 TITLE: What Is a Preferred Credit Card? CONTENT: What Is the Difference Between Preferred and Platinum Credit Cards?\n-------------------------------------------------------------------\nCredit card issuers use different card names to mean various things, and there aren't any hard-and-fast rules about what preferred or platinum means when attached to a given credit card. Sometimes, card issuers use words like Gold, World, Premier, Priority or Premium to communicate that these cards are of a higher tier and geared toward those with solid credit.\nWith some card issuers, a platinum credit card is of a higher echelon in terms of qualification requirements and benefits than a standard card. Like a preferred card, the rewards programs and benefit offerings provided by a platinum card may be more robust, with elite status, freebies like checked bags, and other perks. Still other issuers may use the platinum moniker more loosely, applying it to standard cards with unremarkable cardholder benefits.\nPlatinum and preferred may differ when cards carrying those labels are offered by the same card issuer. Let's look at three American Express credit cards and what they offer, for example. The Blue Cash Preferred® Card from American Express has an annual fee of $95 (after an introductory annual fee of $0 for the first year). The the Amex EveryDay® Preferred Credit Card has a $95 annual fee, while The Platinum Card® from American Express costs a whopping $550 per year. But The Platinum Card® from American Express also has a higher potential introductory offer, and provides access to certain airport lounges. Additionally, it works differently than traditional credit cards, and allows only certain charges to be carried from one month to the next, not all. Terms apply to American Express offers. Unless you're a very frequent traveler, a premium credit card may not be worth the high cost. END