Points points points... wherever you turn, it's points! Is it just me or does everyone feel overwhelmed by this sudden surge in attracting credit card consumers with points or cash back rewards? As a seasoned veteran in the art of maxing out credit cards, I have to say that I am really disappointed about losing a whole lot of points, just because it's a relatively new concept. If someone gave me a point for each dollar I spent on my credit cards when I was a student, I would exactly have - well not exactly - but roughly 20000 points. Where are the credit card gods when you need justice? Where are the pre-approved mails when you badly need a credit card with 0% APR for balance transfers? OK, that is a little off-topic! If it's not the points, then it's the cash back rewards. Correct me if I am wrong, wasn't there a period when credit cards were considered a luxury or a status symbol, way back in the 17th century or something? Now, the credit card companies are giving us cash back? Talk about marketing strategies! I used to think that the credit card companies get their money only from the interest amounts and used to wonder how they would make any money with people who pay their balances in full each month (NOW, which one of you called me a dummy, huh?). And yes, now I know the merchant also gets charged for each transaction. Looks like I have to change the topic to "Credit Card for Dummies" if I keep writing in the same vein. Did you really know that American Express card does not guarantee payment to the merchant if the consumer defaults on payment? THAT IS CRUEL! Ok, I will stop. I swear this post is about the points and cash back rewards.
So, now I am getting all kinds pre-approved credit card offers, like 2 everyday. Anyone who knows me well knows why I even have to mention that here. There was a time when credit card companies used to run with their heads falling off of their bodies (tried to translate "Thalai therikka odinaanaga!") whenever I used to apply for a credit card. When I see all these offers now, I say to myself, "Oh, now you want me to be your customer?" and then I think, "I have never been pre-approved for anything in my life!" a la Joey from friends, while my eyes get all glazed. One more time, coming back to the actual topic of points and cash back, Now one of my credit cards gets me 5% cash back on certain purchases. If you think I am not going to make full use of it owing to my previous experiences, then I am sorry Amigo, you are so wrongo! It's time for PAYBACK. No, not that stupid Mel Gibson movie! I really don't know if I did any justice at all to the topic, but who cares, it's my blog and I am doing some general whining here. PHEW, I justified the label for this post too! THAT'S ALL FOLKS!!!
2 comments:
Among all the incentives the most reliable ones are probably low APR or no fees. To receive the points or cash back you will have to spend very much, while these features apply in any case.
Guess you've made it in life then :-) What's with the new blog look and feel?
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