Wednesday, September 12, 2012

The Cash Back Myth.

Recently my credit card company sent a mail stating that I would get a 10% cash back if  I purchased using my credit card for $30 or more at a specific retail outlet . So if I buy any merchandise for $30, I will get $3 back in my pocket. But should I really avail this offer ? Even if I don't have the need to buy at some place, just because i get a 10% cash back should I go and buy there ? A normal perception is to look at the $3 returns instead of the $27 that went away from the pocket.
A case in point for " A penny wise pound foolish".
 


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