I received a letter from American Express yesterday. They are trying to get me to sign up for a Gold Card. Check out the first paragraph of the letter:
One day you started doing things differently. Instead of eating, you began to dine. Instead of planning trips, you started planning journeys. And that was just the beginning. You are now invited to carry the Card that lives up to the life you’ve created for yourself - the American Express Rewards Plus Gold Card.
Wow. I feel like I’m really depriving myself by not having a gold card. Imagine the life I could have if only I had the gold card? Journeys! I should be planning journeys and using my gold card to fund them!
A little background history - Some years ago I received a similar offer for the gold card and I applied. Normally the card costs $150 for a year but they waived it the first year (which they still offer). They also offered a whole lot of bonus rewards points. I had recently gotten rid of my credit card debt and I wanted to show off my hard work at building up my credit by carrying the gold card. “Look at me, I have good credit” is what I felt like shouting out.
Yeah, it’s a bit shallow. But I felt like I deserved it. In hindsight I can’t really say what that’s supposed to mean. The card came in handy a couple of times for concerts I wanted tickets for ( I think I was able to see Prince through the gold card - great show!). I also got a gift certificate or two with rewards points I earned. Other than that the card held no uses for me. When the year was up I called up American Express and asked them if they would drop the yearly fee to keep me. They said no so I dropped the gold card. I switched to the American Express Blue and was able to keep any points I had left.
So now I get these offers. Like every month. Each one waives the fee for a year. If they would get rid of the fee forever I would still have a gold card.
It’s interesting how they market the card isn’t it. They make it seem like it’s a real prestige. They make it sound like my life is such a grand adventure that only the gold card could help me live my adventure out.
I don’t want to knock American Express. I’ve actually been very happy with them. The one time I disputed a charge (a waitress decided she should get more tip than I left) they were quick to resolve the problem and fix my account.
Thing is I just don’t need their gold card. The $150 just isn’t justified for me. There are benefits to the card but I wouldn’t use them enough to justify the cost. I’ve gotten past any perceived elite status with the card so I don’t need it to prove anything.
Thank you but I’m fine with what I have already. I’ll keep my $150 a year.
So if you get credit card offers in the mail like I do make sure you understand what the offer is and whether you need the card before you sign up. What are the benefits and costs? Will you actually be using their benefits?
There are useful cards out there that may fit your needs. Just make sure you do your research first.
What credit card stories do you have?
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photo by milenamihaylova
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i love how the credit cards market their cards.. telling us that we deserve it - if you want it - just get it - you deserve it!
the most blatant commercial for that is the one where there’s a guy deciding whether he should get a tv and the music in the background starts building…
“I want it all, I want it all, and I want it now.”
Ugh. have some self control people!
Interesting story! I can do without credit card companies and their products all together. I’m debt free except for my mortgage and I plan to stay that way. I don’t think the offers that credit card companies use to lure you in are worth the risk of incurring debt. I know that many pay off their cards every month, but what if life happens and you can’t make the payment? Credit card companies are notorious for jacking up the interest rate after just one late payment. Too much risk for me! I’ll pay cash.
Credit cards give you permission to live above your means.
Plain and simple.
@ Pete - I actually like that commercial, but only for the music!
@ Jeff - It’s great that you were able to get rid of your debt. I had lots of CC debt but managed to pay it off eventually. I find CC’s to be useful but you have to be real careful!
@ MoneyMonk - Yeah, it’s real easy to forget what you’ve spent when using a credit card.
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