Platinum and Gold Credit Cards Comparison
Want more features, benefits, luxury and service from your credit cards? You can’t get much classier than a gold credit card or platinum credit cards.
Platinum Credit Card Offer
The American Express Platinum Card is a rewards card like no other. Take care of all your travel and lifestyle needs. Transfer points to 9 airline partners including Qantas, invitations to VIP events, your very own 24/7 personal concierge service and many more platinum privileges.
- 80,000 Membership Rewards Bonus Points when you spend $500 in first 3 months*
- No pre-set spending limit, all you need to do is pay off your balance in full each month*
- Earn up to 3x points for every $1 spent*
- Complimentary travel insurance*
- Virgin Lounge Access*
Platinum Credit Card Comparison:
Gold Credit Card Comparison:
Gold Credit Cards
- Compare Gold credit cards
- Which is the best Gold credit card?
- How do Gold credit cards work?
- How to compare Gold credit cards
- How to use a Gold credit card
Platinum Credit Cards
- Compare Platinum credit cards
- Which is the best Platinum credit card?
- How do Platinum credit cards work?
- How to compare Platinum credit cards
- How to use a Platinum credit card
How Do Gold Credit Cards Work
A gold credit card provides many benefits to its owners. Eligibility requirements for a gold card are higher then the requirements for some other cards. There is an income requirement as well as a credit rating that is basically free of any negative marks. If you meet these stipulations a gold credit card is an excellent choice for you. Once you have the card it is important that you take advantage of the many benefits that these cards offer to their customers.
As a gold credit card owner you are entitled to some of the rewards typical of other credit cards. The reward system that many credit card companies use is points based. These points are then redeemed for gift cards, travel, or shopping. They can also be used towards airline miles or petrol purchases. The best way to take advantage of rewards is to use your card for as many purchases as possible. This way you maximise the number of points you earn through your spending. The one thing that any credit card owner need to be careful about is not overspending which is easy to do when you use plastic for all of your expenses. Be sure to stay within a budget that allows you to pay off your entire balance each month. If you incur excessive interest charges the value of the rewards will quickly diminish.
Specialised protections for gold credit card owners:
Another reward that you can look forward to as a gold credit card owner is additional safeguards on your purchases. One of these protections is a warranty extension programme. These usually provide one more year of coverage on appliances for your home after that of the manufacturers warranty. Some cards offer a benefit that protects your purchases without any added cost. If your card offers free purchase protection your items will be protected from theft, loss, or accidental breakage for a set period of time. Typically the period lasts for three months after you have made a purchase.
In this unfortunate age of identity theft most everyone is concerned about protecting their name and their financial status. If you have a gold credit card you are protected from these dangers by your credit card company. If your card or your credit information is breached the company will relieve you of the fraudulent charges. This added security ensures that even if you are the victim of credit card fraud you have your creditors in your corner and will not be saddled with debt that you did not incur.
Credit limits and interest rate rewards:
The higher credit limit on a gold credit card provides added security for you personally. In an emergency situation many people have to be concerned with the cost of their problem. But, if you have a gold card with an increased spending limit there are few emergencies that you would not be able to cover with your card. Even if it is not an emergency, but any unexpected expense you will be able to use you card. Add to this the points reward it can make sense to use your gold credit card for these unexpected purchases. Also, because you have a low interest rate this purchase will not be excessive over the time it take you to repay it.
If you have other cards that are charging higher interest rates you can take advantage of one of the other benefits which is low or zero percent balance transfers. One of the reasons so many people have fallen into debt is that they wind up paying so much in interest that they are unable to make any real dent in the principal balance of a credit card. Once you have earned the status of a gold credit card you can transfer that balance to your new card and chip away at the debt instead of just paying the interest. One thing to make sure of if you choose this route is to pay off any balance transfers before your rate changes, that is if your low balance transfer rate is an introductory offer.
Travel with a gold credit card:
If you use your gold credit card to book your travel expenses you are probably entitled to insurance that covers accidents that could, sadly happen to your or your family. While you are on holiday you hope that everything goes swimmingly, but if it does not your gold credit card protects you. Most cards will offer their members a special number they can call if they are in need of legal or medical aid while travelling overseas.
With all of these benefits it is hard to understand why anyone who qualifies for gold credit cards would not want one. If you fit the bill you should not only apply, but seek out those cards whose rewards will offer you the most bang for your buck.
