How far will we go just to perceive that we are saving money? I find myself amazed by this all the time. I see people use credit cards and justify it because the card has “rewards”. I see people use credit cards to buy gift cards in $50 increments just to receive “rewards”. I see them sign up for specific retail brand credit cards to get even more “rewards” or they shop at a certain places….STOP! I could go on but I will save you from the confusion.
The problem with all this personal financial wittiness is that….YOU ARE SPENDING MORE! If you are spending more money, they must be making more money. Who is receiving the “rewards”? Understand that credit card companies are excellent at marketing. They make money when you use their card. Credit card companies and businesses know you spend more money with plastic. Would Walmart allow for credit cards if it hurt their profits?
The average debt of a household with a credit card is $16,000.....wow!
Did you know that McDonald’s average sale went for $4.50 to $7.00 the day they implemented credit cards. Good for McDonalds
Did you know that on average consumers pay 12 to 18% more when they use plastic...show me a credit card that can “reward” you 18%....for some reason it hurts a little more to break the $20 or $50 than swipe the card.
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