Flash forward 50 or so years, and you can't escape them. But they aren't just credit cards anymore, there are Air Miles cards and cards to earn you movie tickets and makeup... it almost starts to feel like, if your credit card isn't also garnering you some sort of points, you're missing out. But is that true?
|Did you know that you can even play Monopoly now with credit cards instead of those rewarding, gigantic piles of fake cash?|
When I was in my first year of university, I wandered out of the student union building and there was some dude there signing people up for credit cards. "Sure!" I said, not realizing THE TERRIBLE PATH I WAS ABOUT TO GO DOWN (of credit card debt I'm still working my way out of). On top of that, the card gave me points towards buying a new car. I DON'T EVEN HAVE A DRIVER'S LICENSE.
It was a terrible deal, and many people (including Gail Vaz-Oxlade on numerous occasions!) have spoken about how it's way too easy for people who don't know what they're doing to get a credit card. Not only do these people (like my younger self) not fully comprehend how these cards *should* be used (i.e. buy stuff, pay them back right away) but if all you see is one dude hawking cards on the campus? You just sign up without comparing his deal (money off of car purchases) to others that may suit you better - like a card that gives you points towards groceries, or one that is linked to your bank account so you aren't ever spending your actual money, or even interest free credit cards.
|A credit card you can also wear as a dress is a different kind of reward.|
Remember when she won an Oscar in this look? Fabulous.
Nowadays, I only have one credit card, and the only perk it has is a low interest rate and no annual fees. I also know some people who have Air Miles cards and it works out great for them to get cheap/free trips (seemingly) all the time. So I don't know. I guess it's a case of, if the perk is something for sure you'll use and it works out to save you money (even with the annual fee) then go for it.
Do you guys use reward credit cards? Do you find it's worth it?