Credit Card Offer - Should I Take It?

Of course, the answer to the question asked in the title is obviously "no", but the ad I received yesterday sure seemed compelling at first. It started off like this:

"It is with great pleasure that we extend to you an invitation to experience the benefits of the ****** Card"

Oooo, ahhhh. I poke fun at it, but seriously, doesn't it sound nice. I'm "invited" after all! But it gets better:

"With the addition of the *** Rewards *** Card, enjoy: The *** Rewards program - Automatically earn one point for virtually every dollar you spend on your *** Card, and enjoy rewards from hundreds of retailers, airlines and hotels worldwide."

Of course, the great fallacy is that, in order to enjoy these so-called "rewards" (which are basically just really small discounts), you have to spend, spend, spend. The more you spend, the more you save right?

Well, to genuinely save money, you need to be able to spend less on things that you purchase regularly. However, that is not really the aim here.

This sole intent of this credit card offer, is to entice you to spend more than you normally would (because you have some "points") and to do so using their card.

Of course, doing this means that you will be spending more money than you are used to, which leaves less money for real saving and debt reduction, which of course leads you further into the deep hole of debt and farther away from financial freedom.

Listen, there is nothing special about a credit card offer, gold, platinum or otherwise. They are a dime a dozen and they do not think you are special. They just want your hard earned money, period.

Don't give it to them.

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