I’ve blogged about it many times before so I will try to minimize redundancy. I use my credit card for every purchase I make . I do this for two reasons 1) It consolidates all my payments in to one big payment 2) I earn reward miles for every dollar I spend. Not too long ago I wrote about the perks of credit card incentives . Well a month later, I’m wondering if I am going to hell for taking advantage of these perks.
I’ve heard it argued that it is unethical to take advantage of CC perks. Why? Because the only reason the banks can offer these sweet deals is because they are charging the bajeezez out of those that are only making minimum payments. As one that takes advantage of my airline offers I feel obligated to lay my case for why using incentives is okay.
1) I have no internal debate as to wether or not I am hurting someone else by using these incentives. When I was in high school I cheated on a few tests (shhhh don’t tell anyone). When I was cheating I had that internal conflict that went something like “Ninja, you know this is wrong…Why are you doing this?” Obviously I told the voice of reason to shut it and I cheated anyways. In that situation I felt that what I was doing was wrong, but ignored those feelings. I have never felt like I was doing something wrong by cashing in my airline miles.
2) There are two types of credit card owners out there. Those that pay their bills in full each month, and those that don’t. We are both doing the same thing though, we borrow money with an intention to pay it back. Why should I feel bad about being rewarded for being a responsible borrower? The answer: I shouldn’t. As long as I follow through on my end of the deal, Why can’t I be rewarded?
3) At the end of the day, let’s be honest…it’s the credit card companies that are going to hell. They make a ton of money from sketchy lending, jacking up interest rates, and charging people five buttloads of money in late fees. Think about it like this. I’m actually screwing the banks by paying my balance in full each month. All I do is cost them money (via my redeemed rewards). They get no interest charges or late fees from me. Either way the banks are getting a crapload of money, so this is just one way it’s coming back to the people.
So peeps what’s your call on this two-sided debate? Am I going to hell? I see arguments from both sides, but as of this moment don’t feel compelled to change my ways.