Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Compare platinum credit cards

Platinum cards come with high minimum income requirements, but they offer high credit limits and an array of benefits in return.

Use our table to compare Platinum credit cards. You can also select "Show filters" to narrow your search to products with features you need most.

1 - 1 of 1
Name Product Filter values Rewards Purchase APR Annual fee
PenFed Platinum Rewards Visa Signature® Card
5x points on gas at the pump, 3x points on groceries and 1x points on all other purchases
16.49% to 17.99% variable
Earn 5x points on gas at the pump and 3x points on groceries. Earn 1x points on all other purchases.

Compare up to 4 providers

Qualifying for platinum credit cards requires that you meet high minimum income requirements. Expect a card like this to offer a considerably higher credit limit when compared to basic cards, and you can also look forward to a variety of extras.

These cards tend to offer complimentary insurance covers, and cardholders usually get access to a personal concierge service as well. A number of platinum credit cards come linked to rewards programs, enabling cardholders to earn rewards as per their spending.

In most cases, the minimum income requirement to qualify for these types of cards is higher than Gold or Classic credit cards. They also feature a higher minimum credit limit with the option to increase the credit limit much higher than other types of accounts. For this reason, these are usually associated as being for movers and shakers.

What are the benefits of using a platinum credit card?

As a platinum credit card user you can look forward to numerous benefits, including:

  • Rewards. Most platinum credit cards come linked to rewards programs, but most rewards programs differ from each other. For instance, while some cards link to frequent flyer programs, some others link to programs offering limited reward options. Platinum cards, when compared to standard rewards cards, tend to offer better earn rates, so you can earn rewards faster.
  • Complimentary insurance covers. When you use your platinum credit card to make purchases, you can make use of complimentary purchase covers like guaranteed pricing scheme, purchase cover insurance, and extended warranty insurance. Complimentary international travel insurance, interstate flight inconvenience insurance, and transit accident insurance come into play when you use your card to pay for travel.
  • Personal concierge service. Such a service offers round-the-clock global assistance in matters like dining, travel, entertainment, and business.
  • Platinum perks. Depending on the card you choose, you can get exclusive invitations to a host of entertainment and sporting events, and you can get access to presale tickets. You can also expect to make use of an array of discounts and special promotions spread across realms like travel, shopping, and dining.

Best platinum business cards

How can I compare platinum credit cards?

Basic platinum credit card features remain the same, but certain aspects can differ greatly. When comparing such cards, make sure you pay attention to the following.

  • Annual fee. Almost every platinum credit card charges an ongoing annual fee, and some cards offer annual fee waivers for the first year. Typically, the annual fee of platinum credit cards varies in between $99 to around $300, although it can be higher.
  • Rewards program. Pay attention to how many points you stand to earn per dollar spent. Find out what you can redeem your points for, such as flight tickets, flight upgrades, and travel and store vouchers. Some even allow you to use your points as cash back.
  • Interest rate offers. Specific platinum credit cards come with interest rate offers, and while these normally apply on balance transfers, you can even find cards with purchase rate offers. Such offers give you the ability to pay little to no interest on given transactions for a set time. In such instances, the promotional interest rate and the time period can vary from one card to the next.

Who are platinum credit cards best suited to?

If you want to get a platinum card simply because you feel it’ll add to your social standing, think again. In choosing a credit card you should ideally take into account your spending habits along with your ability to make repayments.

Consider getting a platinum credit card if you plan to pay your account’s closing balance in full each month. This is because the interest your platinum card charges would be on the higher side.

You’ll typically accumulate reward points when you spend using a platinum card, and you get to redeem these points in various ways. If you wish to earn rewards as per your spending, a platinum card might work well for you.

Or, consider a platinum card if you want a higher than usual credit limit. International travelers can benefit by getting such cards, owing to the complimentary travel insurances on offer.

Platinum credit card pros and cons

While there are considerable advantages to owning a Platinum credit card, you’ll find there are some disadvantages too. Here is a quick look at the good and the bad of owning a prestige card.


  • High credit limits. Platinum credit cards offer greater spending power through noticeably high or uncapped credit limits.
  • Better earn rates. Platinum cards gives cardholders the ability to earn two to three reward points per dollar spent, whereas with standard reward cards they can expect to earn no more than one point per dollar spent.
  • Extras. Extras like access to a concierge service and complimentary insurance coverage work in these cards’ favor.

Compare concierge credit cards


  • Annual fees. Expect to pay an ongoing annual fee for as long as your account remains active, and this can work as a downside if you don’t make use of your card’s extra features.
  • High interest. If you keep balances rolling in your account from one month to the next, expect to pay higher interest compared to what you’d pay if you used a low-rate card instead.

What platinum cards are currently available?

Many US credit card providers offer platinum cards and your choices extend to choosing between Visa, Mastercard, and American Express cards. The features these cards come with are largely similar, but the perks on offer are not. As a result, fees and interest rates vary.

A platinum credit card brings with it a range of benefits, but consider applying for one only if you think you’ll use it in a way that can justify paying its annual fee. You have numerous options to choose from, so compare as many as possible before deciding which one works for you.

Frequently asked questions

What eligibility criteria do I have to meet to apply for a platinum card?

In addition to meeting minimum income requirements, you must be over 18 years of age, and a permanent US resident.

When do my platinum card rewards points expire?

This depends on your specific rewards program, since reward points expire with some programs but not with others.

How do I get additional cards linked to my platinum card?

This depends on the card you use, but most platinum cardholders can apply for additional cards. Whether you have to pay an additional card fee or not depends on your card provider.

More guides on Finder

    Ask an Expert

    You are about to post a question on

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

    By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

    Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
    Go to site