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What do credit card colours mean?
The spectrum of colours for credit cards—ranging from black to titanium, platinum, gold and silver— is a not-so-subtle signal of wealth and financial status. In the popular imagination it’s often tied to specific (read: higher) levels of spending, as well as access to more exclusive benefits and rewards schemes.
Lenders may choose to use a hierarchy of colours with credit cards, such as:
- titanium, diamond, black
- platinum
- gold or silver.
With credit cards now fairly commonplace (and some providers even moving away from physical cards towards electronic payments), you may be wondering what these colours actually mean in the present day.
For illustrative purposes, we have looked at three prominent credit card providers— Commonwealth Bank, ANZ and American Express— to explore what each of their different-coloured cards signifies, and how they differ.
What’s the difference between CommBank credit card colours?
Commonwealth Bank offers a range of Mastercard credit cards in different packages, with colours such as gold and platinum, and choices such as diamond for customers. There are some differences, as we explain here.
CommBank Gold vs standard credit cards
CommBank uses Gold in the names of some of its low-rate and low-fee range of products. The major differences are that the Gold cards offer more insurances than the non-Gold cards, such as travel, purchase protection and extended warranty insurances. The Gold cards also have a higher minimum credit limit, and higher annual fee.
CommBank Platinum vs Diamond vs ultimate credit cards
CommBank offers a range of awards cards at four levels, Awards, Platinum Awards, Diamond Awards and Ultimate Awards (which has an all-black card). The major differences between these cards, at the time of writing, is that the standard card generally has a much smaller minimum credit limit and annual or monthly package fee, but does not include as many different types of complimentary insurances as the other ‘colour’ cards. The amount of points each coloured card can earn with each dollar spent and in total per year differs, too.
What’s the difference between ANZ credit card colours?
ANZ Visa credit cards are offered in platinum and black, across its low annual fee, rewards and frequent flyer ranges.
ANZ Platinum cards
The ANZ Platinum card offers complimentary insurances, including travel insurance, to cardholders, but does not award points for spending. The ANZ Frequent Flyer Platinum offers uncapped Qantas Points for spending, while the ANZ Rewards Platinum offers uncapped Rewards Points, with the earn rate for points reduced after a certain spending threshold for both cards. Both come with complimentary insurances, including travel.
ANZ Black cards
The ANZ Frequent Flyer Black and ANZ Rewards Black offer the highest potential earn ratio for Qantas Frequent Flyer points and Rewards Points respectively, although the earn rate for points is also capped after a certain spending threshold for both cards. Both come with complimentary insurances, including travel.
What’s the difference between American Express credit card colours?
In Australia, American Express credit cards are branded using a range of words to describe different credit card packages, but Platinum is to be the only ‘colour’ used.
American Express Platinum Cards
The AMEX Platinum Card is aimed at travellers, and comes with generous perks including annual travel and dining credits, and airport lounge access, and its premium features come with a premium price tag to match. Unlike the Platinum card, the Platinum Edge is geared more towards everyday spending. It does not come with the extensive travel perks of the Platinum card, with the main potential drawcard being rewards points.
Does the colour matter when it comes to credit cards?
In reality, the colour of a credit card does not necessarily reflect the prestige of that card (or the person wielding it). The black and white of the card’s terms and conditions ultimately determine what you’re signing up for. Plus, regardless of the colour of your credit card, taking steps to stay out of the red and make regular, on-time repayments is really important. Regularly repaying any expenses on your credit card may help to minimise interest, fees and changes, and safeguard and protect your credit rating.
In any event, prestige, like beauty, is in the eye of the beholder. Just because a card offers more features or rewards, doesn’t mean it isn’t without downsides that outweigh the benefits, such as a large annual fee or a higher purchase interest rate. It’s not the colour of a card that matters when it comes to sound financial moves. Instead, it’s important to think about whether or not the credit card package is a good fit for your personal needs, and whether taking one out at all is a sensible decision for you.
If you are in the market for a credit card, and would like to explore your options, you can compare credit cards with Canstar.
Is a coloured credit card worth it?
Before deciding on a credit card, it could be a wise idea to research the different types of card packages available and compare their interest rates and features to see if they match your needs. Keep in mind that there could be other fees and charges associated with these cards, and that not everyone could be offered or eligible to apply for the cards. Read the terms and conditions carefully, and the credit card insurance product disclosure statement, awards programs terms and conditions, the products’ Target Market Determination (TMD), and any other important documents.
