Platinum credit cards have a reputation of wealth and power since they offer so many benefits to card holders. The problems that go along with platinum credit cards is that not everyone gets approved for a platinum credit card, and some of them even require a specific amount of money that must be used in any given year, especially when it comes to travellers.

Another issue that tends to arise with platinum credit cards is that usually they also come with higher than usual annual fees such as $100-$200 at the minimum and $1200 at the maximum. The annual fees on platinum credit cards are much higher than even on gold cards, but the benefits on platinum credit cards are also much better than on gold cards. Some platinum credit cards offer rewards such as 2 points rewarded for each dollar spent with no expiration date on points, extended product warranties, great discounts on entertainment, 24/7 concierge services, as well as no-cost travel insurance. For travellers, platinum credit cards offer benefits that outweigh the negatives such free travel insurance.

The problem with platinum credit cards is that there are many stipulations in order to become approved such as a very good credit score as well as a yearly salary of $60,000 or more. Certain platinum credit cards also have age minimums in order to get approved as well. If you are not able to qualify for a platinum credit card, the next best thing is a gold credit card which offer a plethora of benefits and rewards, just not as in abundance as a platinum credit card. For more information on both platinum and gold credit cards, use the search tool on this site to find your preferred credit card.