Related FAQ's & Guides
Q. How much do I need to earn to get a gold credit card?
A. Gold credit cards usually require you to meet: a minimum salary of £20,000 and to be aged 21 or over.
Q. What's the difference between a classic and a platinum credit card?
A. Some of the key differences between a classic credit card and a platinum credit card include increased borrowing power, preferential interest rates, greater benefits such as extended warranties and increased protection for your purchases and against fraud
Q. What's the difference between a classic and a gold credit card?
A. If you meet the criteria for a gold credit card, the benefits offered over classic cards can include increased purchasing power with higher credit limits (subject to status), improved purchase protection in terms of warranties and insurance, greater security against fraud, preferential interest rates, additional benefits depending on the card issuer, and various discounts.
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INCOME requirements for platinum credit cards do vary, and while some platinum credit cards have no written minimum income levels at all - others may require an income of at least £10,000 to £25,000 a year.
When you compare platinum credit cards you'll be able to see the minimum age and income required to qualify for the card.
Don't be fooled into thinking the higher the income needed the better the card will be though - some of the best platinum credit cards offering the most cardholder services have no set minimum income level at all.
Platinum credit cards
A platinum credit card is a prestige credit card that is available to those with a good credit rating who also meet other eligibility requirements as specified by the card issuer.
There are a number of additional benefits that can be enjoyed with a platinum credit card over a standard credit card.
A few things to bear in mind with platinum credit cards are:
- You will need to have a very good credit rating to be eligible for a platinum card.
- You will need to be earning a minimum annual salary as specified by the credit card company.
- The age limit is usually higher for a platinum credit card compared to a standard one.
Platinum credit card eligibility
A platinum credit card is a prestige credit card that offers a range of benefits in addition to the standard benefits that come with standard credit cards.
The benefits available with platinum credit cards can vary from one card issuer to another, but include valuable benefits such as purchase protection, extended warranties, improved security and fraud protection, a range of rewards and discounts, preferable interest rates, and most importantly for many people the chance to enjoy increased borrowing power with higher credit limits compared to standard cards.
Because these platinum credit cards offer increased credit limits those applying for the cards needs to be on a certain level of income to be eligible for a platinum card.
You will find that the minimum annual salary requirements will vary from one card issuer to another, so it is important that you compare and check that you meet the eligibility requirements in terms of income before you make your application.
There are also other eligibility requirements that you will need to meet before you can be considered for a platinum credit card. For instance, you will need to have a very good credit rating in order to be considered for one of these cards, and you will also need to be at least twenty one years of age in most cases, whereas with standard credit cards the minimum age is usually eighteen.
You will find platinum credit cards available from a number of providers, and if you feel that you meet the eligibility requirements it is a good idea to compare the benefits and interest rates on these cards in order to find the one that best suits your needs.
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