Platinum Credit Cards

How platinum credit cards work...

A platinum credit cards work in the same way as a regular credit card, only with more perks.

If you earn a good yearly income and have a sterling credit rating, then these cards reward you with lower rates of interest and a host of rewards and benefits too.

Aren't these cards out of my league?

Platinum credit cards are not the icon of opulence they once were. You may be surprised by the relative ease at which you can be accepted - providing, of course that you meet the criteria.

1. Age
   Many lenders stipulate that you are at least 21 or 25 years old before you are eligible, however, more companies are opening their doors to clients as young as 18.


2. Income
   Although it varies, most card companies will set the base limit for annual income at approximately £25,000.


3. Credit Score
   As lenders usually offer higher limits and more favourable APRs they will want to be sure you will repay your spending. A good credit rating will be an indication to them that you are a trustworthy candidate.

What are the benefits over a standard card?

Platinum credit cards offer many perks over a standard card for no extra cost. The type and variety of rewards on offer vary from company to company, so make sure you check what’s on offer on our platinum comparison page.

The following is a quick list of the sorts of incentives typical platinum credit cards offer.

• Higher credit limits
• Lower interest rates
• Purchase security (including enhanced fraud protection and extended warranties)
• Travel services (such as insurance)
• Rewards (air miles, 0% introductory periods, cash back etc)

Compare platinum credit cards