Rewards credit cards give you something back when you spend on them. Rewards can vary from card to card, but some of the most common rewards include air miles, vouchers or in-store points to use at your favourite retailers and supermarkets. Some also provide cashback every time you spend on the card. Bear in mind these cards can have annual fees and high APRs, so make sure you clear your balance each month.
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Compare gold & platinum credit cards
Find an exclusive, high-limit, gold or platinum credit card for you
Gold and platinum credit cards often come with perks
What are gold cards or platinum cards?
Gold and platinum credit cards were once seen as the most prestigious cards to have - with the highest credit limits around - and only available to the elite.
But today, things are a little more democratic.
Gold and platinum cards still often come with added benefits, such as rewards and higher credit limits, but they are now more widely available.
There's also a much wider range of gold and platinum cards on the market - with perks varying from card to card. Some might offer insurance, for instance, or exclusive access to events, while others might focus on reward points.
Be aware that some premium credit cards charge high annual fees while others don’t. If the card you want to apply for charges a fee, you need to weigh up whether you’re likely to make full use of the benefits on offer to decide whether it’s worth applying for it.
Some popular choices today include the Amex Gold, American Express Platinum Cashback, Barclaycard Platinum, and First Direct Gold card. But there are lots of other options too.
The best gold and platinum cards offer some of the highest credit limits around.”
Who can get a gold or platinum card?
You’re most likely to get a gold or platinum credit card if you have a good credit record.
Some of the most exclusive credit cards will be invitation only, but others will be more easily accessible. For example, although you might need to meet minimum income requirements, there’s at least one credit card that is available to those with annual salaries of under £7,000. (The First Direct Gold credit card only asks for a minimum annual income requirement of £6,800.)
Exact eligibility criteria will vary depending on the card you’re applying for. As an example, if you want to apply for the American Express Platinum Cashback Everyday credit card, you will need to have no history of bad debt, a permanent UK home address, a UK current account and be prepared to spend at least £3,000 a year on your credit card – if you don’t, you won’t qualify for cashback.
To be eligible for the welcome cashback bonus that comes with the card, you also must not have held a personal American Express credit card in the past 24 months.
Are gold and platinum credit cards better?
Many providers reserve their most exclusive deals and highest credit limits for their gold and platinum cards.
But, in and of themselves, the colour of a credit card has little bearing on how good it is at what it does.
We've seen examples of gold cards you can qualify for with annual salaries of less than £7,000.
That means you'll need to choose the best card for you based on what it offers.
The good news is that there is a lot on offer with gold and platinum cards.
Just keep in mind that you will usually need a good credit score to qualify.
While the features for each card differ, they do come with a range of different perks, which aren't necessarily exclusive to platinum cards:
Higher credit limits
Cashback, vouchers, air miles and other reward schemes
Lower fees for using the card abroad
Lower interest rates
0% deals for purchases and balance transfers
A higher level of protection on your purchases
Complimentary extras such as airport lounge access and discounts on concert and theatre tickets
Complimentary insurance, such as travel insurance and extended warranty cover
Personal concierge service, giving you round-the-clock assistance for all your entertainment, travel and restaurant needs
Our featured deals
Our editors have picked out some of our best gold and platinum credit card deals.
Editor’s pick
Our chosen dual credit card
Barclaycard Platinum Balance Transfer (18/21)
Purchases term
0% for 21 months
Balance transfer term
0% for 18 months with a 2.99% fee
Rep APR
24.9% APR
Representative example: The standard interest rate on purchases is 24.9% p.a. (variable), so if you borrow £1,200 the Representative APR will be 24.9% (variable).
Show Details
Eligibility
Minimum Age
18 years
Minimum Income
£3,000
“With this card, Barclays offers a competitive up to 21 months interest-free on purchases. Plus, you also get up to 18 months of 0% interest on balance transfers, for a 2.99% transfer fee.”
Editor’s pick
Our best gold card for rewards
American Express Preferred Rewards Gold Credit Card
Rewards
Membership Rewards
Annual fee
£195
Rep APR
88.8% APR
Representative example: The standard interest rate on purchases is 31% p.a. (variable), so if you borrow £1,200 the Representative APR will be 88.8% (variable).£195 annual fee.
Show Details
Eligibility
Minimum Age
18 years
“Big spenders get 20,000 rewards points for spending £3,000 in your first 3 months of card membership with this Amex gold card deal - but watch out for the annual fee.”
Editor’s pick
Our chosen cashback credit card
American Express Platinum Cashback Everyday Card
Cashback
5% for 3 months, then up to 1%
Annual fee
£0
Rep APR
31% APR
Representative example: The standard interest rate on purchases is 31% p.a. (variable), so if you borrow £1,200 the Representative APR will be 31% (variable).
