Sweepsplayer conspiracy! (rewards card thread)

ok, so we've had this discussion before, I don't like credit cards or the industry in general but I appreciate their use as a tool, one I do use (so I'm a hypocrite, not exactly an earth shattering revelation.)


I've never bothered with a rewards card because of the aforementioned snobby, elitist viewpoints I carry around. Plus, as I've indicated in conversations with Sweeps and others, I can't be sure I wouldn't subconciously spend more because I knew I was getting a reward eventually thereby negating the benefit.


Suddenly this weekend, my Capital One card (the only one I have) stops working. First rejection didn't worry me, three more and I grew concerned.


I was forced to do something that ranks only barely above having rabid sewer rats let loose in my undershorts...call a credit card company.


Turns out I have a rewards card now. They inactivated the card I have in lieu of the "no hassle" rewards card assuming I had already received it. Thanks for letting me know guys, you've now hassled me with your no hassle card.


I believe this to be a conspiracy on Sweepsplayer's part. I'm sure of it. I haven't the proof yet but I'll find it.





Anyway, now that I've been sucked over to the "dark side", does anyone know what the "no hassle" cash rewards program for Capital One entails?

They tell me the details will come with the card but I'm impatient.


oh, and do we get jackets or something in this club? is there a clubhouse? do I have to manipulate some form of fruit with my buttocks in some initiation?


need to know this stuff.

[disneysteve]

I know nothing about their program, but I'm concerned that they "assumed" you have received the card. Credit cards need to be activated when you receive them. They should know if that occurred or not. If it did, someone may have swiped your card from the mail. I'd call them back and find out when it was mailed and whether or not it has been activated. Also, find out if it has been used yet.

[creditcardfree]

Oh, I'm sure that no hassle card is going to come with some hassle. Have fun.

I do agree that one spends more when rewards are attached. I was definitely spending more at Target with my Target card. I still love the store...not the card.

I'm still CC Free...you wouldn't believe how tempted I've been the last few weeks with our upcoming move to get a cc. That wouldn't look good on my credit report...for my new mortgage company. Thanks for reminding me that I shouldn't get one!!!

[sweeps]

Catchy title.

nope, not been activated or used yet.


I too am very puzzled / unsettled that they would just send me a card in the mail outside of the replacement they send when your expiration date comes to pass -- that one I know is coming and would be aware if it didn't show up. In this case, I didn't know the new one was coming and had the timing fell just right it would have been weeks before I knew anything was up with the current card (assuming this new one got stolen and never arrived.)



not to mention kill off the current card without having seen the activation come through.



although I really don't want to, it makes me debate the wisdom of obtaining a second card. had I been on the road this weekend, that really would have irked me and my demeanor would not be quite so jovial.

[jmjj215]

Originally Posted by creditcardfree

I do agree that one spends more when rewards are attached. I was definitely spending more at Target with my Target card. I still love the store...not the card.

For what it's worth, I tracked my spending for about 18 months prior to getting any type of CC. I still track my spending and put everything on the rewards CC and have noticed a decline in my spending over the past 18 months (with the CC, 3 years total time-frame of tracking).

To each his own I guess. I believe actively budgeting will substantially mitigate the risk of subconsciously increasing your spending because of using a rewards card.

[Ima saver]

I don't believe that we overspend, although studies show that most people do. Our reward credit card is using mostly at home depot. My husband charges his building supplies for the spec house he is building and i pay it off in full every month.

I don'tike the idea that they cancelled your card and sent you a new one, That is awful!

[disneysteve]

Originally Posted by creditcardfree

I do agree that one spends more when rewards are attached.

I always wonder about this. When I'm in a store deciding on a purchase, I consider several factors, but how I plan to pay just isn't one of them. I almost never spend cash, but I have the self-discipline to not buy things I don't need and to look for good deals on the things I do need.

[Ima saver]

For me, it is a wal mart thing. If I am going to pay cash, I just buy what I came for. If I am going to charge, then I look all around the store. Good thing I only go there 3 times a year.

I honestly don't think I'll spend any more if I start using the card to take advantage of the rewards.

It's a concern for people in general I think but my spending habits are already so ingrained as is my irrational hatred of debt, that I'm sure I'll be fine.

Originally Posted by Sweepsplayer

Catchy title.

made ya look!


[nelsonmuntz] HA HA [/nelsonmuntz]

[boefixepa]

I personally really like the rewards thing. I don't see how I could spend more as I never have cash anyway! Cash is some ambigous unaccountable thing for me...I've always had a CC or a debit card. Cash always seems to leave me, by theft, loss (probably theft I didn't know about) or easy answer. I honestly believe CC/Debit cards work better for me...I am accountable for every charge, it has to have a place in the budget. Cash is 'free' money...already taken out of the system.

Rewards are income in my book and every little bit helps! I work the system when it comes to CC. I have no hassel rewards and just recently cashed them in for a $100.00 credit, thank you! Capital One is a source of income for me! (I'd been saving those points for a plane ticket, but come on....I'm never going to get to 60K! So I took the money.)

[DivaJen]

Originally Posted by jmjj215

I believe actively budgeting will substantially mitigate the risk of subconsciously increasing your spending because of using a rewards card.

I completely agree.

I think at the heart of the belief is that, at the moment of purchase you may opt to supersize that meal at McDonalds because hey, I'm getting rewards for spending this money, what the heck?

A silly example but I think it makes the point. It would be the incidentals that would erode the gain from the rewards. I really don't think anyone's going to choose to buy a $1500 HDTV just because they are getting rewards but the thought is they might be willing to push the upper limit some (slightly bigger screen, cables from the retailer, or something similar.)

small amounts here and there but over a year, they would conceivably add up.


anyway, not really concerned it will be a problem for me.


if it turns out to be, my theory about Sweeps will have been right all along!

[sweeps]

I don't think the rewards have much to do with it (let's face it -- 1% isn't that big of a deal), but I agree with the assertion that credit cards allow people to spend more than they would otherwise. I would include debit cards in that as well.

But let's face it -- this isn't the 1950's any more. Cash and check transactions are going away and are being completely replaced by electronic commerce. Those who are clinging to the old cash-in-the-envelope days are going to be left behind. Everyone needs to learn now how to budget and spend responsibly with virtual money.

[boefixepa]

I saw a guy at PetsMart the other day pull out his checkbook and a pen...I switched lanes. The thought processes...I had not desire to sit there and wait while he wrote out a check. I feel the same way about people who sit there and count out everything to the penny with cash. Or then have to wait for a cashier who is money challenged have to count back change. How they exist I don't know, but they do. I walked out the store right behind him. My whole check out process, including waiting on the person who was not yet finished, that's how long it took him to write a check! To each their own.

Originally Posted by Sweepsplayer

Those who are clinging to the old cash-in-the-envelope days are going to be left behind. Everyone needs to learn now how to budget and spend responsibly with virtual money.

amen!