Thursday, October 15, 2009

Such a Great Deal!

I got an email from Chase today telling me to enroll in their "FREE debit rewards program ... And if you enroll by November 30, 2009, you'll get a $10 gift card!" After reading the fine print, it turns out that $10 gift card actually is a free $10 gift card. Awesome. But the free debit rewards program is completely useless.

In the email they tell you that you'll earn 1 point for every $1 you spend. Then in the fine print, they tell you that the $10 gift card will come in the form of 5,500 points, which is equivalent to a $10 gift card... meaning that you're earning 0.18% on your purchases. In other words, in order to earn a $10 gift card, you need to spend $5,500! If you want to get that $50 Macy's gift card they have on their site's main redemption page, you'll need to spend $20,000! I think I'll stick with my credit card rewards program, which earns more than five times the amount this debit card rewards program is paying. But I'll gladly take them up on their free gift card offer.

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