Compare Gold Credit Cards
If you are in the position to compare gold credit cards then you have distinguished yourself as having a nearly flawless credit file. Additionally, these cards require a minimum income with most being around $25,000 per annum. If you meet these requirements and you do not yet have a gold credit card then you are probably not getting the rewards and protections that you deserve.
Because your income is a little higher you are also eligible for a higher spending limit then those offered when you compare gold credit cards to regular credit cards. This increased spending limit is given because you have proven that you can be responsible with your available credit. When you compare gold credit cards you should take into consideration what credit limit is offered. If you think that one is not as high as you would like simply ask for an increase. With your income and credit history it is likely that your request will be handled satisfactorily. Credit card companies want to maintain the business of people like you, perfect customers who spend a lot and have the means to repay their debts. If you have a negative credit history then you will likely not qualify for a gold credit card. However, once you see the rewards you could earn it will give you the impetus to improve your credit rating so that one day you will be eligible for a gold credit card.
Compare Gold Credit Card Benefits:
As you would expect when you compare gold credit cards to other cards you get the baseline rewards programme. For most cards this is a system of points, sometimes matched dollar to dollar that you can use for a variety of other purchases. The points can also be used for airline miles or redeemed for gift cards, petrol purchases, or shopping at various stores. Sometimes you can even use them towards groceries. The credit card companies make points valuable so that you will use your card more often. However, it is rather easy to overspend when you do all of your purchases with plastic. Set up a budget and make sure that you only spend as much as you are able to repay at the end of the month.
In case you do happen to overspend on a particular month there is a little built in security in the form of a lower interest rate. Your good credit file allows the credit card company to know that you are not a risk and therefore offer you a low interest rate. If you should be unable to pay your full balance at the end of the month you will not be burdened with an excessive interest rate. It is a valuable asset that many people do not consider when they compare gold credit cards.
Gold Credit Cards And Safety:
Another benefit that you should explore when you compare gold credit cards is the type of safety they provide for their members. Security is a huge issue for everyone. Unless you make all of your purchases in cash you are at risk for identity theft. For those who have a gold credit card this risk is reduced because the company provides protection to their members from fraudulent charges. If you are a victim of credit card fraud you should only have to phone your credit company and they will revue the charges an you will not be responsible for anything that they deem fraud. >
When you make purchases with your gold credit card, there is built in security there too. Be very aware of these benefits as you compare gold credit cards because they have a high value. Often the credit company will protect your purchases from accidental damage, theft, or even loss. Again, there is a lot of security in knowing that the items, especially those expensive purchases, are protected. There are also added warranty protections for specific purchases, namely household appliances. Most manufacturers offer a one year warranty on their products. Gold credit card add an additional year to this protection.
Protecting Yourself On Holiday When You Compare Gold Credit Cards:
Everyone loves to travel. As such, when you compare gold credit cards you will want to carefully examine the travel benefits that come with a particular card. In order for you to be eligible for this valuable reward you must book your travel and your holiday with your card. If you do this the credit card company protects you if you have an emergency accident while you are on holiday. One of the other valuable services is legal and medical aid that is just a phone call away while you travel overseas. Sometimes it is comforting, should you wind up in this unfortunate circumstance, just to talk to someone who can guide you through the steps of your emergency.
How To Use A Gold Credit Card
Most everyone wants to own gold credit cards because they give you a bit of prestige. But, if you are a smart spender you realise that there is far more then prestige that comes with being the owner of gold credit cards. Far too many people do not take the time to investigate the benefits of their credit cards and therefore fail to take advantage of them. Not taking advantage of the rewards you have earned is like throwing money out the window. You would not really throw cash out so why waste your rewards? This is where there is a bit of a learning curve when it comes to you and your gold card.
Gold Credit Cards And Your Spending
- The first thing you have to do as an owner of gold credit cards is understand your own spending habits. Once you know how you use your credit you can examine the different rewards to see which ones hold the most value for you.
- Are you a big spender? By this we mean do you use your card for just about everything, petrol, groceries, everyday expenses? If you do then you should look for gold credit cards that reward that spending.
- Will you pay your full balance each month? If you do not think that this is possible for you, then you might not want credit cards that only reward spending. You should look at cards that offer benefits regardless of the purchases you make.
Gold Credit Cards And Rewards
- Most gold credit cards offer a semi typical rewards system. Points are given in correlation with the amount you have spent. These points then translate into airline miles, gift cards, or discounts on travel or shopping. Obviously, the more you spend the more points you will earn. If you do this make sure that you actually use the rewards points. There is no sense in filling the coffers of credit card companies any further by letting your valuable points go to waste.
