Got a credit card upgrade offer? Think before you leap

Duran Mueller
Jun 5, 2007
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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 card truth.

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 decide.

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.