Credit cards today are about more than just borrowing power.andreswd/iStockPhoto / Getty Images
Credit cards have traditionally been a financial tool. However, with issuers like Mastercard, Visa and American Express offering more perks and experiences, are cards becoming more of a lifestyle choice for some?
The idea of a credit card being part of your identity might seem like a stretch, but there’s no denying your card can come with bragging rights. This was true for those in Montreal recently during the Canadian Grand Prix.
Mastercard holders could enter a contest on Priceless.com, the card’s “moments” platform, for the chance to win a meet-and-greet with McLaren F1 team driver Lando Norris, the current second-ranked driver on the top-ranked team. Without a Mastercard, you had no chance of winning this once-in-a-lifetime encounter.
For those who are not race fans, card holders could purchase a seafood demonstration and feast with Montreal celebrity chef Chuck Hughes or opt for the VIP Experience at Cirque du Soleil’s Luzia – which includes preferred seating, appetizers and drinks, access to artists before the show and free parking.
If mingling with local elites gets you excited, the Ritz Royale was the most anticipated party of the year and took place during the race weekend. Tickets were a pricey $1,200 a person and the event often sells out but Visa Infinite (VI) and Infinite Privilege (VIP) cardholders received presale access.
VIP cardholders could also buy entry to the Visa lounge. It was the only spot with seating and a private bar, making those without access envious.
Premium American Express card holders received free access to Maison Amex, a pop-up lounge offering complimentary snacks from celebrity chef Danny Smiles, whose Le Violon was ranked as the number one best new restaurant by Canada’s 100 Best in 2025.
While these types of offers have existed for years, their promotion has ramped up recently. Given their higher-than-average spending habits, providing premium card holders with exclusive event access is a logical strategy for card issuers.
Lando Norris of Great Britain and McLaren poses for a selfie with a fan at the Circuit Gilles-Villeneuve in Montreal.Clive Rose/Getty Images
Social media has also changed the way people pick their credit cards. Influencers on TikTok, YouTube and Instagram love to show off their credit cards and highlight the perks that come with them. Even if the posts are sponsored, their followers often get FOMO and sign up for the same cards just to get in on the action.
That’s not to say these programs are solely about making money. Choosing a specific credit card can feel much like supporting your favourite sports team or fashion label – it’s a way for people to show off what they care about when it comes to spending money.
Some more examples? Currently, with Mastercard Priceless, you can enjoy a pre-race Hot Lap in Towcester, England, with a professional McLaren driver or walk the red carpet at the Venice International Film Festival.
Visa has announced that the Visa Infinite Studio on Festival Street will be part of the Toronto International Film Festival this year. This exclusive space is available to VI and VIP cardholders, whether they have tickets to a TIFF event or not, and will offer complimentary food, drinks and live music.
There’s also the Platinum Dining Experiences that are exclusive to American Express Platinum cardholders. This series showcases award-winning restaurants across Canada, such as SUYO Modern Peruvian in Vancouver and Sunnys Chinese in Toronto. Guests will experience a curated multicourse menu while interacting with the chefs behind the dishes.
Glamorizing credit does have its risks – chief among them that it encourages people to overspend. Even if you have a budget and your finances are stable, is paying an annual fee of $399 or more really worth it for access to “exclusive” events?
Still, credit cards today are about more than just borrowing power. They reflect who we are or aspire to be. From gourmet dining to private lounges and luxe travel perks, the card you carry can say a lot about your lifestyle or the one you’re aiming for.
Barry Choi is a personal finance and travel expert at moneywehave.com. He was previously affiliated with Mastercard, Visa and American Express, but currently has no relationship with any of the brands mentioned.