- One of the things that gold credit cards offer their members is the combination of high spending limits and low interest rates. Again, if you have large purchases to make take advantage of your gold credit card. You might be teased by offers from different shoppes for their credit card or lending service. Before you make any final decisions compare the interest with that of your credit card, even for expensive things like furniture or appliances. With a high limit you can surely afford to put them on your card and your interest rate might be lower then that offered by a shoppes programme.
- If you enjoy travel or are planning a special holiday look into the travel rewards offered by gold credit cards. You will probably find that all you have to do is book your trip expenses with your card and you are automatically enrolled in accident insurance. In addition you usually have a number that you can call should you run into an emergent medical or legal issue. This way you can get help from home in your time of need.
- If you make any sort of purchase with gold credit cards you might be surprised to know that many of those purchases are protected through your credit cards insurance programme. These programmes protect your purchases from theft or accidental damage or even loss. If you are choosing between cards look into the type of insurance they offer and pick the one that gives you the most protection for your purchases.
- Along those same lines is added warranty protection. When you use your card to purchase household appliances you are often entitled to an extra year of warranty on top of that offered by the manufacturer.
- Protecting against fraud is one of the biggest concerns credit card holders have. As a gold credit card member you are usually entitled to protection against fraudulent charges. Once you report or your credit card company catches a suspect charge you will not be responsible for those charges.
Gold credit cards are not available to everyone. Those who expect to receive on must have a minimum income in the neighborhood of $25,000 per year and a near impeccable credit file. These combined qualities tell the credit card company that you are a safe bet. They can give you a high credit limit because you are not prone to overspending and a low interest rate because they are confident that you have not only the means but the fortitude to repay your debts. Once you have the card take advantage of the rewards that you earned by having good credit. In this economy no one can afford to throw money, or rewards away.
How Do Platinum Credit Cards Work?
For many people platinum credit cards are a symbol of success. They are proof to the world that you have reached a particularly high threshold in terms of income and credit rating. In addition to this distinction platinum credit cards offer a variety of benefits and rewards that are not available to owners of less valuable cards. The saying you get what you pay for applies when it comes to these cards. If you have done the hard work necessary to earn a high income and maintain an excellent credit score you get rewarded for that through the use of these cards.
In particular owners of platinum credit cards are rewarded with a low interest rate and a high credit limit. Together these two things allow you more freedom in spending. Freedom you earned because your credit card company trusts that you have the means to repay your debt by virtue of your revenue and because you have repaid debts in the past. Platinum credit cards are not available to everyone, but even if you think you might not qualify you should do a bit of research on them so that you have a goal to work towards and an understanding of what maintenance of your credit file can do for you.
Rewards For Using Platinum Credit Cards:
First, the high spending limit allows you to buy costly items on your card. This gives you convenience and security. Whether you are spending for an emergency or for pleasure there are very few circumstances where you would be unable to purchase something with your platinum credit card. In addition, you can rest easy in the comfort of knowing that your interest rate is not so high that those expenses will wind up costing two or even three times their original price if you do not pay them off immediately.
There are other rewards available to holders of platinum credit cards. A valuable and usually free one is added insurance on your purchases. Some of this coverage is compulsory against accidental damage or theft for a set period of time. Usually it lasts for three months, but could be more or less depending on the credit company. There are some cards which offer something called refund protection which will cover the item if the store you purchased from will not. One of the great advantages of platinum credit cards is a cost match guarantee. These guarantees will actually refund you the difference in the cost of an item if you are able to find it at a lower price elsewhere. This saves you the hassle of making a return to get something at a lesser price.
Owning A Platinum Credit Card Protects You:
There is a big worry among many cardholders about fraud. If you have not been a victim of it yet you probably know someone who has had a card swindled or worse their complete identity stolen. Holders of platinum credit cards need to worry a little less about this issue. Scores of these cards have increased fraud protection services. They include not only simple refunds for fraudulent purchases but careful monitoring of your account for any questionable activity. Some cards take it one step further and actually protect you from identity theft. If your name is used to open a fraudulent credit account the credit card company will work to mend your credit file.
Travelling With Your Card:
If you are one of the people eligible for these cards chances are you enjoy things that cost a little more, like travel. As such, platinum credit cards reward you with travel advantages when you are on overseas holiday. Some of the advantages include travel insurance. Insurance polices vary greatly from card to card but some include accident coverage and inconvenience coverage for things like delayed flights or lost baggage. To receive these rewards you usually have to use your platinum credit card to pay for your furlough. Another benefit that most people hope they never need is legal or medical aid while on holiday. This is typically available with a simple phone call for assistance.
