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The blue line represents the S&P 500 going back twenty years to 1990. The green line represents consumer confidence over the same time period.
Click here to see the chart...
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Status: Making others envious
Undoubtedly, Silver credit cards, gold credit cards, and above all Platinum Credit Cards bestow an idea of status to the cardholder much like a luxurious car, a yacht, expensive clothing, jewels and other onerous possessions.
There is nothing wrong with that, but one may wonder if that is sufficient reason for requesting a financial product or paying substantially more money for it. If there is no other useful feature, or as we want to point out in this article, there is a tendency to reduce the differences as to real financial advantages between these products, we see no reason to pay excessive issuing costs and maintenance fees just because of the color or material of a credit card.
Credit Limit
At the beginning of the credit cards' story, the main difference between these credit cards was that the amount of money you could spend with them differed substantially. Platinum Credit Cards had a credit limit much like a classic credit card, gold credit cards had higher limits and Platinum Credit Cards claimed to have no limits at all (we say claim because there was not and there isn't such thing as no limits. However, to be honest the credit limit is high enough to consider that claim to be true.).
However, lately the limits of platinum cards and gold cards have come close enough to judge the difference insignificant. Thus, it seems to be no reason to pay the higher charges of gold cards if that is the only difference between them. Moreover, as both limits are increasing and reaching considerable amounts, platinum credit cards and their no limit feature begins to be less appealing.
Income implications
Since there were income requirements to qualify for these credit cards, being a cardholder of a silver credit card meant you had certain income, being a gold credit card holder meant your income was higher and so on. This could be an easy way for others to know how much you made without you talking about it. Store Card accounts could be opened without credit checks, etc.
However, the qualification requirements' differences have also been reduced and even platinum credit cards which where a type of credit card that could be obtained by invitation only are now offered to anyone who can qualify for it and qualifying is not that harder than qualifying for a gold credit card.
Membership Fees
The only substantial difference between these credit cards seem to be the membership fees, renewal fees, issuing fees, etc. Thus, as stated above, it seems as you are paying higher amounts just to make it clear that you can pay higher amounts. The benefits of having a higher grade credit card seemed to have banished and thus it might be advisable to think twice before accepting an offer from a bank that includes this kind of cards.
Sarah Dinkins is an Expert Loan Consultant in the financial industry that helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and other types of loans and financial products. At her website www.badcreditfinancialexperts.com/article/ she is continually adding new finance articles useful for those in need of professional advice.
The term 'Costume Jewellery' means that the item is plated and not a precious metal (i.e. Silver, gold or platinum). Most costume pieces is plated in either an 18ct gold or Rhodium finish. The base metals are either brass or tin alloy with two layers of copper then one layer of palladium followed by either of the above finishes.
Most costume items are made from Rhodium. Rhodium is a metal from the Platinum family, it is the most expensive and durable white metal known. Silver has been very popular for making beautiful pieces for many centuries and has become extremely popular since the mid 1700s. It is actually a very soft metal in its purest form and requires a mix with an alloy such as copper to make it hard and suitable for everyday use.
Silver is often made using 925, which means that 925 parts in every 1000 are pure; this represents an excellent quality product. It is hallmarked as proof of quality.
In the US, the laws state that Jewellery cannot be sold as silver unless it contains at least 92.5 percent pure. Many people expect silver to retain its colour forever, but it often tarnishes when it reacts with gases in the air or with other substances that it comes in contact with.
Many people are allergic to the Costume Jewellery because the alloy reacts with the acidity in their skin. This often makes the skin go green and may result in itching. Although many modern items are designed to be hypoallergenic many people choose to only wear silver because they can be certain their skin will not react.
Silver Jewellery does not look as vibrant and shiny as rhodium plated pieces and the best combination is plating silver items with rhodium. This results in a wonderful shine, similar to costume but at the same time providing protection from any allergies.
Frostfirerock.co.uk provide a unique range of jewellery, bracelets, earrings and necklaces. The website consists of over 100 pieces of unique jewellery.
What is the difference between gold, silver, and platinum cards?
It's said that there are three causes why people need products: Because of their beauty, because of their utility and because they do other people envious.
There is a lot of relative incidence of the third reason when it comes to these kinda cards, but there are really some useful features to take into account likewise.
Gold, and platinum CC are recognised as prestige cards. They are generally more expensive than standard credit cards, but in return they provide a superior degree of service. Although on the surface they may look the like, there are some characteristics that mark them.
Gold cards tend to be the most usual, with silver cards being to a lesser extent expensive and offering up a lower level of service, and platinum cards offering a higher level of service, but at an eminent cost. This won't be the same with all cards offered by all suppliers, but it is a general rule. But there can be gold cards from one provider offer higher quality services than platinum cards from another.
These cards come in ranges, with each provider offering gold, silver, and platinum cards to dissimilar customers, depending upon income and credit history.
Platinum Credit Cards.
Platinum cards oft have many fringe benefits useable to their members, due to the fact that the cardholders normally have really high or great credit scores. Platinum cardholders work their way up the ranks by paying up and establishing better credit for themselves. Some of the great rewards that may be connected with platinum credit cards are:
Low interest rates.
Higher credit limits and more frequent credit limit increases.
No yearly fee.
More benefits, savings amp; rewards, including:. - travel accident insurance. - fraud protection service. - cash back programs. - frequent flier miles.
Platinum plastics offer up such great rewards because credit issuers are trying to ply to people with first class credit. If a CC company understands that you have prominent credit they are going to want to keep your business, which is why so many offer platinum CC to set you aside from the people with merely good credit. Being offered a platinum CC is a company's style of honouring you for having great credit, while at the same time assaying to attract your business.
Thus, while your spending limit may not be that significantly eminent having a platinum card instead than a silver card, your membership fee almost sure will. The decision that you have to make, assuming you qualify, is whether you are willing to pay that additional amount in membership fees to have a higher ranking card. And by taking in a policy of silver, gold and platinum CC, the issuers are trusting on you doing wanting just that.
If you are interested in loans or credit cards you can read more at Credit Card Information
