Credit Card Offer

Recently I received an offer for a Capital One credit card.  I was pre-approved for “X” amount of dollars.  Next to the “X” amount of dollar sign there was an asterisk *. I decided to get my magnifying glass out and read what the asterisk had to say before continuing.  Now this is what the asterisk means, the fine print if you will. 

First of all there is no guarantee that they will allow me that much money even if I am approved.

Secondly, they will charge me $36 dollars a year or $3 dollars a month to have the privilege of carrying their card in my wallet.  Even if I don’t use the card I would have to spend at least $36 dollars a year just to have their card or the equivalent of one tank of gas for our pickup truck with the current gas prices as they are as of November 2010.

Next they will charge me an interest fee of 22.9% or we might as well say .23 cent on the dollar. That’s almost ¼ the value of a dollar just to use their card.  A card I didn’t ask for to start with. 

And of course I won’t even go into the late fees, over-the-limit fees, and any other fees they may decide to tack on later after I receive their card. It only gets worse from here.

I began to wonder just how much money I can save by not getting their credit card.  Now I fully understand what has happened to America.  People are spending money they don’t have.  It has become routine to get a credit card and whip it out whenever we are out eating or shopping.  There is an ounce of pride to be seen with a wallet full of credit cards, or so a lot of people believe.

I also fully understand what Solomon meant when he said in Proverbs 16:18. Pride goeth before destruction and a haughty spirit before a fall.

Next time I see those Capital One credit card commercials on television when they ask the question, “What’s in your wallet?” I can proudly say, “My money.”

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