Platinum Credit Cards Are What You Want To Have
Platinum credit cards are considered as the most reputed credit cards and to get a platinum card,
one requires proving his or her credentials.
They are generally offered to those individuals with good credit ratings and an income of around 20,000 per annum or more.
Beyond the sex-appeal of the card itself, a platinum card often has a much higher credit limit than your run-of-the-mill card and obtaining one isn’t always as easy as obtaining the lower level credit cards.
Most companies require applicants to have a good credit score to receive the platinum credit card since platinum credit cards offer benefits above that of other credit cards.
The credit score requirement is related to the amount of credit the card issuer gives with the platinum credit card.
Since the credit limit on a platinum credit card is higher than most cards, the card issuer must have some assurance that the cardholder will pay the balance in a timely manner.
Platinum credit cards have far more benefits and features compared to a standard or gold credit card and platinum credit cards usually have a lower interest rate than regular and even gold credit cards.
Once you have shown credit card companies that you have the ability to pay your bills and you’re not a risk, they just might offer you a platinum credit card.
As long as you pay the bills on time and build your credit then you may be offered a platinum card in as little as three months. Platinum cardholders work their way up the ranks by paying and establishing better credit for themselves.
So what makes a platinum credit card different from others? When you use a platinum credit card for shopping or any other transaction, you are awarded reward points depending on the amount of the transaction. Generally, one gets a reward point for each dollar spent through the use of credit card.
Unlike the regular credit cards, platinum credit card offers you a fixed rate. The other advantages of for the platinum credit card holder include rental car insurance, travel accident insurance etc.
Some of the great advantages that may be associated with platinum credit cards are: as mentioned before, lower interest rates, plus higher credit limits, more frequent credit limit increases, no annual fee, more benefits, savings and rewards, including: fraud protection service, cash back programs, and frequent flier miles.
These credit cards offer such great rewards because credit issuers are trying to cater to people with excellent credit.
Platinum credit cards are usually advertised through television or newspapers, direct mail or telephone solicitations.
The rules for offering platinum credit card vary from company to company. If a credit card company sees that you have outstanding credit, they are going to want to keep your business, which is why so many companies offer platinum credit cards, to set you apart from the people with just good credit.
Being offered a platinum credit card is a company’s way of rewarding you for having great credit, while at the same time trying to attract, or maintain your business.
In nearly all cases, platinum credit cards are offered to those consumers who use their credit card to make a relatively large amount of purchases.
A platinum credit card can be a good choice if you frequently use your credit card for your routine and high purchases and pay back the whole debt at the month end.
The low interest rate is a reward to platinum customers for the amount of purchases they make using the platinum credit card.
One of the best ways to get the platinum credit is to search for it on the internet. Students usually don’t have platinum credit cards because they do not have excellent credit, nor do they often own homes or other larger assets with which credit might be built.
A platinum card can be a wonderful financial tool for managing you daily spending. With low interest rates, great benefits and high credit limits, the appeal of platinum cards make them very desirable to the vast majority of credit card holders.
You may or may not currently have a platinum card, if you do not, consider getting one. If you do have a platinum card, maybe you should select another one or two.
What Are Platinum Credit Cards?
Conventional school of thought would find platinum credit cards to be a status symbol. However, relaxed rules and upper limits have brought them within reach of the average person too.
A platinum credit card can be a good choice if you frequently use credit card for your routine and high purchases and pay back the whole credit at the month end.
You get a high limit of credit and sometimes no limit at all if you show a high earning power of annual income £25,000 or more. However the actual high level of credit you’ll get depends on your income and credit rating.
Platinum card owners are privileged because they do not have to pay the usual high interest rates on credit. Generally there is a low or no annual fee.
Since, maintaining a platinum credit card can prove to be a costly affair in the long run if not used and managed properly.
A number of credit card companies offer special facilities such as:
- Protection against accidental injury, sickness and involuntary unemployment
- Protection against card theft and loss
- Online credit card fraud protection
- Travel insurance and special travel services
Flexibility to share it with friends and family
Platinum Card Guidelines
There are certain things you must never overlook while signing up for a platinum credit card.
Make sure you spend only that much amount that you can easily payback because even if you fail to pay one monthly payment it will account for a negative credit rating.
Bottom line is that the benefits should always amount up to more than you pay.
How to compare Platinum Card Offers
The idea of acquiring a Platinum Card may be alluring, but before you make that all important decision on the card of your choice, it may be wise to pay attention to the finer details or differences before making a choice.
Indeed, the variations in terms of interest rates, reward points or even credit limits of different credit cards are able to bring significant value to consumers.
In general, platinum cards have higher credit limits and thus require applicants to possess a good credit history. However, certain credit card companies raise the bar on applicants by setting requirements for certain criteria to be met before approval.
For instance, while some platinum credit card companies require a minimum annual household income of $35000, others pose a higher limit of $60000.
Apart from that, certain credit card applicants need only be 18 years of age, while some others may limit their customers to the 25 and above age group.
Furthermore, when it comes to APR and credit history, things are never as clear cut as they seem to be. After going though their customers’ credit report, card providers may categorize these applicants into different levels of credit health. This could mean a difference of between 4% and 8% on the applicants APR.
