There is a rising trend in the popularity of credit cards. Debit cards and credit cards are offered in different types such as Gold, Platinum, and Titanium. Have you ever wondered what these card types signify? If not, then keep on reading. We will delve into the meanings behind these different types of cards. 

Debit cards and credit cards have a 16-digit card number, an expiration date, magnetic strips, and EMV chips. Both types of cards can be used for transactions both offline and online. 

Debit and Credit Cards

There is a key distinction between both of these cards. With a debit card, you can only withdraw funds that are available in your bank account. On the other hand, a credit card allows you to spend up to a predetermined credit limit. Through a credit card, you can borrow money which must be repaid later. Various fees like annual fees and late payment fees are applicable on credit cards. On the contrary, debit cards only require payment of an annual fee.

Debit and credit cards are often available in Gold, Platinum, and Titanium types. Let’s learn more about them. 

Classic Card: This is the basic card type which is made available to all customers. It offers basic services and features, making it accessible to a wide range of users. This card can also be replaced at any time. 

Gold Card: The Gold card allows users to make purchases and transactions internationally. Cardholders can benefit from global customer assistance services. The other benefits may include higher credit limits, travel insurance, and reward programmes.

Platinum Card: Customers receive benefits of withdrawing cash at international ATMs. Some banks may offer services like higher reward rates, airport lounge access, and travel insurance. 

Titanium Card: It offers the highest credit limit available. It is typically issued to people with excellent credit histories and higher incomes. People can enjoy luxurious perks like elite status in loyalty programmes and access to VIP events.