Help Desk

What are Gold and Platinum credit cards

A gold or platinum credit card can feel like a symbol of prestige to some people. They can feel like a real status symbol to some holders. A higher level of income is usually required and they are typically only available to people with a good credit rating. Perhaps therein lies the reason that people like it known that they own a gold or platinum card. In most cases the interest rates do not differ greatly from regular cards.

These symbol cards usually offer higher cash withdrawal and credit limits than standard cards. Gold or platinum cards also more often than not have other benefits for their holders, which may include travel insurance, purchase protection insurance (PPI), extended warranties for household appliances or special deals on particular products. Some even have loyalty schemes as well with cash back or reward points on offer depending on how much you use your card

Do I have to pay extra for a gold or platinum card?

It's rare that there's an annual charge of any sort these days, but it's still something to look out for when you compare credit cards. Different credit card companies have different offers and interest rates coming on to the market all the time. Compare credit cards now and make sure you are aware of the best platinum cards and the best gold cards that provide maximum value and performance for you before you make an application.

How will a gold card help to lower my bills?

Depending on the credit card offer, there's likely to be a good 0% balance transfer period, a 0% on purchases period, but not only that, there'll also possibly be added gold card advantages, such as generous discounts on everything from wine to car hire, that could see you making savings throughout the year.