112K views · 490 reactions | Credit card companies create these reward programs in a way that incentivizes people to spend more than anticipated, trapping them in a vicious cycle of debt. Once you’re hooked, they can pull the ol’ bait and switch, completely revoking your rewards if you miss a payment. Rewards can be devalued at any time, making them worth less and causing you to spend more for the same perk—much like inflation. | George Kamel | Facebook
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FacebookGeorge Kamel
112K views · 490 reactions | Credit card companies create these reward programs in a way that incentivizes people to spend more than anticipated, trapping them in a vicious cycle
George Kamel. . Credit card companies create these reward programs in a way that incentivizes people to spend more than anticipated, trapping them in a vicious cycle of debt. Once you’re hooked, they can pull the ol’ bait and switch, completely revoking your rewards if you miss a payment. Rewards can be devalued at any time, making them ...
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Now get 20% and 10% cash back on every sales/e-com and POS transactions respectively using Nabil Bank’s VISA cards (debit/credit/pre-paid). For details, follow the link 'https://www.nabilbank.com/index.php/personal/card-e-banking/services/nabil-visa-card-cash-back-offer-phase-ii'. #nabilbank #cashback | NABIL BANK
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