When Platinum Credit Cards Is Not Longer Exclusive

Posted by Kris | Friday, December 13, 2013 | | 1 comments »

Platinum credit card
Platinum Cards from Hong Leong - Good benefit when buying GSC Movie Tickets

Nowadays Platinum Credit cards are no longer so exclusive since the banks are more willing to dish this out to anyone that want to. I have a few of them; simply for the following reasons:

1. To enjoy some of the benefits that is entitled to platinum card holders. Nowadays the benefits are not so great in the first place, but it is better than holding a Gold or Silver credit card.

2. To enjoy the free gifts or cash rebates dished out when you subscribe to a new card. Platinum credit cards have high cash rebates. (in RM of hundreds range)

3. Help out my friend in the credit card marketing field. Platinum cards will give them a very high commission rates. It does not hurt that if the marketing agent is a pretty girl (http://www.knowthymoney.com/2013/03/marketing-techniques-should-i-buy.html); in the real world, people MAY treat you differently once they see your financial statement. But my friend is a nice person, so I help her out :D

I once had to HESITANTLY submit my EPF account info as "some" strigent credit card application requirements besides my salary slip. Not sure whether it is really that necessary or otherwise (you tell me). See here for my thoughts on this http://www.knowthymoney.com/2012/06/should-you-reveal-your-networth-to.html

4. Lastly, to enjoy some of the cash rebate when I shop using my credit cards. And here is more benefits to owning a credit card http://www.knowthymoney.com/2013/10/benefits-to-owning-credit-card.html

I notice the following though:  Local banks tends to be very conservative hence they give me very low credit card limits. Or maybe my service to debt ratio is very high already? 

Remember your credit card limits will be reflected in the CCRIS report, and might impact your application for property loans or hire loans.

For this platinum card from Hong Leong, it cannot really beat my 5 digit credit card limit from a foreign based bank. See here http://www.knowthymoney.com/2012/12/my-5-digit-credit-card-limit.html

P.S Today is "131213" & Friday the 13th.


  1. Happy walker // 8:03 PM  

    sigh, dun even have a card~ TT