Show Details
Eligibility
Minimum Age
18 years
“With a strong cashback offering of 5% on purchases in the first 3 months and up to 1% after that, and no card fee, the American Express Platinum Cashback card is our top deal”
How CardFinder works
CardFinder is a tool that matches you with the credit cards you're most likely to get based on your circumstances.
We then tailor the results depending on what you're looking for - a gold card, for example.
Using CardFinder means that you can rule out cards you're less likely to qualify for ahead of time, so you won't hurt your credit score by putting in applications that are later rejected.
That's because it uses a “soft search” credit check when comparing cards for you, which doesn't appear on your credit file to anyone except you.
CardFinder is a quick and low risk way to ensure you only apply for a card you're likely to be accepted for.”
Gold and platinum FAQ
Is it hard to get a gold credit card?
Whether it’s hard to get a gold credit card will depend on the card you want to apply for. Some gold credit cards will be invitation only or have strict eligibility criteria, making them more difficult to get. Others will have more lenient eligibility criteria, making them more accessible. Compare each card carefully to check whether you’ll qualify.
Is a gold credit card worth it?
Whether a gold credit card is worth it will depend on what you want from your credit card. If you’re after a card that offers a range of exclusive perks such as a higher credit limit, insurance or airport lounge access, a gold credit card could work for you. But you’ll need to check whether there are any annual fees and if there are, whether you’ll make full use of the perks on offer to make the fee worth paying.
How many credit cards should I have?
Having different types of credit cards for different purposes can be useful. However, too many credit cards can hurt your credit record. Work out how many is too many here.
Is it possible to get a credit card with no credit limit?
Almost all credit cards will give you a specific credit limit. "Unlimited" cards still usually come with a limit based on your spending habits and income.
Does my credit record matter?
Yes, your credit record does matter as it helps lenders decide whether to accept you, as well as what APR and credit limit they offer you.
What rewards can I get with credit cards?
You can get credit cards that give you a percentage of what you spend back as cashback, air miles and other rewards (such as shopping vouchers).
What charges come with my credit card?
Credit cards come with a range of charges, including interest and late payment fees, but you can usually avoid them if you understand how they work.
What are the alternatives to a premium credit card?
![Rewards cards]()
Rewards cards
Rewards credit cards give you something back when you spend on them. Rewards can vary from card to card, but some of the most common rewards include air miles, vouchers or in-store points to use at your favourite retailers and supermarkets. Some also provide cashback every time you spend on the card. Bear in mind these cards can have annual fees and high APRs, so make sure you clear your balance each month.
![0% purchase cards]()
0% purchase cards
0% purchase cards offer lengthy introductory interest-free periods, so you can make large purchases with your credit card and spread the cost over several months. As long as you pay off the full balance before the end of the interest-free period, you won't pay any interest.
![Balance transfer]()
Balance transfer
Balance transfer cards let you move debt from one or more credit cards to a new one and pay that debt off at a lower interest rate. Many offer lengthy interest-free periods, so all your repayments go towards paying off your debt rather than interest, helping you to pay off your balance quicker and save interest at the same time.
![Avios, airmiles and other travel perks]()
Avios, airmiles and other travel perks
One of the most common types of reward credit card is one designed for travel. These let you build up virtual air miles that you can then exchange for free flights (you usually still pay taxes and charges) or upgrades on plane tickets. Other common travel perks include free airport lounge access and discounts from travel firms.
![Balance transfer and purchase cards]()
Balance transfer and purchase cards
These are often known as “combo cards” and enable you to carry out a balance transfer and make purchases interest-free on the same card. Having two separate cards for different purposes can make it harder to keep track of your finances, so a combo card can help simplify things.
What are the alternatives to a premium credit card?
Rewards cards
0% purchase cards
0% purchase cards offer lengthy introductory interest-free periods, so you can make large purchases with your credit card and spread the cost over several months. As long as you pay off the full balance before the end of the interest-free period, you won't pay any interest.
Balance transfer
Balance transfer cards let you move debt from one or more credit cards to a new one and pay that debt off at a lower interest rate. Many offer lengthy interest-free periods, so all your repayments go towards paying off your debt rather than interest, helping you to pay off your balance quicker and save interest at the same time.
Avios, airmiles and other travel perks
One of the most common types of reward credit card is one designed for travel. These let you build up virtual air miles that you can then exchange for free flights (you usually still pay taxes and charges) or upgrades on plane tickets. Other common travel perks include free airport lounge access and discounts from travel firms.
Balance transfer and purchase cards
These are often known as “combo cards” and enable you to carry out a balance transfer and make purchases interest-free on the same card. Having two separate cards for different purposes can make it harder to keep track of your finances, so a combo card can help simplify things.
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References
1. Credit card facts and statistics: 2022 Money.co.uk 2022 Money.co.uk