Platinum credit card vs no-frills credit card

Credit cards are often grouped into three broad categories.

No-frills basic credit cards often have a low rate or low annual fee and very few extra benefits or promotional offers attached.

Standard credit cards have a mid range rate and fees and usually come with some complementary insurances and a balance transfer offer.

High end platinum cards usually come with a rewards points scheme, a concierge service, complementary travel insurance and other insurances as well as other deals. For these benefits you will be asked to pay a higher purchase interest rate and a relatively high annual fee.