The difference between standard, gold and platinum credit cards

Whether you’re looking for no frills or extra perks, compare the different features of standard, gold and platinum credit cards to find the right card for you.

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Standard, gold and platinum credit cards offer different features to suit a range of spending habits and goals. For example, if you have trouble paying off your balance or don't use a credit card very often, a standard account (including low rate and low fee options) can give you access to credit without the bells and whistles of more premium cards.

At the other end of the scale, platinum credit cards offer additional perks such as complimentary insurance, concierge services and rewards that are suited to people who spend a lot and can afford to pay off the balance. The small selection of gold credit cards on the market come somewhere in between. If you’re weighing up whether to go with a standard, gold or platinum card, use this guide to compare which type of credit card fits your circumstances so you don’t get stuck with too much or too little bang for your buck.

How do I know which one is for me?

Think about how you plan to use a credit card to help you decide whether a standard, gold or platinum card is right for you.

Standard cards

  • Rarely use a credit card
  • Struggle to pay your card in full each month
  • Don't plan on using extra features or earning rewards
  • Have a low annual income

Gold cards

  • May carry a balance some months
  • Don't want to pay for a rewards program
  • Interested in a specific complimentary extra
  • Have a medium annual income

Platinum cards

  • Repays balance in full each month
  • Use a credit card regularly
  • Earn a high income
  • Want to earn frequent flyer points

Standard cards

  • How much do they cost? Standard cards are an entry-level option and typically have lower costs than gold and platinum cards. Annual fees for standard credit cards can range from around $25 to $150 and standard variable interest rates for standard cards could be as low as 8.99% p.a. or as high as 22% p.a. but are usually comparatively lower than more premium options.
  • What are the features? Common features include interest-free days on purchases and no liability fraud guarantees. Standard credit cards have the lowest minimum credit limit and lowest minimum income requirements. You'll also find many cards with cost-saving features such as low purchase rates and $0 annual fees fall into this category (although you can find gold and platinum versions of these types of cards too).
  • What are the downsides? Standard credits are light on value-adding features such as rewards. For the few standard cards that do offer rewards, you can expect a lower number of points per $1 than more premium cards.

Compare low rate credit cards

Rates last updated September 19th, 2019
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate Product Description
Latitude Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.
Citi Clear Platinum Credit Card
12.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 14 months
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks. Ends 30 September 2019.
ME frank Credit Card
11.99% p.a.
Up to 55 days on purchases
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$58 p.a.
0% p.a. for 15 months
With a low minimum credit limit of $1,000, this no frills card allows you to add up to 3 additional cardholders for $0.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% for 13 months, reverts to 20.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 13 months
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$45 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
St.George Vertigo Classic - Exclusive Offer
0% for 14 months, reverts to 13.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 6 months
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
St.George Vertigo Platinum
12.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 18 months
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
BOQ Low Rate Visa Credit Card
13.49% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 14 months
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee. Plus, a competitive purchase interest rate.
St.George Vertigo Classic
13.99% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 16 months
Get 0% p.a. interest for up to 16 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.

Compare up to 4 providers

Gold credit cards

  • How much do they cost? Gold credit cards are mid-way between standard and platinum credit cards with annual fees to match, ranging from around $80 to $200. Interest rates can range from 12% p.a. to 22% p.a., with lower rates and perks such as rewards usually driving up the cost of the annual fee.
  • What are the features? More competitive promotional balance transfer or purchase rate offers alongside gold extras such as insurance and rewards.
  • What are the downsides? As gold credit cards make up a small portion of the market, there is very little competition. This means you have fewer deals to compare when looking at gold cards.

Compare gold credit cards

Rates last updated September 19th, 2019
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
American Express Gold Business Card
Membership Rewards Ascent
1.5
N/A
$169 p.a.
ABN holders w/ $75,000 p.a. revenue. A business card with no pre-set spending limit, data feeds to MYOB and up to 51 days to pay for purchases.

Compare up to 4 providers

Platinum credit cards

  • How much do they cost? Annual fees for platinum credit cards range from around $99 to $500 (or even $1,450 p.a.in the case of the American Express Platinum). These cards also usually have high rates of interest for purchases and cash advances.
  • What are the features? Platinum reward cards offer a higher number of points per $1 when compared to standard or gold options. Other popular features include comprehensive travel insurance, purchase insurance covers, airport lounge passes and concierge services.
  • What are the downsides? High annual fees and high interest charges can sting you if you don’t pay your balance off by the statement due date, or if you don’t earn enough rewards to justify these costs.

