Friday, August 19, 2022

Which Is Better Gold Or Platinum Credit Card

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Whats The Point Of A Platinum Card

American Express Platinum vs. Gold Credit Card | Which Card is Better?

People who have a particular fascination with traveling may benefit from the Platinum card. The Platinum card offers many more benefits than its Gold counterpart, especially in relation to the annual fee. Gift cards, dining and shopping, entertainment, merchandise, as well as access to the Amex website can all benefit from Amex rewards.

The American Express Platinum Card

The Platinum Amex card offers members five points for every dollar spent on flights booked directly through airlines or through the American Express travel site, five points for prepaid hotels booked through amextravel.com, and one point for every dollar spent on other purchases.

The Platinum welcome bonus as of February 2021 gives cardholders 75,000 points when they spend $5,000 or more in the first six months of account membership. This is the equivalent of $855 for flights booked through the Amex travel website. However, if you decide to add up to three additional cards on your Platinum account, expect to pay an extra annual fee of $175. Each card after that will be billed a $175 annual fee, as well.

The Platinum card is great for people who love to travel. There are obviously many more perks that come with the Platinum card than with the Gold, especially when you consider the higher annual fee. Rewards can be used for merchandise, gift cards, dining, shopping, entertainment, or for use at the Amex travel website. Points can also be transferred to other frequent flyer programs.

The Platinum card offers Uber ride credits in the United States, giving cardholders a maximum of $15 in credits each month. The card also comes with an annual $200 incidental airline fee credit on the eligible airline of your choice, giving passengers complimentary checked baggage and an in-flight meal with qualifying airlines.

Best For Airport Lounges: The Delta Skymiles Reserve American Express Card

If youre a truly frequent Delta flyer and consistently take advantage of airport lounges, the Delta SkyMiles® Reserve American Express Card may be worth it for you. This card gives you complimentary access into Delta Sky Club and Centurion® lounges, whereas the Delta SkyMiles® Platinum American Express Card only gives you a $20 discount on Delta Sky Club passes.The Delta SkyMiles® Reserve American Express Card also offers an upgraded companion certificate, which allows for rountrip domestic travel in first class, Delta Comfort+® or main cabin, whereas the Delta SkyMiles® Platinum American Express Card limits you to the main cabin only.

For rates and fees of Delta SkyMiles® Reserve American Express Card, please click here.

The bottom line: Even if lounge access is a major priority for you, consider whether or not youd be saving or losing money by choosing the Delta SkyMiles® Reserve American Express Card over the Delta SkyMiles® Platinum American Express Card. With the $300 difference in annual fees, you may just be better off paying the $39 each time you want to use the lounge.

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Avoid Paying An Annual Fee

Both the Amex Platinum and the Amex Gold cards charge annual fees that will cost you several hundred dollars a year. If you cant stomach the thought of shelling out that much for a card, even with all the perks and extras, consider a card like the Amex EveryDay® Credit Card*, which carries no annual fee and earns 2 Membership Rewards points per dollar at US supermarkets on up to $6,000 per year in purchases , 2 points per dollar when using the card to book trips through American Express Travel and 1 point for every eligible dollar on everything else. Plus, use the card 20 or more times on purchases in a billing period and earn 20% extra points on those purchases.

Your Credit Card Questions Answered

AmEx Platinum vs AmEx Gold: Which rewards credit card is ...

When youre comparing credit cards, think about your spending habits and which card benefits are important to you.

  • Review different credit card typesIf you enjoy travelling, a travel rewards card may be a great fit. But if you prefer to get a percentage of your spending back on your statement, go with a cash back card. If you tend to carry a balance, a lower interest card can help you save money and pay down what you owe faster. We even have cards for students and business owners.
  • Compare card featuresOnce youve settled on a credit card type, think about the card features that are most important to you. Consider things like annual fees, interest rates, credit limits and welcome offers. Use our compare tool to help you review each cards key features.
  • Understand the fine printBefore you pick your credit card, make sure you understand, and agree with all the terms and conditions. Review details like rates, fees and potential penalties. Understanding the fine print can help you use your card responsibly and save money.
  • Apply for the right credit cardOnce youve finished your research and picked the best credit card for you, apply for a credit card online, over the phone or in person. Learn more about applying for a credit card.
  • Whether you want cash back rewards, a lower interest rate, travel benefits or luxury benefits, we have a credit card that meets your needs.

    Check out our different credit card options:

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    What I Recommend For Military Servicemembers

    Military servicemembers should get both the Amex Gold and Amex Platinum. I recommend getting an Amex Gold card first and then opening an Amex Platinum once you have completed the minimum spend on the Amex Gold card.

    Also remember that military spouses also get their annual fees waived. Spouses can refer each other to earn even more points! I explain how that all works in my Ultimate Military Credit Cards Course.

    Let me know in the comments if you opened both cards!

