A few months ago, I applied for an Amazon credit card to take advantage of its £10 voucher upon approval. I got the card and I probably spent the £10 voucher already and I still find myself using it for everyday purchases. Before this card, I was actually using Lloyds TSB American Express card for my daily purchases. However, the points calculation is a bit high end. I will get only 1 point for every £10 spent. Worst still, I only get 1 point for every £50 worth of purchases if I were to use Lloyds TSB Master Card. Amazon credit card, on the other hand, gives 1 point for every £2 on purchases outside Amazon.
In my opinion, credit card handler still requires a lot of discipline. Otherwise, debts will follow very soon. Take my case for example. Before I applied Amazon credit card, Mee and I were already planning a trip to Greece. Soon after I got the credit card, we thought it would be good to use the card as the rewards are much better than Lloyds TSB. When we came back from Greece, I found out that there is a promotion of 0% interest for any purchase until the end of November 2011. Immediately, I thought that I could actually separate my payments into several months. What I didn’t think about is that I have to carefully plan my payment otherwise, my monthly expenditure will just keep adding on and on.
Well, I manage well and I am well on time to clear my bill before November. It’s just one of those things where I feel that credit card users could easily trap by promotions that look too good to be true. Indeed the idea of 0% interest is great but I believe that credit card companies are always hoping that will encourage its users to keep spending. Anyway, these are just plastic cards and there are no real value in them. We still have to use our hard earn money to clear the bill.