Chrome plating provides a silver looking finish. Polished Chrome gives that same finish a 'mirror' look, both bright and reflective. Used for many years in the auto industry, chrome provides excellent corrosion resistance and durability. The reflectivity comes from polishing the base material and a bright coat of Nickel underneath. This finish is what most people think of when they refer to chrome plating.
Satin Chrome is an understated finish that often resembles a raw metal look. It provides the same corrosion resistance as bright chrome plating but none of the reflectivity. The base material is usually ground before a nickel plate is applied. As with many other matte finishes it has become extremely popular.