With Platinum Cards come platinum offers! A platinum card, as the name implies, comes with more benefits than a gold credit card or regular credit card. A platinum card enjoys a higher status than that of a gold card. For the same reason, the minimum income requirement to qualify for these types of cards is higher than gold or classic credit cards.
A Platinum card offers has maintained its image as a prestige card for high-end customers and offers various benefits when compared to other regular credit cards.
Features of a platinum card:
- Uncapped or high credit limit: Platinum cards have a higher credit limit in comparison to regular or gold cards. Thus, the platinum offers can also differ when compared to offers from other credit cards.
- More reward points per money spent: You can gain more reward points and platinum offers from platinum cards than any other credit card for the same amount of money spent! In exchange for your reward points, you can also either get vouchers or gifts.
- Travel privileges: You can save money by using platinum cards with airline partners, get free membership to hotel rewards programs, and complimentary access to airport lounges.
- Leisure: You can also avail platinum offers from some credit cards for movie tickets. Platinum credit cards also allow you to save when you dine at hundreds of restaurant partners.
Benefits of applying for a platinum card
Good credit history (a score of 750 or above) and a high income is needed to qualify for a platinum credit card. However, applying for a platinum card with platinum offers can only be useful if it benefits a cardholder. Here’s a list of the benefits of owning a platinum card.
- Access to privileges and rewards: If a cardholder is a frequent flier or a golf player, they can gain access to platinum offers as well. Some platinum cards come with rewards such as frequent flier miles, airline savings and premium access to the best airline lounges.
- Complimentary insurance covers: When a cardholder uses the platinum card to make purchases, the complimentary purchase covers like guaranteed pricing scheme, purchase cover insurance, and extended warranty insurance is very useful.
- Personal concierge service: Platinum offers are available to a platinum cardholder. Some of the services include round-the-clock global assistance in matters like dining, travel, entertainment and business
- Platinum perks: A platinum credit cardholder can get exclusive invitations for specific entertainment and sporting events. They can also gain access to presale tickets.
Ways to improve your credit score
When there is a good credit score, you can get better terms and lower interest rates on loan products and credit cards. At the same time, it’s not always easy to boost your credit score, overnight. So take a look at few tips that can help in improving your credit score:
- Keep the credit utilization ratio of the credit card under 10%
- Try to pay twice a month to cover huge expenses
- Raise the credit limit on the platinum card so that the utilization ratio goes down
- Check the credit report for errors. If errors are found, rectify them at the earliest
- Request to have the entries that are paid off removed from the credit report