(This is not a product recommendation, this is a blog post about a news item taken from a recent press release.)

Here at DGCblog we have seen a number of these card/gold products over the years. In past products the card companies eventually shut down the cards for some minor infraction, but this account is a new twist on an old issue. Feedback appreciated.

Here is an interesting new gold product call the Gold Bullion Card. This appears to be some kind of a plastic debit/credit/ATM card where the company will extend you a line of credit based on your gold deposits with them.  They are reported to be using FideliTrade Incorporated although they misspell it (FidliTrade Vault in Delaware) in the FAQ section of their card web site.

“Credit Line = 75% of the value of your deposited coins”

The small print reads: *Subject to the card-issuing bank’s choice and required approvals, a Visa and/or MasterCard may be issued.

It’s great to see business people recognizing the value and everyday use of gold in financial transactions. If you have any experience with this company please feel free to comment below.

Of course, SSN required for this US financial product. For more info visit their web site or contact the company. http://www.thegoldbullioncard.com/

Personally I prefer and can recommend the Webmoney MasterCards.