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by gumby 3343 days ago
> Moral of the story: rich people will always want to show off that they are rich.

I think you mean, "Some rich people are insecure enough that they want to show off that they are rich."

Amex caters to this very well: they play the whole "prestige" thing but if you have a "higher-level" card for the benefits (platinum, black) they are happy to issue you an ordinary green one you can use so people won't guess your wealth.

1 comments

You really don't need to be wealthy to get a platinum card. You don't even need to be breaking six figures. You just need a good credit score. That perception is all hype.
That's how it is here in India. They tried pushing it like "prestige", didn't work. Now they just give it to anyone with a half decent salary and a willingness to be okay with the annual fee.
You don't actually need that good a credit score, since it's a charge card, not credit. You mainly just need the >$500/yr membership fee.
>it's a charge card, not credit.

What is the difference? I have always believed the terms to be synonyms, and the Wikipedia article for "charge card" does nothing to change that impression.