Would you qualify for a Platinum credit card?

Are you the big spender in your group? Posing rights aside, if you want the obvious perks of owning a platinum credit card, you will you will need the funds to qualify for it. This card is not for an ordinary, everyday spender.

Platinum credit cards are every big spender’s best friend. Platinum holders are also the credit card company’s favourite, so they’ll do everything they can to keep you happy, with a range of benefits including travel insurance, discounted hotel accommodation, and great rewards programs offering Frequent Flyer Points for every dollar you spend.

The downside to all this is, predictably, the high rates and ongoing fees. Annual fees can reach over $200, so you really need to ask yourself whether your spending needs are big enough to make back the costs.

You can keep fees low by making sure you pay the debt off during the 55 days of interest free, but generous credit limits in the hundreds of thousands could make that a long struggle.

Ratecity.com.au has an extensive range of credit card comparison tools so you can find out if you clarify for a platinum credit card and what features you may benefit from.

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