Platinum Credit CardsBeyond the sex-appeal of the card itself, a platinum card often has a much higher credit limit than your run-of-the-mill card. The minimum is usually $5000, and numbers in the range of $20,000 are not uncommon. These cards often have a lower interest rate as well, as is typically the case with any type of credit issued to a more qualified (better fico score) credit customer. Be careful though, as with any other "fad", this category started with higher credit rating lower interest rate cards for more affluent customers. Then other card marketers latched onto the idea and made the most of the "Rich and Famous" cache of a fancy platinum card and began to offer "Platinum" cards with no benefits except the pretty plastic. Shop around and make sure you are getting the genuine article if Platinum Cards are right for you. |