Random Thoughts

In your face, credit card!

From ultimaterewards.com

Image from ultimaterewards.com

I’m pretty sure my credit card company hates me. They’ve raised my APR from 8.25% to 15.25%!

But, the joke’s on them! I’m what credit card companies call a “freeloader” or a “leech” because they don’t make any money from me. The point of a credit card is essentially to provide me a convenient way of paying, while charging me for that service. However, since I pay off my credit card in full every month, they can’t charge me interest.

Another blow to them is that my credit card is a rewards card. I earn 5% on select categories and 1% on everything else. Say this month’s category is Department Stores and I managed to spend $500 in that category and $100 on non-category items. That means I’ve earned 250 points ($25)  in the Department Stores category and 10 points ($1) on the rest of my purchases. So, in one month, I’ve already earned $26 from the credit card company for using their card!

Granted, I don’t spend that much money, but you get the picture. I’m making money off their card, as opposed to the other way around. And, that brings me to my sucker punch to their face! I have collected enough points to pay off all of my Christmas/holiday shopping this year, with some points leftover

Happy holidays, greedy corporate pigs!


17 thoughts on “In your face, credit card!

  1. You know I was planning before to have credit card.. but just to think that I’m very gastadora.. I think credit card wouldn’t help me.. hahaha… so ayun saving account na lang much better..

    • anne says:

      Hahaha. I needed one because it’s safer to carry than cash, just in case. Plus, my bank is out of the way so I couldn’t always withdraw cash whenever I needed to. And, you can’t really live here without establishing credit, so this is mine.

  2. I don’t have a credit card but I know about banks’ ploys! They seem to punish people who don’t pay off their credit cards, but they also reward people who do… I think my mum has been able to increase her credit card limit a few times.

    If I had a credit card I don’t think I’d be tempted to buy anything; I don’t really spend the money I have in my account and I’m pretty wise when I spend… so yeah.

    • anne says:

      I’ve always paid off my credit card in full every month, so the big bump in APR really angered me. It’s almost like a trap. Like they’re waiting for me to mess up, and when I do, they’ll slap me with crazy high interest.

      I’m the same as you. It’s common sense to only spend what you have, and that’s what I’ve always done. I’ve always treated my card like it was cash in my wallet, so I never spend more than I have.

  3. It’s amazing that you’re using your credit card wisely. It’s not an “evil plastic” after all Good for you! Wish I could use my own credit card in that way once I receive it!

    BTW I tweaked my giveaway’s mechanics a bit Hope you could check. Thanks!

    • anne says:

      Yes, I am very proud of that! I don’t want to be like those people who keep incurring thousands of dollars in debt. Plus, it affects my credit rating and that’s very important here.

      Thanks, Gel! I’ll check it out

  4. good for you!!!! my credit card also offers something similar to yours (rewards and points)…
    some people get tempted when they get their hands on the plastic thingies and spend like there’s no tomorrow..
    i’ve got a credit card but don’t use it much…i still prefer paying in cash. hahaha

    • anne says:

      For some reason, some people think it’s an endless supply of money. Unfortunately, they don’t realize, or want to realize, that they’ll have to pay for all of it. Good for you on paying cash!

  5. You definitely know how to safe I just use my mastercard without knowing anything about it, just that I’m suppose to get a monthly bill. ~ Don’t laugh, but I’m still in the stage of everything $$$ being handled by my mum.

    • anne says:

      One step at a time, right? I’m sure one day, you’ll be comfortable handling your finances. My first credit card was handled by my dad; but when I got my first job, I decided to be more independent and to do it on my own.

  6. I don’t have credit card since I am still a student xD hihi. and I am not very familiar about what’s on having a credit card. All i know is that you can borrow money from the bank company you had and pay it in the bank. hihii

    • anne says:

      My parents got me my first one when I was a student to help facilitate buying books and other materials for school. I didn’t want to abuse the privilege and ruin my parents’ credit rating so I learned more about it, and made sure to use it well. When I got my first job, I got my own

  7. It’s sad, but I’ve very little clue how a credit card works.. In fact, I’m not even sure what APR means. Yet I own a credit card..

    • anne says:

      APR is Annual Percentage Rate. It’s the yearly interest charged when you carry over a balance. I’m not sure if it’s different in every country…

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