gold Mastercards in an attempt to emulate the Amex gold card's success and break into their market. They are wanting the additional revenues without adding any of the required costs that are needed to improve customer service, reward programs, etc. that actually increase the card's value to users. If you're attracted to the flexibility of making monthly installments, rather than your full balance each billing cycle, I beleive the Amex gold still allows you to do this with selected large purchases - you just need to call and arrange prior to purchase. I sound like a salesman but I have no affiliation with Amex. I;m just a satisfied customer and, yes, 'I never leave home without it', literally.
