(FOXBusiness.com) — In a week in which gold prices neared their highest level in three weeks and were seen by one company to reach $2,000 an ounce next year, the precious metal is enjoying its time in the sun.
It’s also finding its way into the wallets of some of the richest consumers in Kazakhstan – in credit-card form.
Visa and Sberbank have begun offering a credit card made of solid gold to Sberbank’s top 100 customers in Kazakhstan as a companion card to the Visa Infinite card, hoping to capitalize on what they see as a “growing appetite for elite, status-symbol cards.”
The card is embedded with 26 diamonds equal to 0.17 carats, but it’s not just for show. While it doesn’t have a magnetic strip, it can be used for chip-based transactions.
That said, it’s hard to imagine people will feel comfortable enough carrying it around. The card costs $100,000 for the first year — $65,000 for the card itself with the remaining $45,000 as credit, a spokesperson for Visa confirmed. The annual fee is $2,000.