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From: Mark Anderson on 2 Dec 2009 13:27
I just got a letter from my credit card company that had "Important
information regarding your account." Oh no I thought, I wonder what new
fees these bastards are going to hoist upon me now. I open the letter to
find they want me to sign up for some 3% cash back on certain
transactions like hotels and air fare. This seems like a good deal and I
couldn't find any gotcha fine print anywhere.

This led me to a couple of questions: If this is the freebie the letter
makes it out to be then why don't they just automatically enroll me?
What's the catch here? Awhile ago I had a card that I had for over a
decade that one day went to cash back. Six months later that bank
decided to get out of the credit card business. Instead of transferring
me over to some new bank they just canceled the card even though I've
never missed a payment (and also never carried a balance). I've had this
card for over a decade also and I would really hate to lose it should the
bank see me as a leech for not carrying a balance and getting 3% back on
certain purchases and then dropping me. Does anyone see a downside to
enrolling in this 3% cash back program?
From: Rod Speed on 2 Dec 2009 15:28
Mark Anderson wrote:
> I just got a letter from my credit card company that had "Important
> information regarding your account." Oh no I thought, I wonder what
> new fees these bastards are going to hoist upon me now. I open the
> letter to find they want me to sign up for some 3% cash back on
> certain transactions like hotels and air fare. This seems like a
> good deal and I couldn't find any gotcha fine print anywhere.
>
> This led me to a couple of questions: If this is the freebie the
> letter makes it out to be then why don't they just automatically
> enroll me? What's the catch here? Awhile ago I had a card that I had
> for over a decade that one day went to cash back. Six months later
> that bank decided to get out of the credit card business. Instead of
> transferring me over to some new bank they just canceled the card
> even though I've never missed a payment (and also never carried a
> balance). I've had this card for over a decade also and I would
> really hate to lose it should the bank see me as a leech for not
> carrying a balance and getting 3% back on certain purchases and then
> dropping me. Does anyone see a downside to enrolling in this 3% cash
> back program?

Not for enrolling.

If it is a desperate attempt by the bank to suck in more customers
into using their cards more, and that fails, it may get canned anyway.


From: Shawn Hirn on 4 Dec 2009 07:06
In article <jL2dnXdxPIECLIvWnZ2dnUVZ_i1i4p2d(a)speakeasy.net>,
Mark Anderson <mea(a)nospambrandylion.com> wrote:

> I just got a letter from my credit card company that had "Important
> information regarding your account." Oh no I thought, I wonder what new
> fees these bastards are going to hoist upon me now. I open the letter to
> find they want me to sign up for some 3% cash back on certain
> transactions like hotels and air fare. This seems like a good deal and I
> couldn't find any gotcha fine print anywhere.
>
> This led me to a couple of questions: If this is the freebie the letter
> makes it out to be then why don't they just automatically enroll me?

There's probably overhead with keeping people enrolled in a program like
that, plus if you are not interested, then why would they bother
enrolling you?

> What's the catch here? Awhile ago I had a card that I had for over a
> decade that one day went to cash back. Six months later that bank
> decided to get out of the credit card business. Instead of transferring
> me over to some new bank they just canceled the card even though I've
> never missed a payment (and also never carried a balance). I've had this
> card for over a decade also and I would really hate to lose it should the
> bank see me as a leech for not carrying a balance and getting 3% back on
> certain purchases and then dropping me. Does anyone see a downside to
> enrolling in this 3% cash back program?

Its all in the fine print. I have taken advantage of some deals like
that. No problems as long as you know the details of the deal.
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