The UK market is still recovering from what we can only refer to as the ‘recession’, as a result of this credit cards are becoming easy things to get a hold of.
As with store reward cards, financial incentives for signing up to that new deal that is on offer, and that’s forgetting to mention the buy-now-pay-later with sky-high interest by the time the purchase has officially been cleared. This article highlights a common trick of the trade that you should be aware of as a consumer.
Those free gifts are not really free
Yes, you have it: the ‘free’ gifts are offered to make you go head over heels and sign on the dotted line. The thing is, the freebie is not really as free as you think, in fact it come with a price. Companies will offer you a free gift card, when you sign up for a credit card– BUT if you read the terms and conditions, you'll find that you are actually paying higher interest rates than competitors on the market.
The only thing luring people in is the so called ‘freebie’ but why do we continue to fall for these tricks to make us pay more? Greed and ignorance. We all want more than we paid for, and with high bills, tax increases and ever increasing financial pressure there is a share of people that will unfortunately fall for these marketing traps. Make sure that you read the small print and do your calculations before signing on the dotted line.