Gold and platinum cards are the premium tier of credit cards, offering a blend of high credit limits and exclusive benefits. Issuing banks usually require gold and platinum cardholders to meet higher standards of income and creditworthiness. The cards sometimes have higher interest rates, so if the value-added enhancements of a gold or platinum card are attractive to you, you may want to pay the balance each month to reduce your cost of credit.

The higher credit limit and other perks offered to users of gold cards are especially attractive to frequent business and/or leisure travelers. Typical value-added services include rental car damage coverage, travel accident insurance and an extended warranty on items purchased with the card.

Platinum is another choice from the credit card menu.   Platinum cards may provide an even richer package of perks than gold cards, and the qualifying standards may be set higher. Some charge an annual fee.   It's important to consider a card's terms and ask yourself which perks you'll really use before committing to gold or platinum.