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Chase Ink Card: Get 3% Back?

There are many credit cards out there offering a 1% rebate on purchases. And there are just a couple that pay you back 2% on everything. Now, imagine getting a business credit card that rebates 3% on all your purchases, with no cash back limit! Wow.

Keep imagining. At the bottom of Chase’s full screen ad (which you see after clicking “learn more”) is a not particularly conspicuous link labeled “*Ink Offer Details”. Funny, there was no asterisk in their headline qualifying their 3% claim.

*MOUSE PRINT:

So, the real deal is that you only get 3% back in selected categories (gas, hardware, home improvement, dining, and office supply stores). Otherwise, this is really just a 1% card. And they seem to exclude superstores, discount stores, and warehouse clubs. Hmm, isn’t Home Depot a superstore or discount home improvement store?

And as to the claim that you get “unlimited cash back”, in fact they will limit your extra cash back in the 3% categories to just an extra $40 a month.

So what appeared to be a credit card offering a flat 3% back with no cash back limits, is nothing of the sort.

Mouse Print* pointed out to Chase the potentially misleading nature of their advertisement and asked, “Will Chase revise its advertisements to more accurately say “up to 3% cash back” and qualify its “unlimited cash back” claim?”

Chase replied:

“We are committed to being straightforward in all of our advertising and customer communications. The small banner ad that you are referring to for Ink Cash is referring to the 3% cash back in specific categories and [sic] the then the unlimited cash back for the 1% on everything else.

Our team is reviewing the copy now and although limited by the small space on the banner ad itself, wants to ensure that all applicants fully understand the true value of the card and rewards.” –Chase spokesperson

Trying to cut through the “spin”, Mouse Print* replied to Chase: “There is PLENTY of room to add ‘up to’ in that ad! The question is ‘will you’?”

The company wrote back:

“Up to” is not accurate, though. Customers earn the full 3% on their spending in the select categories, so it’s not an “up-to” and then they earn a full 1% on everything else from the first dollar they spend. We will do our best to make sure that it is more clear.

I could have replied that “up to 3%” is absolutely accurate for the ad they published because there is no mention whatsoever in it about that rate only applying to certain categories. I resisted, and will just leave it to the reader to imagine whether Chase is really inclined to fix their ad.

One other word about the email exchange with Chase. Attached to one of the emails from Chase, clearly by mistake, was a document listing the times over the past several years that I was quoted in major media. It listed the full text of these articles including ones from local television, Chicago Tribune, Fox Business, Associated Press, Washington Post, New York Daily News, etc. Nice to know that Chase PR folks do a little investigation into the reporters or editors who pose questions to them before they respond.

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Don’t Pee on My Leg and Tell Me It’s Raining

Judge Judy certainly has a way with words, and these retailers certainly try to use them to make a lousy deal or non-deal seem beneficial to consumers.

Example #1:

Best Buy recently unveiled a buyback program whereby purchasers of certain electronic equipment can buy a policy that guarantees a certain trade-in value for their new purchase.

*MOUSE PRINT:

Their ad only promotes the best case scenario — up to 50% back. When could you get 50% back?  Only  if you want to get rid of your purchase within six months of purchase. More likely, you may wish to trade your item after a couple of years of ownership. In that case, you will get zero back for your phone or computer, and only “up to 10%” for your TV. In our opinion, most consumers would be crazy to PAY a company to offer you a lousy buyback price or no buy back at all during such a short period of time. Selling the item yourself on eBay or through Craigslist would more likely yield a greater return on your purchase.

Example #2:

Earlier this year, Office Depot promoted TurboTax Deluxe with a free state tax download.

*MOUSE PRINT:

What Office Depot didn’t tell you right there was that they added $10 to the price of TurboTax Federal in order to offer the “free” state download:

Bottomline: they are giving you NOTHING extra for free, they are charging you $10 extra for that supposed free benefit.

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For Once, Good News in Airline Fine Print

It doesn’t happen often, but new fine print in the Delta Airlines frequent flier program, Skymiles, has good news for passengers.

*MOUSE PRINT:

Miles Expiration: Effective January 1, 2011, we eliminated our mileage expiration policy so you can earn and redeem miles without worrying if and when your miles will expire.

Previously, if you didn’t deposit or withdraw miles in your account at least once every 24 months, your miles would expire.

*MOUSE PRINT:

Award Redemption Fees: We no longer charge a fee for Award Ticket redemptions, even last-minute bookings.

Previously, there was no charge for redemptions only if made more than 21 days before departure. From 8-20 days, the fee was $75 USD; from 4-7 days, $100; three days or less, $150.

Hats off to Delta for doing something positive for consumers in their fine print. Now let’s see if the other airlines follow suit.

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