Compare Platinum Credit Card Offers
Platinum credit cards are for those Australians that have a higher that average income and excellent credit rating. The benefits of platinum credit cards give you a higher credit limit, more rewards and perks than your normal credit card. Platinum credit cards offer you a wide range of extra features that can include:
- Free Travel Insurance
- Extra bonus points for frequent flyers
- Extra bonus points for rewards programs
- Higher credit limit
- Improved customer service
- Booking privileges for special events and concerts
- Complimentary services
In Australia, there are 4 main types of credit cards: Visa, MasterCard, American Express and Diners Club. All of these offer 3 categories of cards to choose from depending upon your requirement and previous track records of usage of your credit cards. These are Silver, Gold and Platinum credit cards. The major difference between them is the credit amount attached to it, special benefits, annual fees etc.
Silver Credit Cards: Silver credit card is the lowest in the hierarchy of these 3 types of credit cards. So, they are commonly called as ‘standard’ or ‘basic’ credit cards. For many Australians with a very basic credit card usage this type is the best deal. There are many advantages that silver credit cards have over the other two types. Zero or low annual membership fees, lower threshold salary requirement etc. are some of the benefits of silver credit card. The disadvantage could be lower cash withdrawal limits, less rewards in rewards promotion packages and less prestige, if it really matters.
Gold and Platinum Credit Cards: These cards are basically aimed at the high end users whose spending power is towards the upper side. These cards generally come with higher interest rate, more annual fees and late payment fees as compared to Silver credit card. Gold or platinum credit cards come with terrific products attached. So, though they come at a higher price but many special benefits and products come attached with it. Some most common free products which most credit card companies offer are some kind of Insurance plans, entertainment offers, gifts and store deals. These cards give the customers not only higher status but it also gives them some preferential service with any card enquiry's you may have. The gold and platinum credit cards also have the rewards program for frequent flyers. Many of these credit card companies have tie-ups with other companies so that if you are using your card at one of the program partners you receive more reward points or some discounts. While choosing between the gold or platinum credit cards, you should go through the details and see the full list of benefits associated with the different gold and platinum credit cards. Many credit card companies even give option for add-on cards with gold and platinum credit cards.
It’s simple, if you are not concerned about the ‘image’ you portray while flashing your credit card, and are more concerned about how you manage and take benefit your credit card, then silver credit cards are certainly the best deal to go for, even in terms of saving some extra annual fees.
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.
