So, you just got a pre approved credit card upgrade offer in your email for
that exclusive platinum credit card, and you just can't stop talking about it.
Pre approved credit card upgrade offers generally come to those who have consistent
good credit history and have maintained a good relationship with an existing
credit card provider. Credit history being one thing, there is another face
to this particular issue. Credit card companies want to promote their products
especially the top end products to customers who they find worthy. This gives
a sense of pride to the customer and vital business to the credit card company.
So, the situation is a win-win one.
Now, here comes the tricky part. The credit card company wants you to sign
on the dotted line, flaunt your plastic and go on a shopping spree. But are
you wise enough to see the details? Before you jump and grab the offer here
are few points that should concern you if you are financially wise.
The annual fees
Upgrade offer come with lucrative rewards showered on you, as if you are the
most important person for the credit card company. These could be fabulous travel
points, free gas, merchandise discounts etc. etc. The offers are good but at
what cost? Checkout the annual fee of the upgrade offer and don't be surprised
to find fees in tunes of 100's of dollars to be shelled out to the credit card
company on an annual basis. Yes, bitter facts are sugar coated.
The true cost of reward points
Ok, you got an offer of 25,000 bonus points, but what is it good for? When
can you redeem it? What are the limitations to the reward points and more important
how much will you have to spend from your pocket to get that reward in real
terms. These questions might lead you to the dark area of fine prints, with
surprise terms that could open your eyes to the stark reality of bitter credit
The minimum spending limits
This one is the real thing that is the biggest money earner for credit card
companies. Those exclusive offers have a price tag. The upgrade offer wants
you to spend at least a small fortune to get into that exclusive club. Are you
ready for it? Or, will the burden of exclusivity kill you? It is for you to
The upgrade offer for a exclusive credit card isn't all that rosy. Garbed in
cool temptations and exclusive content are terms that earn money for credit
card companies. So, if money isn't much of a worry for you and getting into
that exclusive club of credit card owners matters more, by all means go ahead
for it. But, if things are still on the edge it is definitely better to give
it a second thought.