Monday, December 22, 2008

The Supremacy of the 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 is also a credit card with great value. It is also accepted anywhere in the country and in other countries. With a reasonable percentage rate of interests and will maintain its rate as long as payments are made on time.

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 another credit card that is suitable for people who can afford the payment but prefer the 0% annual fees and low introductory APR. The APR will remain low if the payments are made on time and good credit score is maintained. This card also gives high spending limits to cardholders with rebates and bonuses for every purchase. Online account is also accessible anywhere.

Platinum card suits people with high income and financial capacity. Individuals who are qualified to avail credit cards would prefer the Platinum credit cards rather than the silver or gold credit cards. This is because Platinum credit cards can provide many services such as concierge services, travel services, and other important and essential VIP services as demanded by the professional cardholders.

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.

There are cards which are advertised that are called platinum shopping cards. These platinum cards are not to be confused with a regular credit card. Although they are credit cards, they can only be used to buy merchandise at the participating stores. They do, however, report to the credit bureau so they can help to build your credit score up by using it to purchase merchandise and keeping the balance paid. - 16492

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