Tuesday, December 23, 2008

Platinum Credit Cards

By Gray Rollins

Credit cards are categorized in three different levels; the Standard credit card, the Gold credit card, and the Platinum credit card. Among the three, Platinum credit card is comprised of more benefits and purchasing power, making it as a status symbol in the society. More cardholders would prefer this Platinum credit card because of the benefits and privileges it extends to the customers who are qualified to avail it. High income and clean credit scores are one of the qualifications.

The American Express Platinum card, a highly prized card, is the most preferred card by cardholders because of its benefits such as the highest credit limit of up to $100,000, VIP treatment given to cardholders, worldwide access and acceptance, travel services, financial services, account online access, and many more as you keep using the card for the longer period of time. Another benefit of the use of American Express Platinum card is the reward points of 1.5 per purchase made.

MasterCard Platinum credit card is another card that is accepted worldwide and offers reasonable interest rates for purchases. The MasterCard credit card company only requires prompt payments to maintain the reasonable percentage rate.

Those professionals who are earning higher income and are qualified to avail MasterCard Platinum but the interest rate for this kind of credit cards usually increases, especially when the payment made is only for the minimum outstanding balance for the period. To avoid 35% rate increase on interests, pay the balance due for the month on or before the due date.

The Discover More Platinum credit card is a card with high spending limits and no annual fee. The introductory period offers a low APR and as long as you maintain your good credit, the APR does not increase a lot. The rebates you can earn on practically anything you purchase are enhanced with bonuses at certain places you use your card. With online account access, this is a card that can be quite worthwhile if you maintain your credit rating.

When you are eligible for a platinum credit card you will have more benefits from this card than either the silver or gold credit cards. The platinum card has always been reserved for those with an income level that is above average and the financial savvy to keep their credit at excellent levels. Platinum credit cards have many services, such as concierge services that are part of the benefits of qualifying for this card.

Platinum credit card is also offered to business institutions for their company purchases. The features of the business credit card are the same with that of the personal credit card. Some credit card companies offer the platinum business card with no APR on the first twelve months and low APR thereafter, while some offer no annual fee. To avail the 3 to 25% discount on purchases, buy the materials your business needs from those stores affiliated with the credit card companies.

Platinum credit shopping cards are also available in any credit card company. This card is not like the regular credit card that can be used for any type of services; this is just meant for shopping. Purchases made through this card will also be reported and posted in your credit history and payments made will also be reflected to the credit score. - 16752

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