    Who Is Eligible For A Platinum Card

    While there are varying minimum requirements for eligibility , platinum cards are not the members-only Ivy Club of credit you may think they are.

    With no firm industry definition, platinum cards can be found in a variety of ranges and are often accessible to a surprisingly diverse market – despite the allusion that platinum status is only available to an exclusive group of people.

    As a result of this broad spectrum of customers, platinum credit cards can be found in many forms. These commonly include:

    Low APR credit cards

    Balance transfer credit cards

    Balance transfer cards are a consideration for those paying interest elsewhere, and looking to pay down their debts by moving their balance to a card with a lengthy interest-free period. These cards still require a minimum payment on the monthly due date, and it’s important to clear the balance in full before any introductory 0% interest period comes to an end.

    Travel credit cards

    For those that spend a lot of time abroad, a travel credit card can offer such perks as waived transaction and withdrawal fees when used overseas, it is important to read the terms and conditions before applying though.

    Cashback/rewards credit cards

    Cards that offer incentives – such as money back and other rewards – for frequent card use, including perks like air miles, gift cards etc. These typically have high APRs associated with them. So, again, we can’t stress enough the importance of paying off the balance in full when it’s due.

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    Compare Delta Skymiles Credit Cards: Annual Fee

    Perhaps the largest distinction between the three Delta SkyMiles cards is with their annual fees. The difference in annual fee for each card is significant, and can be a deciding factor when choosing which card to get.

    It’s important to weigh each card’s annual fee against its benefits to determine the overall value of the card. In this case, the Delta SkyMiles® Reserve American Express Card comes out on top with the highest value of the three cards as its significant benefits like Delta Sky Club access and a companion certificate that applies to first class airfare offset its high annual fee.

    Here is a breakdown of each cards annual fee:

    Annual fees vs. value of benefits*

    Delta SkyMiles® Gold American Express CardDelta SkyMiles® Platinum American Express CardDelta SkyMiles® Reserve American Express Card
    Annual fee

    *Based on two roundtrip flights per year

    Compare Delta Skymiles Credit Cards: Welcome Offer

    Amex Gold vs. Platinum | Which Card Is Best for You?

    Another major difference between the three Delta SkyMiles cards is their welcome offers. Each card has a different welcome offer, the face value of which, unsurprisingly, increases with the caliber of each card.

    With this calculation in mind, the Delta SkyMiles® Platinum American Express Card actually presents the most value with its welcome offer of any of the cards.

    At first glance, the Delta SkyMiles® Reserve American Express Card seems to have the second highest welcome offer. However, the Delta SkyMiles® Reserve American Express Card also has the highest annual fee. Once each cards annual fee is deducted from the value of its welcome offer, we can determine the overall value of each offer.

    Here is a breakdown of each cards welcome offer:

    Delta SkyMiles® Gold American Express CardDelta SkyMiles® Platinum American Express CardDelta SkyMiles® Reserve American Express Card
    Welcome offer40,000 Bonus Miles after you spend $1,000 in purchases on your new Card in your first 3 months.50,000 Bonus Miles and 5,000 Medallion® Qualification Miles after you spend $2,000 in purchases on your new Card in your first 3 months.50,000 Bonus Miles and 10,000 Medallion® Qualification Miles after you spend $3,000 in purchases on your new Card in your first 3 months.
    Estimated value
    $490

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    American Express Gold Vs Platinum Spending Example

    Say you use your American Express Gold Card and spend $200 dining out and another $500 on groceries. Youll earn a cash back rate of 4 points for every dollar in these categories, which comes out to 2,800 points or $56 . Say you spend another $600 on non-category purchases, such as gas, shopping and your cell phone bill. At 1 point per dollar spent, youll earn another 600 points in non-category spending, which equals $6. In this example, youll earn a total of $62 for the month, with earnings coming from everyday consumer purchases.

    Using the same purchases and dollar amounts, heres what your earnings might look like if you used the American Express Platinum for these expenditures. After the first six months of opening your account, youll earn 1 point for every dollar you spend at restaurants, so the $200 you spend dining out will deliver 200 points at 2 cents each, or $2. Similarly, the $500 you spend on groceries and the $600 towards non-category spending also yield 1 point per dollar. That means youll earn 1,100 points or $22 in this instance. In all, your total in monthly rewards earnings equals $24, which is $38 less than what youll earn with the Amex Gold card.

    Amex Gold Perks And Credits

    The Amex Gold is one of the best-looking cards on the market, especially if you get the Rose Gold metal version. Granted, it has a much shorter list of benefits than the Amex Platinum. But, the Amex Golds perks still add a ton of value to the card.

    First off, cardholders can enjoy up to $240 in annual statement credits, including:

    • Up to $120 in annual Uber Cash Up to $10 in Uber Cash each month once you add your card to your Uber app. Enrollment required.
    • Up to $120 in annual dining credits Up to $10 a month at the following merchants: Grubhub, Seamless, The Cheesecake Factory, Ruths Chris Steak House, Boxed and participating Shake Shack locations. Enrollment required.

