You are Welcome (well, Not anymore lol)

“The problem with credit cards is and remains the users.”

I agree with you 100% – credit cards are just a tool like anything else

The problem with credit cards is and remains the users. Yes, reward cards exist to make money by getting people to use them and take on debt. As do all credit cards. The rewards are there to draw you to a certain bank. Getting out of debt is a matter of self control. Credit cards don’t trick you into debt, they just make it easy to get there.

If you’re one of the 55% that do not pay off your balance, you are paying for the rewards that the other 45% of us enjoy. Thank you for your generous contribution.

And finally, whether you are still paying off cards or not, reward cards can be worth it. Use a rewards card for your day to day spending and pay it off every single month. If you were otherwise going to put those purchases on a card where you are carrying a balance, you’ve just saved yourself an assload of interest. If you were going to pay cash, you get a 2% discount on everything you buy. As long as you continue to make the same purchases either way, it’s a winner.

If you’ll change your behaviour by having a new card then no, don’t get one. But that’s not a rule that applies anything close to universally.

What I was saying in the post that the above rewards aren’t worth it to me YET. This is mainly because I am currently carrying a monthly balance.

The few bucks I might receive as a “reward” isn’t worth the interest I would probably have to pay on the card.

If you are currently rocking out a 0 balance, and can handle sending money every month – CCs are a great tool

Cashless Transaction. You don’t have to bring much money when buying expensive things.

Float Advantage. This refers to the time it takes the credit card company to bill you for the purchases you made. You can practically purchase without money and you give yourself enough time to earn that money to pay off that purchase. So there’s no urgency to pay off quickly.

Reward Points. A lot of credit cards have these where you can accumulate points for every purchase you make and later on exchange them to freebies like appliances, gift checks, and even free vacation trips abroad!

Huge Discounts. Credit card companies offer huge discounts with their partner establishments. Some even entitles you to a free meal if you met the minimum purchase.

Oh, by the way we have almost the same tag line, mine is “Journey to Your Millions”

I stumble on this article in the journal today myself and I found it to be very perplexing, especially on the part of Fidelity to provide a card that contributes to a retirement fund.

I look at it this way, Fidelity doesnt care if you rack up credit card debt (No where in the article do they promote paying it off quickly, nor should they but just saying) in order to save up for retirement? I know it is an extreme way of interpreting this product, but it still is an approach?

Another example of company’s trying to invent new ways to make a buck and take advantage of the credit card reliant consumer.