This and That

Credit Card Cash Back Programs

Posted on: November 3, 2011

So I am starting off this morning with a rant.

Recently I saw a Chase credit card commercial with a cash back program. The Chase Freedom credit card gives you 5% cash back when you purchase $1500 worth of stuff.

First off I think the name of this card is very interesting. Chase Freedom card. Coming from advertising/ marketing background, the name Freedom screams to me thousands of dollars spent in market research to find the perfect word that speaks to feelings of control, individuality, and independence. My question to Chase would be: how does this card give a person freedom? and freedom from what? Many times marketing or advertising companies develop a name for a product that has little to nothing to do with the item itself. The name’s only purpose is to conjure up positive images to the consumer which will hopefully be associated with the product. I am no expert but I am pretty sure that a credit card does NOT give you freedom from anything. In fact it does just the opposite. Using a credit card only chains you to the credit card company and their insanely high interest rate.

The second interesting fact about the Chase Freedom card is the 5% cash back. The commercial is so hilarious to me. It yells at the consumer “Look at all the free money we are going to give you.” But it’s not free, because I have to spend $1500 to earn the 5%. That is a whole lot of money to spend to just get $75 back. I am shocked and appalled that anyone would fall for this gimmick. How can someone think spending $1500 to get $75 is a good deal?

Chase isn’t alone in this scam. Tons of other credit card companies do this too, so I guess this must be working on some people. So disappointing. So you are reading this here is my plea to you…”Please don’t fall for this trap! It’s a scam to get your hard worked money. $75 free cash does not equal $1500 of your income spent. Don’t do it, please!”

1 Response to "Credit Card Cash Back Programs"

I so agree with you. The banks are a for profit business and, like you said, they have done a lot of research to get you to use their credit card and get your money.

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