Saturday, December 16, 2006

Applying For A Platinum Card, Things To Watch Out For

With the relatively easy availability of credit today, more can get plastic
cards, including students and even those with bad credit ratings.

A credit card is a simple way of getting a credit rating and used smartly,
can help provide flexibility in spending and even bonuses like cash back
offers or travel credits.

To obtain a gold or platinum card you will need to have a higher annual
income. This higher level of income is generally needed to qualify for these
cards contrary to standard credit cards.

These cards can offer several additional benefits such as free travel
insurance, free purchase protection, savings on travel and/or hotels and
free extended warranty for additional year(s) on many household appliances.
They may also offer higher credit limits and let you access to a higher
amount of cash on a daily basis. The possibilities are endless for the owner
of the card.

While carrying a gold or platinum card once give a certain prestige,
nowadays there is very little difference between them although some credit
card companies charge a fee for a Gold card, for example.

If you can afford to have a platinum or gold card, use Internet to help you
get information. Browse around as many of the major credit card companies as
you can and seek out the best possible rates. You have to ensure that a deal
really suits you. You can find a credit card directory at
http://www.platinumaz.com/


There are numerous types of platinum cards. There are cards with frequent
flyer programs for those who travel a lot.
Business cards are ideal for those with good credit history and regularly
charge business expenses to their personal credit card. Those who would like
to earn rebates can choose some rewards card.

What's more, you can find very specific cards for your very special needs or
buying habits, for example if you are frequent guest of Intercontinental
Hotels, only interested in Sony rewards or actually are a coffee drinker.

The credit card companies don't just make their money on unpaid balances. Be
careful how or where you use your card, because you may be hit with
unexpected charges, so it's important to read all the terms and conditions
thoroughly of the card before you apply for it.

There are some things that you also have to watch out for. For example, be
wary if you are asked to pay up-front fees when the promotion or ad without
mentioning that there may be additional costs. Find out the total cost
before applying for this type of card.

Be suspicious about any promises to erase bad credit or to secure major
credit cards regardless of past credit problems.
Think twice about any offer to get "easy credit."

Marketers of 'gold' and 'platinum' cards often claim it's easy to get major
credit cards after using their cards for a while.
In fact, the only major cards you usually can get through these marketers
are secured.


About The Author: Fruzsina Csery is a freelance copy writer.
She occasionally writes for http://www.platinumaz.com/

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