Like other types of cards platinum credit cards usually also have programmes that benefit you while you spend. These can come in the form of airline miles, cashback or points good for travel, gift cards, and shopping. Most also have zero percent or very low interest rates for balance transfers. This is a great benefit if you have other cards with high interest rates that you would like to pay off inexpensively now that you own a platinum credit card.
If you can own platinum credit cards you have distinguished yourself among the masses. You still get all the regular benefits like being able to use your card anywhere Visa, MasterCard, or American Express is accepted but you do so with added benefits and security. These cards usually require a minimum income and of course a tarnish free credit file. If you think you can qualify and do not have one yet then you are quite simply, wasting your time using another card.
How To Compare Platinum Credit Cards
When you compare platinum credit cards to other kinds of cards it is kind of a no-brainer. They offer higher spending limits and lower interest so obviously they are the kind of card that most people would like to own. However, not everyone is able to qualify for a platinum credit card. Also, among credit cards there are lots of different benefits available so if you can qualify you will want to do some good research to find the card that best suits you.
One of the very first things you should look at when you compare platinum credit cards to other kinds of plastic is whether or not you can get one. We live in a world where almost everyone is eligible for some type of credit card. The platinum cards are fairly exclusive with most requiring a minimum age, minimum income, and near perfect credit. The age requirement is anywhere from 18 to 25. The income minimums vary but at lest $50,00 is typical. As for the credit score it basically needs to be blemish free in order to receive a platinum card. If you are unable to qualify due to income the gold card line is the next option. If you are one of the people that has a troubled credit history there are cards made especially for your needs. You will not get the best interest rate or high credit limit but you will be able to rebuild so that in the future you might be able to own one.
Compare Platinum Credit Cards By Benefits:
For those of you who think you will make the cut you will compare platinum credit cards based on their benefit programmes. Like other credit cards they have some rewards that are based on spending. A point system is fairly typical of all credit cards. Some match your spending dollar for dollar while others reward more for higher spending or spending on specific items. The points can then be translated into cash, airline miles, or they can be used for shopping, special travel deals, or even donations to charity.
More important to check on when you compare platinum credit cards is the other programmes you are eligible for just for owning the card. Security is a huge issue for everyone. Whether you shop on line or in person it seems that the thieves have devised ways to snatch your card or card information. Fraudulent charges and identity theft are far too common these days, but platinum credit card owners get some extra protection in this area. Depending on the card you may receive extra account tracking for suspect purchases. You will be eligible for fraud protection services that refund any charges that are deemed fraud. Some cards take things a step further and will help you rebuild if you are unfortunate enough to actually have your identity stolen.
One of the other added benefits that many people do not realize is how beneficial it is to have a high credit limit coupled with a low interest rate. This combination means that you need not worry about most unexpected expenses. Whether it is a car repair or a spur of the moment getaway if you compare platinum credit cards you will quickly see that most can be used for any large purchase. Add to that the low interest rate you can spend knowing that your interest costs will not be excessive. There is a great amount of freedom that comes with this knowledge.
Platinum Credit Card For The Traveller In You:
Since these cards are only available to persons in a specific income bracket they also offer a reward that is of usually of great value to those people. It comes in the form of travel programmes. The programmes are different among different cards, again compare platinum credit cards to see which one suits your lifestyle the best. Travel insurance is a common offering which protects you in case you experience difficulties while travelling overseas. Some go as far as insurance for inconveniences like delayed flights or lost luggage. Further you can travel with confidence if your platinum card is one of the many that is there 24 hours a day to offer assistance in case of a medical or legal emergency. This is one of the benefits most people hope that they never have to use but it is nice to know that it is available, just in case.
As you go through the process to compare platinum credit cards you should first make sure that you will be able to qualify for one. Once you know that you are eligible then you can compare the benefits the cards offer. This comparison will allow you to get the card that makes sense for your lifestyle and offers rewards that you will really use. Not all card are created equal but there is no doubt that a platinum credit card is one of the most prestigious.
How To Use A Platinum Credit Card
Once you own a platinum credit card the onus is on you to take advantage of the rewards your card offers. This can be as simple as using it regularly but there are also credit card rewards that you might not know about and therefore might not be using. If you have qualified for a platinum card you have managed to do a few things right. For one you must have an excellent credit card rating to have qualified for this card. Also, there are income minimums that must be met, usually at least $50,000 per annum. The credit card company wants the business of people like you, people who will spend a significant amount of money and have the ability to repay it. By giving them your sought after business you earn rewards. Let’s say that again, you earned them. Since you earned them, you should not feel bad about taking full advantage of them.
