Mrcauser’s Weblog

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Pretty good dope, I’d say. All you have to do is borrow more and you save more.

I’ll take a million of that. Kind of like buying houses with out an income. Or Obamama giving everybody a free government loan. 

Or $8 bucks a week.

New reward cards make it easier to save – Money Features

Posted by Ismat Sarah Mangla
February 17, 2009 1:27 pm

If this recession cloud has one silver lining, it’s that Americans are saving more. (How that’s probably dismal for the economy as a whole is another post for another day.) But the truth is, we’re probably still not saving enough. Even in these tough times, saving requires a fair amount of self-discipline. I was talking to the Undercover Economist the other day, and he said that beyond automated processes such as 401(k) paycheck deductions, socking away cash is still excruciatingly difficult.
Fidelity Retirement Rewards

Fidelity Retirement Rewards

Now, it seems like credit card companies are capitalizing on the need for more automated savings programs by offering new reward cards that supposedly help customers save or pay down debt. For example, there’s the Wells Fargo Home Rebate Card, which allows users to earn 1% back on purchases (and there’s no cap on the amount you can earn). But the rebate doesn’t result in cash in your wallet; instead, it’s paid in $25 increments toward the loan principal on most Wells Fargo mortgages. And then there are the Fidelity Retirement Rewards or 529 College Rewards American Express Cards: You earn 2% cash back on purchases (again, no cap), but the money must be deposited into a Fidelity IRA or 529. (You can also redeem points for WorldPoints rewards, a program that offers travel and other merchandise.)


Written by mrcauser

February 18, 2009 at 9:00 pm

Posted in Uncategorized

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