A platinum credit card or a gold credit card is a prestigious credit card with added benefits.
The perks vary from card to card. Some charge fees, and others don’t.
Some of the popular choices include the Amex Gold, American Express Gold, Barclaycard Visa Platinum, Barclaycard Gold, and First Direct Gold card. But there are lots of other options too.
Gold cards are considered to be a tier above standard credit cards, and platinum cards are a tier above platinum cards.
Are gold credit cards and platinum credit cards worth having?
Gold credit cards and platinum credit cards are considered elite. There’s no specific set of features that every one of these credit cards offers, but they do come with a range of different perks.
Some of the benefits and rewards could include:
Cashback, vouchers, air miles and other reward schemes
A higher cash withdrawal limit
Lower fees for using the card abroad
Bundled travel insurance
Lower interest rates
0% deals for purchases and balance transfers
A higher level of protection on your purchases
Complimentary extras such as airport lounge access
A bonus point scheme.
These features aren’t exclusive to gold or platinum cards. and could come with other credit cards too.
Where can you find a gold credit card or platinum card?
You’ll find exclusive credit cards UK wide.
The table above lets you compare gold cards and platinum cards so you can find a premium credit card that suits you. Every card in the UK is listed including the American Express Gold Card, Amex Gold Card and Barclaycard Platinum Credit Card.
You can see the APR, balance transfer deal and interest-free period offered by each one.
Are gold and platinum cards the best cards available?
Some of the best cards on the market are gold and platinum cards. From the Barclays Gold Credit Card and Amex Gold Credit Card, to the Platinum Visa, there are many gold cards and platinum cards available.
But, before you decide whether to go ahead and apply for a platinum credit card or a gold credit card, check to make sure you’re getting the best deal. It’s not worth getting an exclusive credit card just as a status symbol. You might be able to get a better card by just looking for the specific features you need.
Compare cards that are designed specifically for what you need, so you can get the best possible deal. We have comparison tables for cards that offer the following:
0% balance transfers – these allow you to pay off an existing credit card interest free
0% purchases cards– these charge no interest for several months on your first purchases
Money transfer cards – these let you send cash to your bank account and repay interest free
Reward schemes – these give you vouchers and other incentives on your spending
Cashback cards – these give you money back as a percentage of what you spend
Air miles cards – these give you reward points you can exchange for flights
Low foreign transaction fees – these keep down the cost of spending abroad.
Are you eligible for a gold credit card or platinum card?
Gold credit cards and platinum cards, UK wide, have strict application criteria.
To get one of these exclusive credit cards, you might need some or all of the following:
A high income (over £40,000, for example)
A strong credit history
A minimum age of 21*.
*The usual minimum age for standard credit cards is 18.
However, each of the premium credit cards has different rules on who can apply.
Watch out for annual fees
Some cards have annual fees that could outweigh the benefits on offer.
For example, if a platinum cashback credit card would earn you £50 cashback each year but charged an annual fee of £60, it wouldn’t be worth having.
Do I need a credit card?
If you’re thinking of getting a standard credit card, gold card or platinum card, whether you need one at all will depend on your situation.
A credit card can be useful in emergencies and can offer you some financial flexibility. It can also give you some protection on purchases and even build your credit score if you use it sensibly. Plus, it can be used abroad and many – including gold cards and platinum cards – can reward you with perks.