Does It Mean Anything That My Credit Card is a Gold Credit Card

When shopping around for a credit card you might notice all the different levels of credit cards available. Some are advertised as silver, others are advertised as gold or platinum. Is there really any difference in these cards or is it just a marketing ploy to make a credit cards look more appealing to the consumer?
The answer is yes, there are difference between a standard card and a platinum card. A standard card is going to be more appropriate for someone that is looking to pay off credit card debt or for someone who feels that having a low interest rates and small annual fees is important. Platinum cards were not designed to be used by someone that might be carrying a high credit balance. These credit cards do not generally offer lower interest rates and therefore would make it harder for someone to pay down any outstanding debt that they might have.
So what is the benefit of having a platinum card you might be wondering? Simply put they have fringe benefits that will not be offered on standard cards. These benefits can probably be found in the way of a fancy rewards program or cash back credit cards. Things that you might also see featured on a platinum or gold credit card would be travel insurance if you purchase your air fare using the card.




Filed Under: Credit Cards

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