Why is Platinum the "default" card issued in North America ?
Mar 26, 2006, 11:41 pm
#1
Original Poster
Join Date: Feb 2004
Posts: 5,986
Why is Platinum the "default" card issued in North America ?
I've noticed recently looking through that virtually all the Mastercard and Visa card's on offer in North America are branded as "Platinum" cards.
In most of the Asia Pacific region the Platinum card is the top-card, equivalent to or exceeding the Visa Signature in the North American market. Both Gold and Platinum cards are required by (Visa/Mastercard) to be issued with a reasonably high credit limit - US$4,500 for the Gold/US$9,000 for the Platinum in New Zealand for example.
It seems very strange to me that in North America - Classic, Gold and Platinum level card's have the same features - right down to qualification requirements.
Is there a reason for this or has it just happened ?
In most of the Asia Pacific region the Platinum card is the top-card, equivalent to or exceeding the Visa Signature in the North American market. Both Gold and Platinum cards are required by (Visa/Mastercard) to be issued with a reasonably high credit limit - US$4,500 for the Gold/US$9,000 for the Platinum in New Zealand for example.
It seems very strange to me that in North America - Classic, Gold and Platinum level card's have the same features - right down to qualification requirements.
Is there a reason for this or has it just happened ?
Mar 27, 2006, 10:49 am
#3
Join Date: Jul 2001
Location: Near Pittsburgh, Pennsylvania, USA, Earth (PIT)
Programs: Airline/TSA Avoidance Platinum, Hotel Disloyalty Silver, Hertz 1.7*
Posts: 5,277
I think the requirements for "gold" have lowered over the years, and then platinum was introduced to give another level. And the requirements for that have gone down too, so there are levels like Visa's "Signature" and such. In the end, the requirements are set by the issuing banks for Visa and MC, as are the related benefits. The card level of gold, platinum, whatever is not the guarantee of certain benefits that it once was, at least in my experience.
It's still possible to get a plain classic or whatever card too, but you typically have to have really bad credit and/or really low income to end up with one of these. The fine print of all offers says if you don't qualify for the higher level ones you may be issued the low level card instead.
It's still possible to get a plain classic or whatever card too, but you typically have to have really bad credit and/or really low income to end up with one of these. The fine print of all offers says if you don't qualify for the higher level ones you may be issued the low level card instead.
Mar 27, 2006, 12:20 pm
#5
Join Date: Nov 2003
Location: Athens, GA
Programs: DL SM, Marriott PM, Hilton Gold, Hertz 5*
Posts: 166
Originally Posted by mlhall
A friend of mine (who has a Centurion card from Amex) believes that it is just marketing. He often jokes that he is waiting for an issuer to come out with the ultimate card...petrified wood. 
Mar 27, 2006, 12:43 pm
#6
Join Date: Dec 2004
Posts: 7,915
Originally Posted by mlhall
A friend of mine (who has a Centurion card from Amex) believes that it is just marketing. He often jokes that he is waiting for an issuer to come out with the ultimate card...petrified wood.
I'm still waiting for the rare element cards to come out: The Francium AMEX Rewards (tm) card.
Pure marketing...
Mar 27, 2006, 6:41 pm
#7
Join Date: Sep 2001
Location: Cambridge, Mass. USA
Programs: Former business traveler now working from home
Posts: 217
Originally Posted by CrazyOne
It's still possible to get a plain classic or whatever card too, but you typically have to have really bad credit and/or really low income to end up with one of these.
Mar 27, 2006, 9:31 pm
#8
Original Poster
Join Date: Feb 2004
Posts: 5,986
Then you've got things like the Bank of America Visa Platinum for Students - Everyone knows now that a Platinum card doesn't mean anything
It makes you wonder why Visa don't remove the Platinum level from newly issued card's (IE when people's card's come up for renewal drop them down to Gold, or Classic if they have a really small limit), so eventually they'll be able to reuse the "Platinum" designation. While doing this they could change their slogan to reflect being the premium card issuer - marketing...
It makes you wonder why Visa don't remove the Platinum level from newly issued card's (IE when people's card's come up for renewal drop them down to Gold, or Classic if they have a really small limit), so eventually they'll be able to reuse the "Platinum" designation. While doing this they could change their slogan to reflect being the premium card issuer - marketing...
Mar 29, 2006, 1:58 am
#9
Join Date: Dec 2004
Location: Los Angeles, CA
Posts: 203
Originally Posted by ntddevsys
I've noticed recently looking through that virtually all the Mastercard and Visa card's on offer in North America are branded as "Platinum" cards.
In most of the Asia Pacific region the Platinum card is the top-card, equivalent to or exceeding the Visa Signature in the North American market. Both Gold and Platinum cards are required by (Visa/Mastercard) to be issued with a reasonably high credit limit - US$4,500 for the Gold/US$9,000 for the Platinum in New Zealand for example.
It seems very strange to me that in North America - Classic, Gold and Platinum level card's have the same features - right down to qualification requirements.
Is there a reason for this or has it just happened ?
In most of the Asia Pacific region the Platinum card is the top-card, equivalent to or exceeding the Visa Signature in the North American market. Both Gold and Platinum cards are required by (Visa/Mastercard) to be issued with a reasonably high credit limit - US$4,500 for the Gold/US$9,000 for the Platinum in New Zealand for example.
It seems very strange to me that in North America - Classic, Gold and Platinum level card's have the same features - right down to qualification requirements.
Is there a reason for this or has it just happened ?
Mar 29, 2006, 8:28 am
#10
Join Date: Nov 2003
Location: Athens, GA
Programs: DL SM, Marriott PM, Hilton Gold, Hertz 5*
Posts: 166
Originally Posted by SOhp101
Why? It's because everyone in America thinks they're important. That's why everything is 'premium' or 'fancy' over here.
Mar 29, 2006, 8:41 am
#11
Join Date: Dec 2004
Posts: 7,915
Originally Posted by SOhp101
Why? It's because everyone in America thinks they're important. That's why everything is 'premium' or 'fancy' over here.
Mar 29, 2006, 8:48 am
#12
Join Date: Sep 2002
Location: Orlando, FL, US
Programs: DL-Dirt Medallion;US-Cast Iron Preferred; HH-Gold; Avis First
Posts: 3,617
Platinum cards have become so common, I am eschewing all precious metal and gem cards, and expect my future cards to be radioactive elements, at least 
In fact, I am applying for my new plutonium card as soon as I get done here.
In fact, I am applying for my new plutonium card as soon as I get done here.
Mar 30, 2006, 3:39 pm
#13
Join Date: Dec 2004
Location: Los Angeles, CA
Posts: 203
Originally Posted by rrgg
Unlike condescending Europeans right? Please stop generalizing. Other countries have status symbols, and the people who buy them think they're just as "important" to use your word.
Mar 30, 2006, 7:23 pm
#15
Join Date: Jan 2001
Location: Kingston, Ont, the limestone city
Posts: 975
Originally Posted by rrgg
Sorry if I misunderstood, but you said Americans think they're special. It's naturally to infer you meant non-Americans do not think this way.
Let's say... All lions are carnivore so does that mean non-lion animal cannot be carnivore? You know there are tigers or deers so by having the first statement gives no indication of other statement.