For the next six months, my Shell MasterCard will reward me with a 10% rebate for every dollar I spend at Shell. (It goes down to 5% after six months.) Wow! So if they’re charging $2.25/gallon, I’m effectively paying $2.03/gallon, right? Take that, Arco!
Speaking of credit cards, Jeff brought up the perplexing perspective (and I have probably butchered up the argument) that every dollar that I’m regaining through a credit card rewards program is only made possible by the fact that the credit card company is turning huge profits by exploiting the individuals who are trapped in perpetual credit card debt, doomed to pay for charges with exorbitant interest rates due to poor spending habits and ignorance about how to maintain healthy personal finances. Hmm… Does my gain really imply someone else’s loss?
Just read Rich Dad, Poor Dad recently. Yet another controversial book on Amazon.com. Regardless, I realized I definitely need to improve my financial literacy.