Silver, Gold and Platinum credit Cards

Aside from all being costly metals; silver, gold and platinum also signify the variation between the assorted strata of credit cards available to cardholders. So, what's the variation between you having silver, gold and platinum credit cards?

Besides the kudos of having a metallic covered card in a stratum higher than the one below it, with silver being determined the lowest, gold next and platinum at the peak, these days there de facto is minuscule variation between each of these cards. Two noticeable exceptions are:

Bank Orchard

Spending Limit

Although the cards are supposed to signify a higher credit limit and spending power, in fact what they do is act as a signal as to you supposed income. This is because as you go up in the line of colors, so (supposedly) should your revenue - and thus your spending limit. The only qoute with this is that while the platinum card used to be an 'invite' only card, these days the qualifying salaries for each of these cards are set so close together that you do not de facto need to earning that much in order to qualify for a platinum card!

Membership Fees

These days the whole you need to pay in every year membership fees to card providers is the biggest variation between these types of credit cards. In part due to kudos element, card issuer feel at liberty to charge cardholders of platinum cards far more than they do to those who hold silver cards, which may, indeed, even be free of a membership fee!

So, while your spending limit may not be that significantly higher having a platinum card rather than a silver card, your membership fee approximately safe bet will. The decision that you have to make, assuming you qualify, is whether you are willing to pay that extra whole in membership fees to have a higher ranking card. And by adopting a procedure of silver, gold and platinum credit cards, the issuers are banking on you doing wanting just that!

Silver, Gold and Platinum credit Cards