Platinum credit cards have a reputation for exclusivity and prestige, but they are open to a wide range of consumers. One difference between platinum cards and regular cards is that they commonly have lower interest rates and higher annual fees. They also offer extra perks and services such as purchase insurance, rewards points, travel deals and even travel and concierge services. Here are five tips to help choose the right platinum card for you:

1. Consider your credit needs and habits. The consumers who get the most out of platinum cards are those who use their cards frequently but only spend what they can easily pay off every month. They commonly have high incomes, high spending and a lifestyle that takes advantage of the extra benefits offered by platinum cards. Questions to ask yourself include how much you spend, how quickly you pay off your balance, how much you can afford for an annual fee and which extra features you will use the most.

2. Decide which card features are most important to you. Different factors matter to different people, so take time to analyze your own priorities before taking someone else's recommendation. Consider the options available, and decide which are essential, which are preferences and which don't matter to you.

3. Compare several cards to find the best one. You may have a specific brand in mind already, but by looking at several options you can choose the one that gives you the most for your money!

4. Read the fine print. Platinum cards can cost a lot of money, so make sure you know what you are agreeing to before you submit the application. Reading the agreement in full can help you to understand all of the responsibilities and benefits and choose a card that really fits with your lifestyle.

5. Check several sources of information. The Federal Reserve publishes a survey of credit card terms every six months, and there are a wide range of websites where you can compare credit card offers and even apply online.