Gold cards continue to lose their luster as credit limits sink. Capital One has now introduced a sub-prime ‘VISA Gold’ card with credit limits between $200 and $1,000. According to CardWatch ([www.cardwatch.com]), Capital One unleashed a pre-selected direct mail campaign for the new card last week. The Capital One ‘VISA Gold’ carries no-annual-fee and 19.8% APR. To sweeten the offer, Capital One is offering applicants a choice of a one year subscription to either Entertainment Weekly or Sports Illustrated. Cap One is making the free subscriptions offer on other card products including its ‘Designer VISA’ series. Since VISA and MasterCard have relaxed the minimum $5,000 credit limit of gold cards, several issuers have introduced low credit limit VISA and MasterCard gold cards. Some major issuers have dropped gold products entirely, replacing them with the platinum card.