I have a platinum something-or other credit card, which I've had since college, or just out of college. Didn't a gold card or a platinum card used to mean something about the holder, as in they had excellent credit, and got great perks? I'm 28, so as long as I can remember, platinum cards haven't really meant anything, but I seem to remember as a younger kid, thinking gold cards were sort of pimp. Nowadays it seems like everyone can get a platinum card.

 

some credit card companies/banks do you use your credit rating. based on that you can get the better perks like gold/platinum credit cards.

for instance wells fargo and bank of america all use gold and platinum checking cards for no reason.

 

Yeah it used to mean high credit line / high credit score. I don't remember ever getting stuff other than better APR terms and possibly annual fees waived. I'm referring to MC and Visa here.

The threshold for meeting the reqs. to receive one is pretty arbitrary. Maybe the card companies found that when they mail out offers to people for "Platinum" or "Gold" cards they are more likely to signup.

The only ones I can think of that are different are the Amex cards.

 

unless you got the AmEx Black card, forget about special treatment...

 

^baller status there

well ya for instance i have a credit union for a bank account. and to get a credit card through them its based on credit score so gold and platium are better apr rates.

but like u said most credit car companies now days do it so they can get people to sign up u can have that platnium card with like a 14%apr rate

 

What seems more "exclusive" these days are credit unions where you have to be related to another card holder or work at a particular place to be eligible. (Pentagon Federal Credit Union comes to mind.) Low APR credit cards, high yield MMA's, etc. and the like if you qualify.

 

ya same here Kirtland Federal Credit Union works with people in the services so not your average person can get in. and since both my parents are retired from the air force i jus happend to be eligble!

cant go wrong with a credit union

 

I used to have a platnum card with a 30K limit for whatever that was worth, and an 8% rate.

 

I had a AMEX plat card about 5 years ago. I enjoyed using the travel/reservation services. They usually got the best hotel, air, show rates and they had reservations for places that were sold out. The last time I used it I got Blue Man tickets 30 mins before the show and was put in the third row dead center. I don't travel as much, so I didn't renew the membership, which was about $250/year if I am remembering right.

Sam

 

Yeah the concierge function is what I was referring to about the Amex cards. Personally I'd rather have a cash back feature than a shiny plat or gold card since I don't carry a balance. What does Discover give you? 3%?