Compare platinum credit cards

Rates last updated September 19th, 2019
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
American Express Platinum Card
150,000 bonus points
Membership Rewards Ascent Premium
2.25
N/A
$1,450 p.a.
Get up to 150,000 bonus points, a $450 annual Platinum Travel Credit, dedicated personal service and luxury travel perks. Ends 25 September 2019.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
30,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
NAB Qantas Rewards Signature Card
120,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90,000 when you spend $3,000 on eligible purchases in the first 60 days and 30,000 after 12 months.
Citi Rewards Platinum Credit Card - Exclusive Offer
Citi Rewards Program
1
0% for 13 months, reverts to 20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
St.George Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
19.74% p.a.
$99 p.a.
Earn 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas points per $1 spent.
St.George Vertigo Platinum
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
Citi Clear Platinum Credit Card
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks. Ends 30 September 2019.
HSBC Platinum Credit Card - Balance Transfer Offer
HSBC Rewards Plus
1
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
St.George Amplify Signature - Qantas
90,000 bonus points
Qantas Frequent Flyer
0.75
19.74% p.a.
$179 p.a. annual fee for the first year ($279 p.a. thereafter)
Get 90,000 bonus Qantas Points when you spend $4,000 in 90 days and 2 complimentary Qantas Club lounge invitations per year.

Compare up to 4 providers

What other types of credit cards can I compare?

As well as considering standard, gold and platinum cards, you may want to look at these options:

  • Black credit cards. A step up for platinum products, black credit cards provide elite features and benefits, with price points to match.
  • No annual fee credit cards. While standard, gold, platinum and black credit cards usually have very different annual fees, there are some cards that waive this cost (including platinum options). If you want to avoid paying ongoing fees for your credit card, you may want to focus your comparison on these options.
  • Low rate cards. While standard credit cards typically provide lower rates than their more premium counterparts, you can also find low rate credit cards that come with gold or platinum benefits. For example, St.George offers a standard and platinum version of its Vertigo card, while Bankwest has standard and platinum options for its low rate Breeze credit card.
  • 0% interest credit cards. A wide range of standard, gold, platinum and black credit cards may offer a promotional 0% interest on balance transfers or 0% interest on purchases during the introductory period. Some cards may even offer both. If you’re looking to save money on credit costs in the short term, it could be worth considering this option.

The difference between standard, gold and platinum credit cards comes down to the different features and costs typically offered by each of these types of cards. If you're trying to decide between a standard, gold or platinum account, look at the rates, fees and complimentary extras based on what you want from the card. You can also get in touch using the form below if you have a question about the difference between standard, gold or platinum credit cards or need help with your comparison.
Images: Shutterstock

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8 Responses

  1. Default Gravatar
    MuhammadApril 12, 2019

    Usually, standard cards have a minimum credit limit, is there a maximum limit? Can I get a higher limit on standard cards?

    • Avatarfinder Customer Care
      JoshuaApril 14, 2019Staff

      Hi Muhammad,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      In most cases, the minimum credit limit is specifically mentioned. The maximum limit is not really mentioned because this can change from time to time depending on the bank and your behavior as their client.

      Yes, you can obtain a higher limit by requesting it to your bank. However, please note that it would be a good idea that you wait after at least six months (or depending on your terms and conditions) before you do so to increase your chance of having your request approved.

      You can learn more about requesting for an increased credit limit here. This guide also includes reasons why you should or shouldn’t ask for a credit limit increase based on your own circumstances and other pieces of information.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    AnnaJuly 17, 2017

    What is the minimum income that a person must have if they want to apply for a platinum credit card? Thanks! :)

    • Avatarfinder Customer Care
      RenchJuly 17, 2017Staff

      Hi Anna,

      Thanks for reaching out to us.

      For platinum cards, most banks require a high minimum income requirement. You can check this page for helpful information.

      I suggest contacting the bank directly to inquire. It will depend on what card/bank that you will apply for.

      Cheers,
      Rench

  3. Default Gravatar
    haimenFebruary 9, 2014

    Do I have to pay fees for a platinum card?

    • Avatarfinder Customer Care
      MarcFebruary 10, 2014Staff

      Hi halmen,
      thanks for the question.

      In most cases a platinum card will come with an annual fee and a higher interest rate compared to regular cards, although this isn’t always the case. To compare platinum cards please view our page here.

      I hope this helps,
      Marc.

  4. Default Gravatar
    dulceApril 9, 2013

    What are some of the other benefits that a credit card can give you that isn’t monetary

Credit Cards Comparison

Rates last updated September 19th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks. Ends 30 September 2019.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90,000 when you spend $3,000 on eligible purchases in the first 60 days and 30,000 after 12 months.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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