I’m not the only one phoning in an article today. It looks like SmartMoney has published a new financial insight straight from 1998 in their article Now, Gold Cards for Everyone. Ms. Grant writes: “An invitation to join the ranks of gold- and platinum-card holders isn’t the exclusive privilege it once was. Issuers are offering more of these cards, to a wider range of people.”
You mean there is someone out there who thinks that owning a gold, platinum, or uranium* colored credit card means that they are elite in some way? How naive. I know for a fact that the term “platinum” was meaningless since at least 2003, as I qualified for a platinum card. At that time I was a college student and drive-thru clerk at Wendy’s** That’s right, my hamburger-and-french-fry-smelling-chili-stained-t-shirt-wearing self had a platinum credit card. Not only did I have a platinum credit card, but my credit limit was about $6,400.
To put this in perspective, my annual income at the time was about $6,400. Ish. if you rounded up.
So, please, please, don’t think of a precious metal or rare earth colored credit card as a reflection of your personal value. It’s just a reflection of the credit card company’s marketing savvy.
And remember, if a greasy semi-employed undergraduate college student can get a platinum card, well, what does that tell you about platinum cards?
* It glows in the dark.
** Dates may not be exact. My recollection is a little fuzzy and I don’t want to bother to look it up. See the first sentence about phoning in the article for more detail.