Great "add-on" service sent by my Chase credit card!

[Coleroo]

I have an chase cc that we never use... today i received a "check" from chase and i opened it thinking it would be one of those great $20 checks that enroll you into a free "protection" programs that only cost if you carry a balance (which we never do).

Instead i find this check for $9.95. Ok, how strange, right? Well, i read the fine print... the VERY VERY fine print. (you know, that 5 inch tall fine print, 3 pt arial narrow font paragraph at the bottom of the letter)

Upon cashing the check, your card is automatically billed a "$59.99" SEMI-annual benefits fee.

The benefit?

You will receive 1-2% off of all purchases up to a whopping $100 per year CHECK sent directly to you!! ....oh wait folks... theres more.... you also get 5-10% discounts at a select variety of stores when using that card! (((((insert list of high priced specialized chain stores i never shop at anyway))))))

Ok... so i pay a $120 membership fee per year with the spending of almost $10,000 per year just so i can earn 1-2% back (UP TO $100 per year maximum) and a spending even more money per year for a small discount on stores i never would have shopped at anyway. All the while spending all this money on a high interest rate credit card.

Sounds good to me..... should i cash my $9.95 check??

[buzz]

Just as the Chase "protection" scam is for their protection, not yours, the Chase "benefits" scam is for their benefit, not yours.

[Bookie]

Just as the Chase "protection" scam is for their protection, not yours, the Chase "benefits" scam is for their benefit, not yours.

Nice line.

[Tree0164]

You have to be careful with all of this fine print.... being a wise consumer is a good thing.

I bet many people will just sign the check without even looking at the details. That is what Chase wants

[gackle]

It makes you wonder why they even have to use those sly tactics to get people to enroll in these programs. If it's really such a good deal then spell it out, plain and simple. Don't entice us with a measely $10 check and try to hide the details in small print. That's just bad business to me. Why would you want to upset your customers in the long run?

[txex86]

It makes you wonder why they even have to use those sly tactics to get people to enroll in these programs. If it's really such a good deal then spell it out, plain and simple. Don't entice us with a measely $10 check and try to hide the details in small print. That's just bad business to me. Why would you want to upset your customers in the long run?

I agree with you gackle that this is bad business practice. Sadly, there must be a significant number of their customers who don't read the fine print, cash the $10 check, and become saddled with a $60/yr. fee for a service they don't need. It seems the term, "caveat emptor", applies to much more than just purchasing goods nowadays.