Grading Credit Cards

I’ve written the following grading standards for credit cards so you can understand the way I’m thinking. The standards I’ve written are merely to get a flow of ideas started, they aren’t official, but I believe they will help all of us sing from the same hymn sheet, so to speak.

What does grading credit cards mean?

Grading credit cards means giving them a rating to help you and other credit card collectors better understand what their value might be.

Common language

We all must follow a basic language so as to communicate the condition of the credit cards we have. I want to use terminology where a person who has no expertise in grading credit cards and doesn’t want to take the time to learn can still understand what is taking place. We don’t need a highly developed system at this time.

To keep this simple, let’s start with the basics. There are two broad categories of conditions. One is used. The other is unused.

Each of these broad categories can be broken down further. The simplest form is the “best” and “worst” in each category. Then take the middle between the best and worst. That gives us three grades in each category.

Example:

Unused

  • Best
  • Medium
  • Worst

Used

  • Best
  • Medium
  • Worst

It appears that for simplicity, the next grades should be the middle between these three conditions.

Example:

Unused

  • 1 Best
  • 2 Nice
  • 3 Medium
  • 4 Fair
  • 5 Worst

Used

  • 1 Best
  • 2 Nice
  • 3 Medium
  • 4 Fair
  • 5 Worst

Point system for grading credit cards

Remember, we’re only dealing with concepts now. Don’t become concerned with the names I’ve used. One interesting thing has taken place. If we use a numerical grading system, there are a total of 10 grades ( 5 used + 5 unused). In its simplest form we now have a:

10 Point System

  • 10 Best
  • 9 Nice
  • 8 Medium
  • 7 Fair
  • 6 Worst
  • 5 Best
  • 4 Nice
  • 3 Medium
  • 2 Fair
  • 1 Worst

I propose we analyze the 10 point system. This is more grades than we currently need but it does allow for future hobby growth. Besides, with the 10 point system, if more grades are needed we can use a + or – along with the number.

We could also add a zero to each number and have a 100 point system. These are more grades than I conceive needing any time soon though. The following 10 point system is just to give you an idea of what we can use. The grades need more clarification and fine tuning.

Physical condition

In grading, only consider the physical condition of your credit card or credit coin. Don’t make allowances for age. Check the object’s entire surface; front, back and sides. By tilting the card, plate or coin at different angles you’ll be able to better examine it. Grading is done with the unaided eye. Mint means it’s in original condition with no evidence of wear.

Charge Coins

  • 10 FM Flawless Mint – Perfect.
  • 9 EM Excellent Mint – A few hairline scratches.
  • 8 IM Intermediate Mint – Numerous hairline scratches. Minor flaw.
  • 7 PM Preferred Mint – Minor flaws. A few marks, blemishes and scratches.
  • 6 M Mint – Easily noticed scratches, nicks and blemishes.
  • 5 VN Very Nice – Faint traces of wear.
  • 4 N Nice – Slight wear. All major details are sharp.
  • 3 G Good – Moderate, even wear. All major details are distinct.
  • 2 F Fair – Well worn. Lacks detail but major features are distinct.
  • 1 P Poor – Heavy wear. Design is weak.

Metal Charge Plates

  • 10 FM Flawless Mint – Perfect. Cardboard mount is clean and fresh.
  • 6 M Mint – No major defects. No signs of wear.
  • 5 VN Very Nice – Faint traces of wear. Mount is clean.
  • 4 N Nice – Slight wear. Minor defects.
  • 3 G Good – Moderate, even wear.
  • 2 F Fair – Well worn. Printing on mount shows wear and aging.
  • 1 P Poor – Heavy wear. Mount is extremely dirty, stained and torn.

Paper Credit Cards

  • 10 FM Flawless Mint – A perfect card. Clean and fresh.
  • 6 M Mint – Not perfect but obviously not used.
  • 5 VN Very Nice – Almost mint. Very light aging or discoloration.
  • 4 N Nice – Minor wear on edges. Slight wear visible upon close examination. Minor defects.
  • 3 G Good – Slight layering on one or two corners. Slight notching on edges.
  • 2 F Fair – Layering on corners. Dirty and frayed edges. Scuffing.
  • 1 P Poor – Extremely dirty. Stained and creased. May have torn and missing corners.

Laminated Paper Credit Cards

  • 10 FM Flawless Mint – Without any flaws whatsoever. Bright with full gloss. Plastic must be clear with no clouding or discoloration.
  • 9 EM Excellent Mint – Only a few hairline scratches. Full gloss.
  • 8 IM Intermediate Mint – Numerous hairline scratches. Minor flaw.
  • 7 PM Preferred Mint – Minor flaws. Small scratchy areas.
  • 6 M Mint – Easily noticeable scratches on plastic. Nicks on edge.
  • 5 VN Very Nice – Hairline scratches. One or two slight blemishes.
  • 4 N Nice – Numerous hairline scratches. 3/4 gloss. A few marks and smudges. Slight rubbing.
  • 3 G Good – 1/2 of gloss left on card. Blemishes.
  • 2 F Fair – Gloss missing on over half the card. A few minor cuts, cracks or flaws. Well used.
  • 1 P Poor – Heavy wear. Dirty and unsightly. Lamination peeling, splitting or cracking.

Plastic Credit Cards

  • 10 FM Flawless Mint- Without any flaws whatsoever. Bright with full gloss„
  • 9 EM Excellent Mint – Only a few hairline scratches. Full gloss.
  • 8 IM Intermediate Mint – Numerous hairline scratches. Minor flaw.
  • 7 PM Preferred Mint – Minor flaws. Small scratchy area on magnetic tape. Signature space may have an ink line across it.
  • 6 M Mint – Easily noticeable scratches. Signature space may have numerous lines upon the surface. Magnetic tape is scratchy. Nicks on edge.
  • 5 VN Very Nice – Hairline scratches. One or two blemishes. Signature space is almost clean. Almost full gloss.
  • 4 N Nice – Numerous hairline scratches. 3/4 gloss. Slight blemishes. A few marks or smudges on signature space.
  • 3 G Good – 1/2 of gloss left on card. Light dirt on signature space. Blemishes.
  • 2 F Fair – Gloss missing on over half of the card. A few minor cracks, nicks or flaws. Well used.
  • 1 P Poor – Heavy wear. Cracks, dirty and unsightly. Parts of signature space and magnetic tape are missing.

Copyright 1986 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society