Platinum Credit Card Rewards And Security To Explore:
There are common rewards among almost all credit cards. These rewards relate to your spending in that the more you spend the greater the rewards you receive. All cards have different programmes for their rewards, the best of the best will match your rewards dollar to point. These points in turn can be used for lots of different things. Some cards give you cashback, you can never go wrong with cash. Some translate to airline miles or savings on common purchases like petrol and groceries. Others still can be used for shopping, services, or even gift cards. In order to take absolute full advantage of this reward you should use your card as much as possible. Of course, the system of using your platinum credit card for all of your costs only works if you in turn pay off the card each month. If not then the interest might outweigh the value of the reward. If your spouse or responsible child can have an additional card you can increase your rewards that way also.
Hand in hand with using your card for every day purchases is the benefit of an increased spending limit and low interest rate offered on a platinum credit card. Because these cards have higher spending limits you can easily do your day to day spending on them. You can also be confident that in an emergency your card is there to fall back on should you need to make a large purchase. More comforting is the fact that a low interest rate gives you additional cushion in case you do not pay the full balance on a particular month.
Speaking of security, a platinum credit card offers excellence in secure spending with your plastic. Everyone worries about credit card fraud. Those who have been victims tell horror stories of losing piles of money from theft. In addition the hassle of rebuilding your credit once your identity or card has been stolen is not just a headache it is a migraine. If you choose the right card they will protect you and help you through this process. First as a platinum member your company will keep watch over your account for any spending that seems out of the ordinary. They will even go so far as to freeze your card if they see a potential issue until they can contact you to verify charges. Most cards provide forgiveness for charges that are fraudulent. If you are an unfortunate victim of identity theft, some credit card companies will help you rebuild your credit file. The value of services like this is truly immeasurable.
Travelling With A Platinum Credit Card:
Now that you have the distinction of owning a platinum credit card you will probably do what your fellow platinum members do, travel. The card companies have built in yet another reward for you when it comes to travel. Insurance for overseas travel is a big value. All you have to do is use the card for your booking expenses and you are offered all kinds of insurance. Not only do you get insurance on the actual expenses but lots of other insurance too. Some cards have inconvenience insurance which repays you if your luggage is lost or your flight is delayed. That, is travelling in style. As much as no one wants to use it, another valuable reward is emergency or legal aid while on overseas holiday. All you have to do is make a phone call and your credit card company will be there to help you. Just knowing that it is available will help you to breather easier.
If you qualify for a platinum credit card get one. Once you have it read every bit of the fine print so that you take full advantage of the rewards. Remember you did all the right things by keeping your credit file in check and your income high. You earned it so use it.
What Sort Of Features Come With A Gold Or Platinum Credit Card?
Personal 24/7 concierge service, free travel insurance, contents insurance, discounted goods (entertainment, car hire etc), purchase security, cover and warranty, and commission free traveler cheques are some of the benefits possible out of a prestige card. Some credit cards will feature more features than others.
I’m Interested In One Of These Cards But The Annual Fees Are So High!
Just like a car, the more features and classy it is, the more expensive it will be to maintain. Some of the cost will also go into the brand name or ‘gold/platinum status’ of the card.
Are There Any Specific Requirements For These Cards?
Generally, you’ll need a positive credit history. The majority of these cards also have a minimum annual earnings requirement of around $70,000, so unless you can prove you earn at least that amount per annum, it may be smart to pass your interest to a regular, cheap credit card.
What’s Going On With The Frequent Flyer Program?
While ‘direct earn’ credit cards are still available, as of April 1st you will no longer be able to transfer your bank reward points over to Frequent Flyer points.
As a general rule of thumb, Gold credit cards require $40-50k annual earnings to application approval, while Platinum credit cards sit at $60-70k.
How To Use Gold And Platinum Credit Cards To Earn More Rewards Points Faster
There are plenty of differences between standard credit cards and gold and platinum credit cards, but many people tend to think of these premium cards as being more expensive. They also once had more stringent approval criteria that might have meant being more difficult to qualify.
These days, the minimum income requirement is much less than most people think and the fees and charges are now comparable with standard cards. However, it’s the benefits of being able to accumulate rewards faster through the rewards program that can make these cards stand out from the crowd.
