Why do finance companies send you little approval cards?
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I got one today from Chase.. a "Best Rate Certification" card with a reservation number and an 800 number embossed on it.. WTF do they think we're going to do with these things? Carry them in our wallets? Please.
Why do finance companies send you little approval cards?They want you to activate the credit (or debit) card and start using it. They make lots of money on the rates they charge on every purchase you make if you pay late or pay only part of what you owe. On some cards, once in debt every dollar you spend costs you more than twice as much. The low starting rate is just to lure you in.
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