Platinum card

Information

Be wary of some platinum cards that promise to improve your credit rating.

Usually sounding like a good idea, some platinum cards permit you to buy merchandise only from specialized catalogues. Platinum credit card issuers often promise that by using their unique credit programs you will be recommended to receive some major named credit cards like a Visa or MasterCard, a possible credit account from major national department stores, and other financial benefits such as a possibly better credit report.

Improving your credit rating is rarely acheived by having a platinum card. Many platinum cards do not report to credit agenices as soem of them say, and the cards do not often help you secure credit agreements with other creditors.

Platinum cards like this are usually advertised through television, in newspapers or e-mail. People with a lower income than others often are the target of these advertising sale pitches.