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Generally speaking, it could be said
that there are three main types of credit card available
in the UK;
Standard Credit Cards, Gold
Credit Cards and
Platinum Cards.
You should always consider all the different options
available to you before you apply for any kind of credit
card. Gold and Platinum cards have the allure of being
a sort of status symbol for some people and so people
at times may go out of their way in order to try and
obtain these types of cards.
| As well as this 'status symbol'
factor, Gold and Platinum cards will generally
offer higher credit limits to the owner and tend
to offer a greater number of features and benefits
when compared to standard British credit cards.
However, credit card companies are not going to
just give away these benefits to anyone that applies.
As you traverse the spectrum from Standard rate
to Gold to Platinum, along with increased features
and benefits, the credit standing of the applicant
typically needs to be better also. |
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These credit cards are aimed at people with higher incomes
and therefore higher spending power who have high credit
rating. So, before applying for these cards you should
consider the adverse effect of multiple denials of Gold
and Platinum credit card applications.
A standard credit card may well serve the purpose for
your particular needs and lifestyle and should be given
careful consideration. Furthermore, it's noteworthy
that the APR of Standard rate Credit Cards is not necessarily
higher than the APRs of Gold and Platinum credit cards
so you could conceivably be able to save yourself money
on interest charges by applying for a Standard rate
Card.
Credit cards in the UK are of course not limited to
these three varieties. There are credit cards targeted
at people with adverse credit and towards the other
end of the scale Titanium credit cards and other such
cards. But for the majority of credit card owners in
Britain, you will find yourself in one of the three
aforementioned credit card categories. |
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