Monday, December 31, 2007

The bidding starts now.

When I see different discount/cashback offers by different credit cards I would imagine a scene where about 7 credit issuing companies and financial institutions sit with an eager anticipation for auction gong to go. Finally, after a few tense minutes, the bell is rung and the organizer of the auctions announces, “The bidding starts now”. biggrin

The bidding was intended for offer of cash back to consumers by these credit card issuing authorities when they pay for gas using their credit cards. Gas Credit Cards are great money savers and I view the whole idea as an innovative marketing concept initiated by the credit card issuers. Since, gas is near equivalent to food, there is always a stiff competition among credit card issuing banks to garner as many people as possible to buy their cards.

I would not jump at a similar offer that is offered over telephone by telemarketers. I would use to compare the offers by various credit card companies and then choose the best among them. features offers from leading U.S Credit Card issuers such as J.P. Morgan Chase, Bank of America, Citibank and leading brands Visa, MasterCard, American Express and Discover Card.

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