You are viewing a single comment's thread from:
RE: Why Cryptocurrency is important to me
lol. it is a nice view from the ivory tower. I have had platinum cards; and they don't come for free. Often 300$ US annual fee. You only get them for free if you have other loans which they are making sufficient money off you.
Exactly. And the idea of Platinum card user only works for people who are relatively rich to the rest of the population.
By the way I didn't know it'll cost so much in hidden charges.. $300 is 2 months of my rent.
Yes they charge a lot and then they give you rewards back (perhaps 2-3% of what you spend). So if you spend 10-20K on the credit card you get your fee back; and then the more you spend after that the more cash back or rewards points you get . But you have to spend a lot and it encourages spending rather than saving as people think they will get more rewards if they spend more.