Credit Cards for rich people
Posted on May 30th, 2010
There are always credit cards for everyone, but there are a select few that only those among us who command reasonably good salaries can get. I call these the elite credit cards; however, the credit card companies like to call them premium credit cards (i suppose it sounds less stuck up)…
I’m going to compare a couple of elite credit cards on the blog today, and since this site is called credit card comparison you can summarise them at the end with me and we’ll come to a conclusion about which is best based on several different factors.
Let’s start with:
The Lloyds TSB Airmiles Duo
- 15.9% APR
- 0% interest for 6 months on your balance transfer
- No 0% interest on purchases
- Airmiles reward system – one airmile for virtually every pound you spend in the first three months and then one airmile for every £10 you spend after that time.
- Collect double airmiles abroad
The Amex Platinum Chargecard
- Lounge access in airports, companion tickets, and also certain hotel privileges
- Good range of insurance benefits
- Complimentary supplimentary cards for the family
- Redeem reward points for special gifts and holidays
- No 0% interest on balance transfers
- No 0% interest on purchases
Overall the thing that strikes me the most about these two cards is that they assume that anyone who can afford a platinum (elite) credit card is someone who jets off all over the world. Is this really the case? Well let us assume that they do their research and it is indeed the case.
Well if you’re planning of changing your card to one of these then i wouldn’t recommend the Amex simply because they dont’ offer 0% interest on your balance transfers. And this is a terrible shame because the other benefits look as though they could have taken it into the lead. I really don’t need to compare any more, if a card can’t offer 0% on a transfer these days it isn’t worth having!
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