Gold Credit Cards
Gold credit cards, as with platinum cards, are a type of premium
credit card that is offered by credit card companies to their
preferred customers. They will also be offered to hand picked
individuals that the credit card company would like to add as
customers.
In practice gold cards are very similar to platinum cards and
there is actually nothing specific meant by the fact that a card
is designated a gold card. It is really just a way for each
credit card company to differentiate their own products and the
various credit cards that they have on offer to their customers.
What one credit card company calls a gold card, may be called a
platinum credit card by another company, while at the same time,
such a card may be given no special designation by another
company. The point to remember in all of this is that every
credit card has to be looked at and judged on the terms and
rates that it offers and if you are going to sign up for any
credit card, then you should take the time to consider what it
is you are agreeing to and whether or not the offer is
attractive to you. You cannot simply rely on the fact that the
company offering the card has decided to call it a gold card or
a platinum card as this will not tell you if the deal is a good
one or not.
Typically however, most credit card companies will reserve the
names of gold card and platinum card for the more attractive of
their cards. These cards will be harder for applicants to
qualify for. They will generally have a higher spending limit
and a better rate of interest. They might also have lower
charges for using the card abroad or for cash advances. Many
gold or platinum cards will offer an attractive reward scheme or
cash back offer and you should look out for other offers that
the credit card provider will make in order to make their gold
card more attractive to customers.
Some companies will consider that their gold card or platinum
card is so attractive that customers will be willing to pay a
monthly or annual fee for the card. These cards generally do
have good terms and are attractive but you will still have to
check carefully before agreeing to pay for the card. In fact,
the terms and rates that are offered by most credit card
companies these days on their free credit cards will be so good
that it will be difficult for credit card companies to persuade
customers of the benefits of paying for a premium credit card.