The constant barrage of financial product promotion

“Make sure you have the extra cash you need to celebrate the holiday and to get your fall projects done.”

“Complete a balance transfer or deposit online, it’s easy.”

“An opportunity like this doesn’t come along every day.”

These are just some of the phrases I read in a recent “Act Now” financial product promotional offer I got in the mail by a credit card company.

I have no problem with this company or its promotional material but consumers must be mindful these financial companies are in business for one reason – to make money off you and me as much as they can.  Keeping a running balance on your credit is a guaranteed way to waste your money.  Using calculators you can find out the enormous interest charges associated with long-term credit card debt.

I’m not against credit cards, far from it, just be mindful within the financial industry for every buyer of money there is someone willing to loan it out to you for a pricy fee.

Filed in: Credit Cards, Marketing, Saving

5 Responses to "The constant barrage of financial product promotion"

  1. I always shake my head when I hear ads for financial services – especially pay day loan companies. They come out with the craziest ads, justifying using their services. It’s sad because so many people fall for it.

  2. We live in a world of buyer beware. There are promotions of all kinds. We keep getting “opportunities” to spend our money, whether on financial products, pizza or real estate.

    As Daisy points out, buyers don’t always understand the implications of their decisions … or seek out objective advice.

  3. I like “you’re richer than you think” which really means “you can borrow more than you think.”

  4. There is a lot of noise in the world of financial services. The smart consumer has to learn to ignore it.

  1. […] My Own Advisor points out the blatant promotions by financial companies […]

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