Use our card, the ad says, and earn rewards.

What they do is round up the purchase, so that if you are paying $32.15 with your card, they charge you $33, and they deposit the 85c into a savings account for you.

Nothing wrong with that, fundamentally, but you're not earning anything. You're embezzling from yourself - perfectly legal and moral - in order to transfer money from checking to savings.

On average, the transfer would be about 50c. If you swipe your card 30 times a month, you could accomplish the same thing by transferring $15 from checking to savings every month when you balance your checkbook, or you pay your credit card bill.

But earning?

There's no other explanation for it. They think we're stupid.

Other Bloggers On Related Topics:
credit cards - insulting advertising - savings accounts