New gold bullion-backed credit cards being introduced soon

Since new credit card laws are being instigated, companies are taking the opportunity to create a credit card specifically for those who want to purchase gold bullion, which could turn millions of Americans into gold bugs.

At the present time, one ounce of gold bullion is trading at $1,120USD. According to a press release that was released on Monday, new credit card laws being instituted in the United States could help turn millions of Americans across the nation into gold bugs because a new credit card is being introduced specifically aimed at the “golden opportunity.” It is also believed that this new legislation could help turn the ailing economy around. Public Law 111-24, the Credit Card Accountability Responsibility and Disclosure Act of 2009, which was effective as of Feb. 2010, will make it easier to understand credit card restrictions and laws and also have a new credit card backed by gold. Based on the gold bullion coins they already own or the coins they want to purchase for the first time, gold bugs can have their cards backed by gold. Jeff Silver, Vice President of Gold Solutions Marketing Inc., said, “Those who 'believe in gold' can see the new law reshaping attitudes and conventions about credit cards that will help make this breakthrough collateralized credit card concept a reality in the very near future. They know that gold, which is a hard asset, can provide a higher level of liquidity and usefulness, while positively impacting the financial picture for millions of Americans.” Gold bullion cardholders will have their coins deposited into a secure, insured vault and will receive the rising value of gold, while the gold serves as collateral for the credit card, which has Silver to believe it’s a “win/win/win” situation. The issuing banks and dates will be made available and announced once the selection process concludes. The promotion of the card will be handled by TransMedia Group.