It is also the norm for platinum cards to offer lots of benefits in line with their relatively low APRs. However, this could mean that credit card users may be paying for their rewards through high annual credit card fees.
Some platinum cards may require an annual fee of $300 while others waive this fee for the first few years.
Another variation to this is platinum credit card companies that waive their annual fees for those who charge a stipulated minimum amount within a specific time frame.
Nevertheless, platinum card users may still be bogged down with other high fees such as transaction fees, card replacement fees or late payment charges.
Finally, consumers should check out the rewards that come with a platinum credit card. Applicants should always pick a card with rewards that are suitable to their needs.
If they travel a lot, then a platinum card with travel reward benefits would be more suitable than another with cash-back rebates.
Chase Platinum Credit Card: Chase Extends Promotional Period
Consumers looking to obtain a new credit card may just want consider the Chase Platinum Visa card. The Chase Platinum Visa card has been in existence for a long time, but just recently some strong improvements have been made by the J.P. Morgan & Chase Co.
making the card a strong competitor in a highly competitive market. Is the Chase Platinum Visa card right for you? Please keep reading to find out for yourself.
Extended Introductory Rate
In the credit card business, all the top cards are still offering 0% APR for an introductory period. Six months is the standard length of time, with some offering a twelve month introductory rate period.
Chase, on the other hand, recently served notice that they are extending this introductory rate out for a full fifteen months to qualified customers! If your credit history is good and your application is in order, you may be eligible for this extended introductory rate offer.
Balance Transfer Offer
When applying for the Chase Platinum Visa card you’re eligible to transfer balances from high interest rate credit cards to your new card.
You could potentially save yourself hundreds of dollars in interest costs by transferring your balances to your new card.
No Annual Fee
Many platinum or premium credit cards charge annual fees, but with the Chase Platinum Visa card no fee is assessed.
Free Travel Accident Insurance
Chase Platinum Visa cards offer up to $500,000 in travel accident insurance, an amount much higher than what most credit cards are offering today. Save money on insurance premiums as the Chase Platinum Visa card plan includes this type of insurance for free!
Free Car Rental Insurance
Use your Chase Platinum Visa card when renting a car and your rental insurance is completely covered too. For a one week rental, this type of insurance could easily tack on an additional $100 to your bill. With the Chase Platinum Visa card you are completely covered.
Chase’s offer is all the more remarkable in the face of constantly climbing interest rates. As you probably already know, most credit card rates continue to rise along with the upward swing in all consumer rates.
Thus, the Chase Platinum Visa card is truly a unique opportunity for the savvy consumer.
So, if you have a good credit rating and are in need of a new credit card, the Chase Platinum Visa card may be just right for you.
With credit card rates surging, taking advantage of a card offering 0% APR for 15 months is a surefire way toward saving yourself plenty of money.
Why Get A Platinum Mastercard Credit Card
With all the types of credit cards available in the market today, it is very confusing as to which kind of credit card you should choose.
There are the regular credit cards, the gold credit cards and then there are the platinum credit cards. You would also want to choose which credit card payment system is suitable for you.
One type of credit card is called MasterCard. A MasterCard credit card is one of best credit cards available in the market today. With rates and rewards that you can greatly benefit from, you would really get attracted to a MasterCard credit card.
There are also different kinds of MasterCard credit card that you can choose from. If you frequently use your credit cards to make a purchase, Platinum MasterCard credit card is the perfect choice for you.
Platinum MasterCard has advantages over other types of credit cards and can work for your advantage if you have this type of credit card in your wallet.
Platinum MasterCard credit card is a very useful tool, inexpensive and can really accommodate your needs as a consumer.
One advantage of a Platinum MasterCard is that annual fees are non existent. An annual fee is what a credit card company, like MasterCard, charges you by using the card. In Platinum MasterCard, you don’t have to pay a single cent on annual fees.
Without an annual fee, you won’t feel obligated to use it since you won’t be charged for anything that you don’t use. This means you can control your spending.
MasterCard is one of the most widely accepted cards by merchants all over the world. This means you can use the Platinum MasterCard to pay for purchases anywhere you are in the world that accepts credit cards.
If you are a Platinum MasterCard holder, you will qualify for a significantly higher monthly credit limit. This means that when time comes that you need big purchases you can do so with a Platinum MasterCard.
Also, with a higher credit limit, you can be sure that this particular card can help you in almost any spending situation.
However, in order to be qualified for a Platinum MasterCard, you need to have a considerably good credit rating.
Without a good credit rating, you will find it hard to get a Platinum MasterCard or get rejected in your application. It is therefore wise to think of your credit rating first before you apply for a Platinum MasterCard.
If you are sure that you have a good credit rating, try applying for a Platinum MasterCard. Once you get approved, you will see all the benefits that you can have with a Platinum MasterCard.
So, if you need a credit card with no annual fees, higher credit limits, a very useful card, you can find it all in a Platinum MasterCard.
With a Platinum MasterCard, you can be sure that you will have something to turn to in case you need to purchase anything and anywhere in the world.
All you need to do is maintain a good credit rating and you will indeed qualify for a Platinum MasterCard. Once you get a Platinum MasterCard, you will see the difference from a regular credit card.
So, the next time you are considering getting a new credit card, try to think about Platinum MasterCard. This will work for you and can really give you that extra leverage in spending you need.