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The lowest in the hierarchy of valuable metal named credit cards, silver credit cards have been around since 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 much more typically come to be recognized as standard or basic credit cards.

Benefits of silver credit cards

The benefits that silver credit cards have over other varieties of cards include:

• lower annual membership costs (if any)

• lower threshold salary which you require to earn if you want to apply

• the identical credit limit as other credit cards if you have a excellent credit history or manage your card sensibly

•  % interest for amongst six 9 months when transferring your account balance from one particular credit provider to an additional

The straightforward reality is, if you are not that fussed more than the image you portray when you are out purchasing with your credit card, and are far more concerned with how you manage your credit card debit, then silver credit cards are definitely a lot more favourable than any other credit cards on offer.

Disadvantages of silver credit cards

• decrease money withdrawal limits

• less rewards in rewards promotion packages, such as a lower percentage rate cash back return with money back credit cards or lower airmiles with airmile credit cards

• much less travel perks for example, if you have a gold or platinum card you may possibly be entitled to automatic upgrades when travelling, but as there are far more standard silver credit cardholders, it is unlikely this advantage will be afforded to you as effectively

• significantly less prestige, which may possibly mean retailers are less willing to give you the exact same service as they could supply to gold and platinum cardholders. ppi claim companies