Ask the Biz Brain

Sunday, August 26,
2007

Please explicate the different types of recognition cards:
gold, platinum, etc. Is it the recognition line? I necessitate to
switch from my Pt card to another recognition card
because of an proclaimed charge per unit hike. Should Iodine stick with
platinum? I only have got the Pt card because of the
low charge per unit it offered at the time.

-- Playing my card game The more than than cherished the metal, the
more sole the card; at least that was the marketing
teams' initial ideas in coming out with gold and
platinum cards. Don't acquire all hung up in platinum,
titanium, gold, etc. Look for the footing you like with
the characteristics you need, not the colour of the card.

According to Bankra te.com, which tracks recognition card
rates, the norm charge per unit for standard fixed-rate credit
card recently was 13.44 percent, compared with 11.73
percent for gold and 10.32 percentage for platinum. But
among variable-rate cards, Pt card game averaged over
half a percentage more than gold.

As you've learned, card understandings let the
credit card supplier to change the involvement charge per unit after
they've given the cardholders notice -- typically
15 days' no tice.

You don't have got to hold to the new rate.

If you worsen the new rate, the card will be
closed to new purchases. The cardholder understanding will
stipulate what haps adjacent in footing of payments, but
in general, the old charge per unit stays the same as long as you
make timely payments of at least the lower limit payment and
stay current on all your other accounts, too.

When it come ups to se lecting a new card, you necessitate to
decide what have are most im portant to you. Annual
fees, involvement rates and other card characteristics all drama a
role when crucial what card will suit just correct in your
wallet.

-- Don Taylor/ Bankrate.com