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.
Peter Kenny is a writer for creditcards-gb.co.uk. For additional articles and an extensive resource for everything about credit cards, please visit us at www.creditcards-gb.co.uk and www.creditcards2go4.com
