Credit cards have taken India by storm and now there are around 62 million card users in the country. India may not have caught up to western trends in terms of use, but more and more people, from all segments of society, are beginning to realize the advantages of credit card use.
Furthermore, apart from new credit card applicants in major metros, people from smaller tier 2 and tier 3 cities are becoming credit card-savvy users. A credit card gives you untold benefits, apart from the obvious ‘purchase at the moment, pay afterwards’ facility. Moreover, credit card issuers have become more intelligent as they provide different types of credit cards to draw in more customers.
Apart from considering the consumer’s spending pattern and behaviour, banks and credit card companies also offer an array of cards that suit the financial health of customers. These range from flagship cards like platinum credit cards to budget credit cards for customers who are not in the high-net-worth category.
What is a Platinum Credit Card?
Anything with the word ‘platinum’ in its wake clearly spells prestige. Hence, a platinum credit card is a credit card that contains a whole lot of advantages and superior functions for the user. A card such as this is typically the highest grade of a credit card offered by issuers. The advantages that this card holds are more than other credit cards have. Furthermore, these cards represent a higher status for cardholders.
The Features of a Platinum Card
If you are not a holder of any credit card, your bank will likely offer you one of its own, if you have had a long-standing and fruitful relationship with the bank. For customers with a high net worth, banks and card issuers may offer the facility of a platinum free credit card. Apply online and you can get one based on a high credit score. Here, ‘free’ may represent the fact that you don’t have to pay a joining or annual fee for the credit card. This is not the only outstanding feature of a platinum credit card. The following are some of the outstanding features you can expect.
- Fees and Charges – Depending on the credit card company, a platinum credit card may come with high fees and other charges. Contrastingly, if you are an important customer with a substantial financial backing, you may get perks of fee waivers and low-interest rates.
- Credit Limits – A platinum card could be offered with no credit limit or very high limits. These are usually not offered on gold or regular credit cards. This gives a platinum credit cardholder a great deal of flexibility in purchasing goods and services.
- Reward Points – A perk that attracts many users to credit cards are the reward points earned while purchasing products. In terms of reward points, a platinum credit cardholder gets more reward points for each amount spent than any other class of credit card. As in other credit cards, reward points in a platinum credit card can be redeemed for vouchers and other gifts.
- Other Privileges – A plethora of exclusive features that mean benefits for users come with platinum credit cards. These aren’t usually found in a free credit card Apply online for any credit card today and you get advantages. However, in a platinum card, you get many more benefits like VIP lounge access at international airports, air miles and huge savings with airline partners, hotel booking discounts, complimentary bonuses like free golf activity at exclusive clubs etc.
The Exclusive Advantage
You need not have concerns if you don’t qualify for a platinum credit card. You can easily get a versatile credit card if you opt for the Bajaj Finserv RBL Bank SuperCard, a card that gives you four functions rolled into one. The card may be used as a regular credit card, a card for cash withdrawals, a card to take loans with and a card to purchase products on EMI.
