Best platinum cards for status spenders and rewards seekers

Remember the days when gold credit cards were the gold standard? Then platinum credit cards became the new mark of exclusivity. Since then, the platinum of platinum credit cards have morphed into black, clear, blue, plum, titanium and every other color imaginable in the status rainbow. How do you choose?

The good news is platinum credit cards are more available to average consumers. You don't need the highest income or credit scores to qualify for members only benefits, but generally just need a solid credit history and a FICO above 650. If you pass the criteria, you can earn platinum credit card points redeemable for prizes and merchandise, tap customer service benefits, accrue frequent flyer miles, get discounts and reap cashback bonuses. Most platinum credit cards also guarantee over-the-limit services, so you'll never again have to deal with the embarrassment of getting your card declined.

Let's take a look at some of the best platinum credit cards on the market.

Discover More platinum credit card. This platinum credit card offers a 5% cashback bonus in categories that change throughout the year, like travel, home improvement stores, department stores, gas stations, restaurants, pet stores, etc. You also earn a 5-20% cashback bonus at top online retailers and 1% cashback bonuses on all other purchases.

BankAmericard Cash Rewards Visa Signature Card. This platinum credit card allows you to redeem cash rewards for a statement credit, directly deposited into any checking or savings -- you can use rewards to pay down your eligible Bank of America mortgage, home equity loan or home equity line of credit. Plus, you earn 3% reward points on purchases at gas stations, grocery stores and drugstores for the first six months, and up to 20% back at 270 retailers on the Add It Up Web site.

TrueEarnings Business Card from Costco and American Express
. This highly popular platinum credit card is for Costco members and provides 4% cashback rewards for gasoline, 3% for restaurant purchases, 2% for travel and 1% for all other purchases.

The Humane Society of the United States® WorldPoints® Platinum Plus® Visa® Card. Bank of America provides 25 cents for every $100 in purchases you make to The Humane Society of the United States. Plus, this platinum credit card allows you to earn 1 point per dollar, and redeem WorldPoints for cash, travel with no blackout dates, hotel rewards, car rentals, brand-named merchandise, gift certificates and more. Your Ultimate Access rewards lets platinum credit card holders to redeem points for exclusive collectibles and once-in-a-lifetime experiences, sports memorabilia, marquee events and more.

American DreamCard Platinum MasterCard. This platinum credit card awards monthly cash jackpots--you earn entries by shopping. They claim to have awarded more than $1.1 million to its platinum credit card customers to date.

Citi Hilton HHonors Visa Card. This platinum credit card allows you to earn 15,000 Hilton HHonors bonus points after you've made $150 in purchases (good for a one-night stay at participating Hilton hotels) within two months of opening the account. You earn 6 points for each dollar spent at Hiltons; 3 points for each dollar spent at gas stations, supermarkets and drugstores, and 2 points for each dollar spent anywhere else. You also qualify for Hilton HHonors Silver VIP status.

Bank of America Accelerated Rewards American Express Card. This platinum credit card allows you to earn 1.25 points for every $1 in net retail purchases, with flexibility to pay in full or over time.

Discover Motiva platinum credit card. You get a pay-on-time bonus equal to a full month's interest every time you make six consecutive on-time payments--so if you're always on time, this platinum credit card gives you a bonus twice a year. You also get a 5-20% cashback bonus at retailers at the Discover Motiva site and up to a 1% cashback bonus on all other purchases.

Citi Diamond Preferred Rewards Card
. This platinum credit card provides 5 points for each dollar spent at supermarkets, drugstores and gas stations for the first 12 months and one point thereafter, plus one point for all other purchases. And there's no annual fee for this platinum credit card.

AT&T Universal Savings Platinum Card. You get up to 10% off AT&T products and service for the first 12 months with this platinum credit card, as well as 30 prepaid phone minutes monthly.

Platinum Card from American Express. You earn 25,000 Membership Rewards bonus points if you spend $1,000 in the first three months. You also gain access to a 24-hour concierge service, get complimentary Airport Club Access and become part of The Membership Rewards First program, which provides exclusive rewards for luxury retail, lifestyle and travel.

Visa Black platinum credit card. This platinum (actually, more like carbon graphite black) credit card is a step toward the prestige cards -- the membership is limited, and it offers a 24-hour concierge service, an exclusive rewards program, luxury gifts ... all for an annual fee of $495. So if you're looking to transfer from a platinum credit card to one step above, this could be the card for you.
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