Lately I've been getting checks in the mail for a small amount of money from my banks and my phone company. They usually talk about what a great customer I am and how much they value my loyalty, and gosh here's a reward for being such a great guy.
If I were to deposit this check, AT&T will change my long distance service to them. Neat Huh? Here's the fine print below:
1/16/2001: Update! AT&T has upped the ante to $40
Here is another one that I got from a "Credit Card Protection Agency". Ha! I say.
If I cashed this one, I'd be subscribed to receive quarterly credit reports on myself to watch out for bad entries. But when we read the fine print below, we see that this service is quite expensive; well more than the $3.25 the check is worth.
This service costs $73.08, and while it only hits you for 87 cents a month, you're stuck with it for 84 months. Even cancelling your card won't stop these guys. Plus if you don't use your card, you have to send in a check for 87 cents every month. I like how they ask for my credit card number on the back!
My final example came from my credit card company because I'm such a valued customer. Here it is:
The buyers advantage program costs $80 to join every 3 months. Plus these guys already have my card number so I don't have to give it to them.
Always read all of the find print on these "rewards" before cashing them in. Chances are, it's no reward at all.