Personal Finance: Switching to platinum
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Your support makes all the difference.WHEN IT comes to jewellery, truly classy people know that too much glitter is tacky: that's why they'll always choose platinum over gold to mount their diamonds.
However, until recently, gold was good enough for most credit card holders seeking that little bit extra. Now, gold cards are losing their cachet and credit card companies are launching platinum cards for people who spend a lot every month but always clear their debts. These are five of the currently available cards.
Amex
01273 693 555
Minimum Salary: By invitation only
Annual Fee: pounds 225
APR: N/A (this is a charge card)
Spending Limit: To be negotiated
Travel Accident Insurance: pounds 250,000
Free Purchase Protection: 90 days for lost, stolen or damaged goods up to pounds 20,000.
Other Benefits: Annual travel insurance, free upgrades with some airlines, hotel and car hire companies.
Capital One Bank
0500 200 400
Minimum Salary: pounds 20,000
Annual Fee: None
APR: 11.90 per cent
Credit Limit: pounds 25,000
Travel Accident Insurance: No
Free Purchase Protection: No
Others Benefits: Discounts with RAC, Interflora, Thorntons, holiday line.
Barclaycard
Contact your local branch.
Minimum Salary: pounds 20,000
Annual Fee: pounds 30, waived if the customer spends over pounds 6,000 a year
APR: 14.90 per cent to 17.9 per cent depending on volume.
Credit Limit: Minimum credit limit pounds 3,500, maximum to be negotiated.
Travel Accident Insurance: pounds 250,000
Free Purchase Protection: 100 days up to pounds 15,000.
Other Benefits: Two years extended warranty on household appliances purchased with the card and savings on travel and/or hotels.
Mbna
01244 672000
Minimum Salary: Not disclosed
Annual Fee: None
APR: 16.9 per cent with an introductory rate of 5.9 per cent for the first six months.
Credit Limit: To be negotiated
Travel Accident Insurance: pounds 250,000
Free Purchase Protection: 100 days for lost, stolen or damaged goods up to pounds 15,000.
Other Benefits: Insurance for flight delay and lost luggage, discounts on travel products.
Royal Bank of Scotland
Contact your local branch
Minimum Salary: pounds 25,000
Annual Fee: None
APR: 17.9 per cent with an introductory rate of 6.9 per cent till March 2000.
Credit Limit: Up to pounds 15,000
Travel Accident Insurance: pounds 250,000
Free Purchase Protection: 100 days for lost, stolen or damaged goods up to pounds 15,000.
Other Benefits: Emergency medical and legal assistance abroad, discounts on travel products, 10 per cent discount on tax check services.
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