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The lowest in the hierarchy of valuable metal named credit cards, silver credit cards have been about given that the conception of credit cards in the mid-1950s. Nowadays silver cards have been surpassed in prestige by gold credit cards and platinum credit cards and so have far more commonly come to be known as normal or simple credit cards.

Benefits of silver credit cards

The benefits that silver credit cards have over other sorts of cards contain:

  • decrease annual membership fees (if any)
  • reduce threshold salary which you require to earn if you want to apply
  • the exact same credit limit as other credit cards if you have a excellent credit history or manage your card sensibly
  •  % interest for between 6 9 months when transferring your account balance from one credit provider to yet another

The basic truth is, if you are not that fussed over the image you portray when you are out buying with your credit card, and are far more concerned with how you handle your credit card debit, then silver credit cards are undoubtedly more favourable than any other credit cards on supply.

Disadvantages of silver credit cards

  • decrease money withdrawal limits
  • less rewards in rewards promotion packages, such as a reduce percentage rate cash back return with cash back credit cards or reduced airmiles with airmile credit cards
  • much less travel perks for instance, if you have a gold or platinum card you could be entitled to automatic upgrades when travelling, but as there are far more common silver credit cardholders, it is unlikely this benefit will be afforded to you as properly
  • less prestige, which may imply retailers are less willing to give you the exact same service as they might supply to gold and platinum cardholders. payment protection claims
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