Credit Cards Guide - Step 6 of 7 - Type

Depending on how often you plan on using your piece of plastic, will depend on what level of credit card will best suit you. There are three main levels of credit cards – standard, gold and platinum – so read on to help you decide which level is for you.


If you use your credit card sparingly, as a back-up or necessity for online booking, then you are most likely to have a standard credit card. This level of card is very basic and you usually don’t have a rewards program attached. But to make the most of credit card rewards you need to spend, so for those who don't splurge on their cards, a standard credit card's lower interest rate is more attractive.


Are you not quite in the big league of platinum spending but want more rewards than your standard credit card is offering? Gold credit cards are the mid-level cards which come with more features and services than the standard level, however the features may not be as high as the platinum level cards. For example, you may not receive as many reward points. The interest rate is higher than standard but often lower than platinum.

A few of the rewards offered with gold credit cards are automatic travel insurance for travel purchased on your credit card, free extended warranty and extra reward points every time you use your card to be redeemed for gifts, cash, travel or shopping.


The platinum credit card is regarded as the highest level of credit cards, where the interest rates are generally the highest in the market and often so are the annual fees. Along with the higher fees are usually bigger rewards. They usually offer more features and rewards than the other levels of cards including travel insurance, discounted hotel accommodation, and great rewards programs offering Frequent Flyer Points for every dollar you spend.

Walk through the complete Home Loans Step by Step guides below;

Credit Cards Guide - Step 1 of 7 - Usage
Credit Cards Guide - Step 2 of 7 - Interest
Credit Cards Guide - Step 3 of 7 - Rewards
Credit Cards Guide - Step 4 of 7 - Features
Credit Cards Guide - Step 5 of 7 - Brands
Credit Cards Guide - Step 6 of 7 - Type
Credit Cards Guide - Step 7 of 7 - Checklist



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