    If youre capable of maxing out these benefits, this will leave you with an out-of-pocket cost of just $10 a year after considering the cards $250 annual fee . Thats not even counting the value to be had from my four other favorite lesser-known perks of the Amex Gold.

    Like the Amex Platinum card, Amex Gold cardholders will also get 12 months of complimentary access to Eats Pass if they enroll by Dec. 31, 2021.

    Related: 7 ways to make the most of the Amex Gold Card benefits

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    What Are The Delta Amex Card Options

    Amex offers three Delta credit cards for consumers: The Delta SkyMiles® Gold American Express Card, The Delta SkyMiles® Platinum American Express Card and The Delta SkyMiles® Reserve American Express Card. The Amex card hierarchy starts with Gold at the bottom, then increases to Platinum and Reserve is at the top. Note that when comparing the Delta SkyMiles® Reserve American Express Card versus Delta SkyMiles® Platinum American Express Card, the Delta SkyMiles® Platinum American Express Card actually offers better value. These American Express credit card colors are gold, platinum and purple.

    For rates and fees of Delta SkyMiles® Gold American Express Card, please click here.

    For rates and fees of Delta SkyMiles® Platinum American Express Card, please click here.

    For rates and fees of Delta SkyMiles® Reserve American Express Card, please click here.

    Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

    These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

    Choosing A Delta Skymiles Credit Card Offer Gold Vs Platinum Vs Reserve

    American Express Platinum vs Gold: Which credit card is ...

    Advertiser Disclosure

    Advertiser Disclosure: ValuePenguin is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. This compensation from our advertising partners may impact how and where products appear on our site . To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

    Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

    The Delta SkyMiles® Platinum American Express Card offers the most value compared with the Delta SkyMiles® Gold American Express Card and Delta SkyMiles® Reserve American Express Card.

    Delta and American Express offer a few co-branded airline credit cards with rewards associated with the Delta SkyMiles® loyalty program. Each of the cards has a different rewards and bonus structure as well as a big difference in annual fee.

    The best Delta SkyMiles card for practical travel benefits is the Delta SkyMiles® Gold American Express Card.

    For rates and fees of Delta SkyMiles® Gold American Express Card, please click here.

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    Fit Mastercard Card: Easy Application Process And $400 Initial Credit Limit

    The Fit MasterCard card is available to everyone, regardless of credit score. The application process is straightforward, and in a short time, you can have your card in your hands.

    You can receive up to a $400 credit limit to use responsibly and reestablish your score. As it is a card without many requirements for approval, it has some fees to be paid. However, it can be an alternative if you do not want to make a deposit to obtain a secured card.

    After six months with a good credit history of on-time payments, you can double your limit up to $800. It is not a card for your lifetime, but it can be a stepping stone on your climb to getting cards with lower interest rates and more benefits.

    What Is The Difference Between Platinum And Titanium Credit Card

    Here we will share you the details of platinum vs titanium credit cards. There is not a major difference when you tiers. The providers that offer a Titanium credit card often offer them as a step above the Platinum credit cards. You have to fulfill strict criteria to be eligible for holding these cards. The criteria include the following:

    • A minimum monthly income requirement
    • A minimum and maximum age requirement
    • A minimum spending requirement
    • Duration of your employment

    Sometimes, a titanium card may have more of these requirements as compared to a platinum card, varying from provider to provider.

    Titanium cards often offer additional benefits such as no fee for late payments, or no charges for transactions. These offers are often not offered to the holder of a Platinum card. Both titanium and platinum cards charge an annual membership fee for the rewards and benefits they offer. An annual membership fee charged on the titanium card is usually higher than the platinum card. When a is done, the credit limit is considered as an important determinant. The titanium credit cards along with other tier credit cards offered to members with a high income may not impose any credit limit at all. Even if a credit limit is offered, it goes up to a very high amount.

    To Further Conclude

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    What Are 24k Credit Cards

    If youre thinking about getting a gold card, and want to up the ante, you could get a card that is actually made of 24k gold-plated stainless steel. However, in the US, youll only find the Luxury Card Mastercard® Gold Card as a native 24k gold credit card. If youre looking to get this premium option and capture everyones attention when you pay, be ready for a hefty annual fee or a conversion fee.

    With the help of metal conversion services, you can turn any card metal or plastic into a 24k card. But expect to pay a one-time fee.

    How much does a 24k credit card cost?

    It depends. If you apply for the Luxury Card Mastercard® Gold Card, youll pay a $995 annual fee.

    The metal card conversion services cost less. For example:

    • The Lion Credit Card metal conversion service charges from $234 to convert your credit card into 24k gold card.
    • The Metal Credit Card conversion service charges from $299 to turn your credit card into 24k gold card.

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