What does Platinum mean?

[Skye12329]

I heard someone say they were shocked because one of my CC's say Platinum on it, but i was wondering whats the big deal about it? Because all of my cards including Debit cards say Platinum on it.

[manwoot]

AMEX Platinum is a "big deal" card.

Every other platinum is... meh...

[Skye12329]

Ok, but what does it mean though? I mean is it anything special?

[manwoot]

---

@Skye12329 wrote:

Ok, but what does it mean though? I mean is it anything special?

---

Personally, I wouldn't say it's a big deal or special at all.  Lenders use the terminology gold, platinum, diamond, preferred, etc. but it's really just labeling of cards.  Capital One Platinum, for example, is one of their worst/lowest cards you can get from them.

[Anonymous]

There was some metal inflation back around the 90s. Lots of gold, and now lots of platinum. My first debit card around 99 was a gold card. Even many secured cards are called Platinum. Maybe we'll all have Palladium debit cards in a few years.

[scenery_guy]

78 or Pt (chemistry humor). 

 It's on of the the earth's rarest element in the crust. It's a noble metal. It's scarce and highly valuable and a precious metal commodity. It's more expensive than gold. To credit card marketing groups Platinum > Gold. Gold cards at one time were the illusive upper tier card designation. Just like shills they invented a new illusive level. Bingo - platinum cards. 

[Anonymous]

---

@manwoot wrote:

AMEX Platinum is a "big deal" card.

Every other platinum is... meh...

---

And Amex Plat isn't a big deal really either, just need to pay the annual fee.

As others have said, simple term inflation.    I got my first Gold MC around 1986, and whenever I showed it, which was a lot because I was young and a jerk, people were impressed.  Now, for many cards, platinum is the lowest level, below signature.

[mxp114]

Platinum means nothing, I think for 99% of lenders in the US it is the standard issued tier but some even just issue Signature or World status easily. In other markets like Brazil, Platinum has maintained a degree of perceived prestige and exclusivity. The Platinum Card from American Express means little too.

[CreditScholar]

---

@mxp114 wrote:

Platinum means nothing, I think for 99% of lenders in the US it is the standard issued tier but some even just issue Signature or World status easily. In other markets like Brazil, Platinum has maintained a degree of perceived prestige and exclusivity. The Platinum Card from American Express means little too.

---

+1. Platinum really means nothing these days in the US market.

[improvingmycredit]

---

@Skye12329 wrote:
I heard someone say they were shocked because one of my CC's say Platinum on it, but i was wondering whats the big deal about it? Because all of my cards including Debit cards say Platinum on it.

---

Hey Skye12329!  Welcome to the Forums!

In general and I hope this helps, each different credit card network offers different tiers of benefits.  For example, MasterCard offers:  Standard Mastercard, Gold Mastercard, Platinum Mastercard, World Mastercard and World Elite Mastercard.  Each tier of card offers more in benefits to the card holder.  It used to mean a lot more to hold a different tier product then it does now a days but still, the benefits are better per level of card.  It meant something in the 80's/90's to carry a Platinum card for example but today, almost all lenders offer the Platinum card and it's inherent benefits from Mastercard.  But in general, in today's offerings, in order to get a World MasterCard, you must first qualify with the various lenders to receive a minimum of 5K limit and the card (in general) will also allow you to go over that credit assignment with no repercussions from the lending institution.  Platinum cards limits can start at $100 to $100K+ where as the World Mastercard is supposed to start at $5K minimum and go up from there.  I have included a link for you to check out. 

http://www.mastercard.us/credit-card.html

Not all lenders offer all the different tiers either.  Most of the rebuilder cards are platinum offerings and so on.

What convoluted the answer even more is that lenders name their products themselves on top of the different tiers and supplement the tiered card with more of their own benefits to make the card more attractive, for example:  CitiBank offers the Citi Diamond Preferred MC.  This card is a Platinum card at the base of it but nowhere do you see platinum on the card anywhere.  The card offers concierge like a "World" card but this benefit is offered through Citi and not Mastercard international.  

Overseas, the different card levels still pretty much mean something.  Platinum cards issued by foreign banks still hold their status and it's rare to see a World card.