What Are Platinum Credit Cards?
Platinum credit cards have many benefits and features compared to a standard or gold credit card.
Conventional school of thought would find platinum credit cards to be a status symbol. However, relaxed
rules and upper limits have brought them within reach of the average person too.
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Platinum credit cards are generally offered to those individuals with good credit ratings and an income of
around £20,000 per annum or more. Platinum credit cards have many benefits and features compared to a
standard or gold credit card. Conventional school of thought would find platinum credit cards to be a status
symbol. However, relaxed rules and upper limits have brought them within reach of the average person too.
A platinum credit card can be a good choice if you frequently use credit card for your routine and high
purchases and pay back the whole credit at the month end. You get a high limit of credit and sometimes no
limit at all if you show a high earning power of annual income £25,000 or more. However the actual high
level of credit you’ll get depends on your income and credit rating.
Platinum card owners are privileged because they do not have to pay the usual high interest rates on credit.
Generally there is a low or no annual fee. You can get a number of benefits and rewards such as free air
miles, discount points, reward points for purchases and cash back. If you cannot make the most of platinum
card deals it is better to opt for standard credit card. Since, maintaining a platinum credit card can prove to
be a costly affair in the long run if not used and managed properly.
<b>A number of credit card companies offer special facilities such as:</b>
<li> Protection against accidental injury, sickness and involuntary unemployment
<li> Protection against card theft and loss
<li> Online credit card fraud protection
<li> Travel insurance and special travel services
<li> Flexibility to share it with friends and family
<b>Platinum Card Guidelines</b>
There are certain things you must never overlook while signing up for a platinum credit card. Make sure you
spend only that much amount that you can easily payback because even if you fail to pay one monthly
payment it will account for a negative credit rating. Bottom line is that the benefits should always amount up
to more than you pay.
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