The credit card companies all over the world offer two different kinds of cards, the platinum credit card and the Gold credit card. These are also available in Australia as well. One might be wondering what could be the difference between the two. The two cards are issued based on the FICO credit score of a person, which is calculated for each of its clients by the credit card company or the bank. The FICO credit rating is a combination of a person’s payment history, amounts owned, length of credit history, recently opened accounts and the various types of accounts.
Basically a higher FICO credit scoring warrants a platinum credit card and a Gold credit card for a slightly lesser credit rating. The platinum credit card offers cheaper interest rates .The platinum card usually offers unlimited credit to the client.

They also require cheaper or even no annual fee and benefits include travel insurance and fraud protection.
Gold credit cards on the other hand require an annual fee but a lesser credit scoring. However the credit allowed by the Gold credit card is much better than the standard credit cards. It is important to choose the right credit card to get the best deal out of it in terms of additional incentives and cheaper interest rates.

Some of the top credit card issuers in Australia are the HSBC, Citibank, ANZ and Aussie. A typical gold visa credit card could be obtained for a low annual fee of 89 aud .The ANZ gold visa card charges an interest rate of around 17% with a 55 day interest free period. A CitiBank Platinum card charges around 19% interest rates with 45 day interest free period. The highlight of the platinum card of course is the unlimited credit limit.

The final question is of course how to increase the credit scoring. By paying bills on time, by reducing applications for credits and by reducing credit card balances one could strive for better credit scores. As a last word, one must emphasize on choosing the right credit card issuer who gives the best deal.