Credit Card Marketing

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HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Credit Card Marketing

Post by HappyDaze »

As I am paying off credit card debt (almost there - WOOT!!) I am seeing more offers in the mail - both from cards I have paid off and cards I've never heard of. Cash back, points, 0% balance transfers - you name it, they off it. These all get shredded of course. What bothers me is the extent to which these companies will go to reel you back in - it's absurd.
It isn't just the credit card companies of course - we are slammed with messages trying to get us to buy, spend, acquire - and I think it is so sad. But I think credit card companies try to market themselves as a way to improve your life, be your emergency fund, get your home up to par, etc. Has anyone else noticed this - with any credit card companies, retailers, etc.?
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
floridacatlover
Posts: 8058
Joined: Fri Aug 28, 2015 7:21 am

Re: Credit Card Marketing

Post by floridacatlover »

On the one hand, I like the offers that give me hundreds of $$ for free when I open a new card and spend a certain amount. Most of my cc do not pester me to continue to spend. But I have one card that recently began sending emails and regular mail with really forceful messages that I should SPEND. I’m considering canceling the card - even though I’ve had it a long time and they say it hurts your credit rating to cancel - because I hate their messaging.
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: Credit Card Marketing

Post by HappyDaze »

floridacatlover wrote: Sun Nov 28, 2021 12:36 pm On the one hand, I like the offers that give me hundreds of $$ for free when I open a new card and spend a certain amount. Most of my cc do not pester me to continue to spend. But I have one card that recently began sending emails and regular mail with really forceful messages that I should SPEND. I’m considering canceling the card - even though I’ve had it a long time and they say it hurts your credit rating to cancel - because I hate their messaging.
Exactly - I feel like they are just counting on people not paying off their balances in full and then WHAM, they have people at that 20-something percent interest rate.
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
floridacatlover
Posts: 8058
Joined: Fri Aug 28, 2015 7:21 am

Re: Credit Card Marketing

Post by floridacatlover »

HappyDaze wrote: Sun Nov 28, 2021 12:52 pm Exactly - I feel like they are just counting on people not paying off their balances in full and then WHAM, they have people at that 20-something percent interest rate.
Two other things I’m also seeing more and more. 1. “Update your information so we can increase your credit limit.” 2. 0% interest for the next 12 months.

I have always thought that credit cards are a big reason why so many people are broke. When our parents were young, they saved for purchases or used layaway. Those days are gone for many people.
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: Credit Card Marketing

Post by HappyDaze »

floridacatlover wrote: Sun Nov 28, 2021 2:35 pm Two other things I’m also seeing more and more. 1. “Update your information so we can increase your credit limit.” 2. 0% interest for the next 12 months.

I have always thought that credit cards are a big reason why so many people are broke. When our parents were young, they saved for purchases or used layaway. Those days are gone for many people.
I believe that too - and how sad. I think there is something to be said for the satisfaction of saving for something that you need/want and paying cold, hard cash for it.
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
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MackerelCat
Posts: 7259
Joined: Thu Aug 27, 2015 9:44 pm

Re: Credit Card Marketing

Post by MackerelCat »

There was one year when DH and I had paid off all our credit cards and we were hit by such an onslaught of offers that we threw all of them in a box and counted them at the end of the year. We received 146 offers in a year, mostly to DH and myself, but my mom, who was in the nursing home, received 17, and DS, who was only 14, received one, probably because his name was on our dog's registration papers.

DH says we hardly ever get them now and DS gets only a few.
Mackie
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