The old stigma of gold credit cards or platinum credit cards being more expensive, or having more stringent criteria is long gone. These days, the fees and charges are very comparable to classic cards, but they also offer some benefits that you may not get with other accounts.
Aside from most credit card providers offering enhanced opportunities to earn extra rewards points, cardholders can benefit from superior service, which may include personal concierge services and 24/7 phone booking services.
Gold and platinum card holders may also qualify for extra insurance coverage, which can include complimentary travel insurance, purchase protection insurance and extended warranty on purchases.
Premium cardholders may also benefit from discounts on items such as retail, entertainment or wine simply because these cards are frequently affiliated to exclusive schemes.
But perhaps the opportunity to earn more reward points, more quickly can be a benefit to many account holders.
With a standard credit card, you’ll usually earn 1 point for every $1 you spend using your card. However, with gold credit cards you could earn 1.5 points per $1 and with platinum credit cards you could earn 2 points per $1 spent on your credit card.
This means you’re able to earn more rewards points for spending the same amount of money on your card.
Bonus Rewards Points
Many of the premium credit cards accounts also offer the opportunity to earn plenty of bonus rewards points on top of your regular points. A good example of this is some credit card providers offering bonus rewards points when you activate your card or when you use it for a purchase the first time.
Gold credit cards and platinum credit cards may also have affiliations with bonus partners. By purchasing through these partners you can earn additional rewards points, and if you use your card to pay for the purchase, you could be earning points twice on the same purchase.
If you regularly use a credit card, then you could benefit from the increased opportunity to earn extra rewards points.
How You Can Accumulate Rewards Faster
Most major banks offer gold and platinum credit cards that also offer a rewards program. The difference with these is that customers can accumulate rewards faster by using a gold credit card to earn 1.5 points per $1 spent using the card, while platinum credit card holders can earn 2 points per $1 spend using the card.
This can allow you to earn far more rewards than a standard credit card for spending exactly the same amount of money.
You can accumulate rewards faster simply by choosing a gold or platinum card over a standard one, but to further increase your reward points you should take advantage of bonus points. These premium cards offer a greater choice of bonus points’ partners, therefore making it more likely for you to find stores that you normally frequent. Some cards even offer bonus points for card activation, first purchase, and other one-off events.
Keep an eye out for these bonus point events, and move your regular shopping to one of the participating bonus partners. In no time you will accumulate rewards faster than you ever could have with your standard card.
Enhanced Reward Points Earnings
Gold and platinum credit card providers may also offer bonus rewards points when you activate your credit card, or when you use the card first to pay for a purchase.
You’ll also find that premium credit cards will also usually offer the chance to earn further bonus points when you shop with their Bonus Partners, who offer additional reward points for shopping with them.
If you use your credit card to pay for your purchase, you could potentially be earning points twice on the same purchase.
Other Benefits of a Gold or Platinum Card
While the opportunity to accumulate rewards faster is a great incentive, there are other reasons to consider these cards. Cardholders can benefits from extra levels of service that may include a personal concierge service of 24/7 booking service.
You may also receive extra insurance benefits that could include complimentary travel insurance, purchase protection insurance and extended warranty on your purchases.
- Superior Service – Gold and Platinum cards entitle the cardholders to services which are unavailable to standard cardholders, such as round-the-clock telephone service to ‘personal concierge’ services.
- Extended Insurance – In addition to standard insurance you can get complimentary travel insurance, a warranty that extends the manufacturer’s provided warranty, extra purchase protection and fraud protection etc.
- Low Travel Money Commissions – Many gold and platinum cards allow you to buy traveller’s cheques and foreign currency at lower commissions.
- Deep Discounts – These premium cards often have very good discount offers on a wide range of stores and services.
Most people shy away from the thought of Gold and Platinum Cards, thinking of them as being too expensive or otherwise unsuitable for their needs. But if you are someone who’s got their finances under control and spend a fair amount on credit card purchases, you might find that the benefits of these cards outweigh their costs.
The most obvious benefits arise from a superior rewards program attached to the cards, as well as the ability to accumulate rewards faster on them. With increasing competition among the banks the annual fees of gold and platinum cards have decreased, as well as the yearly income figures required to obtain one. You might be surprised at some of the current offers out there, so don’t hesitate to ask your bank (or their competitor) about it.
* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from. ‘Best and ‘Top’ are ratings which are subject to our consideration and is not rated against all Australian credit cards. We recommend you take this information into account when comparing credit cards.
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