A "sporting" chance?
Out here in rural North Carolina, hunting is still a widely practiced part of the social fabric. Things really start popping in the Fall when deer season takes hold.
Local folks consider deer hunting a "sport"- just like football, baseball, soccer. Always found that idea hilarious. Sorta unusual to think of deer hunting as a competitive game, when one competitor is equipped with a high-powered rifle, while the other one isn't. A sport where one player controls all the rules, while the opponent doesn't even know it is "playing"!
Quite a "sport"!, which brings us back to "rewards" cards and "the other player" in that game... the "revolver".
😎From a commenter yesterday [link]: On "transactors and revolvers ... "a very valuable term and distinction that gets right what is a good topic - who the winners and losers are in a rewards program."
You saw yesterday that a rewards card works well for "the transactors". Those members work to accumulate rewards, but avoid interest charges by paying the balance off each month look like the "winners".
That leaves the "revolvers" who must be the "losers" according to our commenter. Why so? Because the "revolvers" pay the highest rates (15% to 18%!) charged by SECU for the privilege of "hunting" for those rewards. The non-rewards SECU credit card is 3.00% less. In fact, all other SECU loan alternatives have substantially lower rates!
😎 Would you be willing to pay 3%+ more on your mortgage to "earn rewards"? How about 3%+ more on your auto loan? Then why so on your credit card?
Oh deer! Something's not right...
