I recently signed up for a rewards credit card that caters to the rich just because they waive the annual fee for military. It’s got a pretty good amount of benefits, generally the type of thing rich (or wannabe rich) like to flaunt like airport lounge access, luxury upgrades, etc. It wasn’t really my style, although I figured it was free and who knows, it could be useful. Being able to take a shower in a nice lounge while on a rushed business trip could be useful. Or maybe I’ll just try to use it to impress a girl.
This card had been getting popular with military people, to the point where some folks were afraid too many people were getting in on it and the company might stop waiving the fee. I don’t think so, I think this company knows exactly what they are doing.
All the benefits are geared around travel, and if there is one thing where you spend a lot of discretionary money, it’s when you travel. By pulling you into their web of travel discounts and package deals they are only going to rope you into spending more money. And once you start to feel rich, you also start to spend more to keep it up, you’re now accustomed to the lifestyle.
They also know military have solid paying jobs and can easily be held accountable if they default on debt. So it’s really not that bad of a deal, they get you in their system, and they know that you have to pay up.
~Dmitri
Star and Lotus 