In some previous reviews, we've raised the concept of value strata - where a range of products have incrementally higher prices with a disproportionate increase in value. The example we often use is Foxtel: you could get the basic package, but for only a few dollars more a month, you can get the next highest package that offers a lot more value. Then, you could pay even more money and get even better value etc. Before you know it, you're signed up to the platinum package.
The St George Gold Low Rate is a textbook example of value strata. It's a good card that offers some great features, but for only $10 more (and a very slight increase in the cash rate), you could get the
Platinum which offers much more than $10 additional value.
The two cards are very similar. You still get 14.25% on purchases, 55 days interest free, 3 free additional cards and St George Instant Benefits.
As mentioned above, the Gold Low Rate has a slightly lower annual fee ($79 instead of $89) and doesn't offer domestic travel inconvenience insurance, best price guarantee or the personal concierge service. The cash rate is also slightly lower on this card (18.25% instead of 19.99%).
Some people may feel they simply won't use the personal concierge service, best price guarantee and won't travel domestically, so the additional $10 per year may not seem worth it, but I'd be willing to bet the majority of people will prefer the Platinum. For travellers, $10 for domestic travel inconvenience insurance (which protects you for lost luggage, delayed flights etc) is a bargain. Plus, almost all of us have bought an item, only to see it advertised cheaper a week later (best price guarantee will refund you the difference on these occasions).
Bottom-line: consider the St George Platinum, which seems to offer a large increase in value for a small increase in price. If you're particularly frugal and don't want to part with the additional $10 per year, this is still a fantastic card. You won't find too many mid-range cards with a purchase rate and annual fee this low.
