Platinum. Preferred. Premier. Gold. Priority. The above words often show up in credit card names, but what do they actually mean? There isn’t truly a standard, and since the names have more to do with marketing than anything else, the definitions differ greatly from lender to lender.
The word “platinum” may be in a credit card’s name to indicate a higher level of benefits and rewards, but the tag may also be used simply to distinguish it from other card offerings. Depending on the originator, a platinum card may be a premium card, a credit-building card, or something in between, so it’s important to look at each card offer separately.
UA Platinum card is a card with more reputation and benefits than a gold or regular credit card. Credit cards pursue the same logic as the valuing of precious metals! Just like a platinum ring is more costly than a gold ring, the platinum card relishes higher status than a gold card. A Platinum card provides several tangible benefits when compared to other regular credit cards, and is also in demand for its image as a prestige card for sophisticated customers.
What are the features of a Platinum card?
A Platinum card can be one of the most costly cards to own in terms of annual fees (where applicable), but it also provides several benefits to cardholders. Each credit card provider offers its own set of exclusive privileges to its Platinum customers and could include:
High or unstopped credit limit: Platinum cards have a superior credit limit than regular or gold cards, giving you much more flexibility in spending.
More rewards points per rupees spent: These cards will give you more winning points than other credit cards for the same amount of money. You can recover these points for a variety of gifts or vouchers. So, for instance, if you get a reward point for every Rs. 100 spent on your regular credit card, a Platinum card could give you 1 reward point for Rs 50 or perhaps 2 points for every Rs. 150 spent. Every bank or credit card company has its personal rewards programme.
Travel privileges: You can get savings with Airline Partners, free membership to hotel rewards programmes, and flattering access to airport lounges. You can also avail of custodian services to help you on travel and amusement options.
Leisure: Some cards provide vouchers on movie tickets. You can assist with complimentary golf at premium courses across the country and enjoy savings at hundreds of restaurants.
Should you apply for a Platinum card?
Which card you apply for depends on your separate spending discipline, repayment behaviour and credit eligible high income to qualify. However, you need to have a good credit history (and a score of 750 or above) and also look at whenever the benefits are of use to you.
Charges: Don’t forget that these cards do not come cheap – while some issues might waive charges, in general the annual fees can be quite precipitous.
Credit limit: If you are subject to spending freely, having a high credit limit can get into debt.
If you are sure of clearing your balance in full and on time, and if you think you will use the benefits, you should consider applying for a platinum card. While a platinum card may seem glamorous and desirable, keep in mind the essential plastic details behind the shiny metal frontage before you make a decision.
Platinum cardholders normally earn more rewards points per $1 spent than gold cardholders. Platinum cards give higher minimum credit limits than gold cards, which can be a bonus if you pay out a lot on credit and can responsibly manage your credit card payments.The credit score required for the American Express Platinum is generally above 700.According to Credit Karma, the average score is 715. Although, some applicants with credit scores in the 600s have also been approved, even as low as 643.Cardholders also get an Cash back credit period of 20 to 50 days which is applicable for retail purchases.
The cash advance limit for SBI Platinum Card is 80% of the credit limit.
The Platinum Card® from American Express be paid Membership Rewards points, which offer flexible saving options that vary in value.Platinum credit cards may have a diversity of rewards or other benefits—or none at all. If a platinum card you’re interested in offers a high level of cardholder cheer up, your credit likely requires to be in decent shape before you can qualify.
When your credit is below standard, you may not be able to qualify for the credit card in question and may have to range over other options. Secured cards, for example, assist you build credit, but they need a deposit and have a low credit limit, and there are usually no rewards or benefits.
Those persons credit is in better shape may be able to eligible for a higher-tier credit card. The credit score minimum and other instalments credit criteria vary from lender to lender, but certain credit cards may provide lower interest rates, higher credit limits and more cardholder benefits than cards that may be easier to be accept for.
Nearly a year into the COVID-19 pandemic, credit card issuers are still making accustoming to their reward card offerings. In an attempt to provide new and existing cardholders with the opportunity to maximize reward earnings, American Express freshly announced changes to some of their most popular cards.
American Express disclosed New Rewards for Platinum Card®
As it became clear that the pandemic would significantly change how we spend and what we purchase, American Express took steps to update their high-end reward cards to continue presenting value to cardholders. With some people traveling, shopping and eating out, earning points on bonus cards like the Platinum Card became more of a challenge.
In a current update, American Express announced even more saving probabilities for the Platinum Card in 2021, including a monthly PayPal credit and exclusive Amex presents of more than $1,000 in savings.
Our country has reached that economic point where the corporate culture is keep posted at a great pace and is almost there. This corporate culture in the banking and financing field has been nothing short of a miracle that has led to the presentation of credit cards. The terms and conditions of credit cards are well-accepted and competitive schemes that showers the users with rebates and free gifts has only attracted the majority more and more to this credit card culture.
The new attractions are all part of credit card providers’ determination to make credit cards the top go-to swipe option for clients in light of recent RBI guidelines. Your SBI Platinum Credit Card sees to it that you are generously rewarded at every stage of your life.
- SBI Platinum Credit Card – Key Features
- Benefits worth Rs 12,000/- every year
- 5X bonus points on International, Dining and Grocery spends
- Welcome gift worth Rs.3000/-
- Entry to over 600 airport lounges through a priority pass
- Benefits of SBI Platinum Credit Card:
- When you enlist for this card, you get a welcome gift- coupon for INR.3000.
- You will bring in reward points for spending in supermarkets, international travel, restaurants etc.
- You can acquire entry to around 200 Golf Courses in the world as a complimentary gift.
- Get free access to the airport lounge using the Priority Pass Program for little or nominal fees.
- SMS, Email notify and monthly statements will make sure that you are informed of your card performance and transactions.
- If you spend more than five lakh rupees per year, you are qualified to get a free domestic air ticket (one-way).
- Utilize the card for above one year and start the next year with an anniversary gift coupon worth INR. 3000.
- You can simply handle your platinum Card account using netbanking.
- Alerts to make sure that your expediency bills are paid before the due date which will also bring more reward points.
- There is also the Easy Money Facility. Appeal for a bank draft, which will be later debited to your SBI Card account.
The Capital One Platinum Credit Card is the best option for those with average credit. It has an annual fee of $0 and also charges no foreign transaction fee, but for many, its exceptional feature may be that it also provides the chance to bring in a higher credit limit after you make payments on time in as little as six months.
Features of SBI Platinum Credit Card:
- An SBI Platinum Credit Cardholder can receive up to 40,000 recoverable reward points in a year.
- But for premium laze entry and golf club access, you can trail your account anytime anywhere using your phone or online bank account.
- You can also obtain e-statements for every transaction done with your card.
- SBI Platinum Card provides you with a free Easy Bill Pay method to make sure that you pay all your utility bills before the due date. This will also bring in more cashpoints.
- In case of theft or loss, the card will be instantly replaced if you give detail to the 24*7 helpline.
How to Apply for SBI Platinum Credit Card?
Come upon BankBazaar.com and browse through the SBI credit cards page. You have the option to either explore or check your suitability for different cards. BankBazaar will give you a list of carefully chosen credit cards as per your requirements. Tap on ‘Apply ‘and type down your personal details to apply for the card immediately
