Exxon/Mobil - Inflation + Greed

Just got the new credit terms for my Exxon/Mobil credit card in the mail today.
The new interest rate on purchases is 34.24%.
Seems they are trying to lower gasoline prices, but now raising the interest rates, so bottom line is that you will lose either way.
Fortunately, I am one of those who pay my bill in full every month, but I feel sorry for those who don't.
Oh, and if this has anything to do with Biden and his failure of an administration, (his Bidenomics,) I am totally against it and/or it.

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Neman1622 · 41-45, M

I typically look for cards that have a reasonable annual fee with good rewards in an area of my life that I spend good money on. The terms and rewards are better than free cards.

whowasthatmaskedman · 70-79, M

@Neman1622 And understanding that any interest or account fees paid only reduce my spending $, I only use bank debit cards with Visa or Mastercard attached so I only spend my own money..😷

Neman1622 · 41-45, M

@whowasthatmaskedman i get that, but if i use the same amount of money on the credit card of my choice, and then pay it off every month, I'm getting extra rewards that i wouldn't otherwise, so, that's a win for me. Free hotel stays, or flights.

whowasthatmaskedman · 70-79, M

@Neman1622 You and I need a long talk about the value of reward point systems. But if it fits your lifestyle.......😷

Neman1622 · 41-45, M

@whowasthatmaskedman no long talk needed. It's working great for me. I'm spending the same money I would spend anyway, and getting free lodging and flights that I otherwise would have paid for anyway. So I'm up those dollars without doing anything different.

You go ahead and pay for everything without taking advantage of reward programs, which can be done responsibly, and end up having less money in the end

whowasthatmaskedman · 70-79, M

@Neman1622 I use those that work for me.. But dont join those just for the program
😷

sladejr · 56-60, M

@Neman1622

Do you recommend one in particular?

Neman1622 · 41-45, M

@sladejr travel is my thing, is that the area you're looking in?

sladejr · 56-60, M

@Neman1622 yes and/or hotels

whowasthatmaskedman · 70-79, M

@Neman1622 No. Not since Covid. But I have supermarket reward cards that reward in discounts and connect to fuel. And to on line purchases, 😷

Neman1622 · 41-45, M

@sladejr cool. I carry a Chase Marriott card that costs $95 a year, but guarantees me at least one free night, and as we know, a night at a Marriott starts at 120, so, win. Don't know if that card is still offered though. But look for something like that. Also you rack up points for more free nights just using the card.

For flights, I really splurged in that category... not sure I'm comfortable sharing that publicly, lol. It's a card that's not cheap, but the payback is totally worth it if you're in airports even just a few times a year

sladejr · 56-60, M

@Neman1622 I'll look into it. I am already with Chase 😎