Everyone has heard of credit cards that earn rewards. Now Washington Mutual is introducing a debit card that earns cash rewards with every purchase.But exactly how much do you get back?
*MOUSE PRINT: “Free Gold Debit MasterCard® with Rewards—get a $.03 reward for each debit purchase transaction up to $250 per year** **Applies to purchases made by phone, online, in person or by mail. If your account is open and in good standing on your anniversary date, you’ll receive a $.03 reward for each Debit MasterCard purchase transaction made within the last year up to a $250 reward.” [Washington Mutual website, May 16, 2006]
Thinking it must have been a typo, I read the disclosure to mean that you got back three percent (not three cents) for every purchase using their debit card. How generous! To double-check, I called WaMu’s customer service department. They explained that with every purchase you indeed would get back three cents.
MrConsumer asked: “Now let me get this straight, if I buy a $1000 refrigerator, you are going to give me back three cents?”
Customer service representative: “Yes.”
How generous, and what a great incentive to switch to WaMu. In order to receive the advertised maximum rebate of $250 per year, one would have to make 8333 separate purchases. A snap.
