So you don’t just want a standard credit card? You want all the perks, luxuries and service possible with a credit card? Try a gold or platinum credit card!
What are Gold and Platinum Credit Cards?
Gold credit cards and platinum credit cards offer a huge number of benefits that standard credit cards do not offer. Platinum credit cards are the highest level of credit card you can obtain (with few exceptions) and offer much more freedom when spending.
If you are rewarded with a platinum credit card it means that the bank believes you are a very low risk and are very much able to pay your bills. Platinum credit cards have low interest rates and the highest spending limits. Gold credit cards are one step down from a platinum credit card and have lower interest rates than standard credit cards as well as higher spending limits, however the benefits are not quite as plentiful as platinum credit cards.
Gold credit cards are easier to obtain than a platinum credit card. Both platinum credit cards and gold credit cards usually have better rewards programs than standard credit cards. For those that collect frequent flyer points you will generally get a better dollar to point ratio with a gold or platinum credit card.
Some of the other benefits of gold and platinum credit cards include increased security on purchases as well as travel insurance when overseas.
Who are Gold and Platinum Credit Cards Suited to?
Gold and platinum credit cards are not suitable or available or everyone. Platinum credit cards in particular require that you have an impeccable credit history and very high incomes to be eligible. Gold credit cards also have higher eligibility requirements than standard credit cards.
If you meet the requirements for a gold or platinum credit card then you will no doubt be impressed with what they can offer you. For those that are eligible there are very few reasons to choose any other card than a gold or platinum credit card.
Choosing a Gold or Platinum Credit Card
If you are lucky enough to be eligible to apply for a gold credit card or a platinum credit card then there are plenty of options available to you. The market is very competitive in Australia so credit card companies are constantly trying to outdo each other to offer their gold and platinum credit card holders the best possible rewards.
You should always shop around diligently to ensure you get the best card for your money. There are several factors you need to take into account whether you are applying for a gold credit card or a platinum credit card.
The first thing is the minimum income required to be eligible. For gold cards this is typically a minimum of $25,000. Platinum credit cards generally have a minimum income requirement of at least $50,000. For both cards you need to have a blemish free credit history.
One thing that most people consider very highly is the benefits that the cards offer you. Do you want a good rewards program? How about travel insurance and enhanced fraud security? There are lots of benefits available so find the perfect card to fit your lifestyle. Compare gold and platinum credit cards now with Click 4Credit’s credit card comparison tables.
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