Cashback Blues
Several weeks ago, I talked about the lackluster offers from my current bank. Granted, they are rather crypto-friendly compared to other establishments in the financial sector. At the end of the day, there are better options out there even outside of crypto.
Now, even the cashbacks have more restrictions placed upon them. I used to be able to claim whatever amounts when I get around to review the books. Recently, a minimum threshold of $25 is in place for all my cashback rewards. In the grand scheme of things, that's not a big deal. Although, it is somewhat annoying for one of my cards that has less recurring traffic.
At the same time, I have noticed extra promotional cashback rewards on my dashboard.
It's too bad, most of them are places I would never visit. This reminds me of getting useless coupons for products I would never buy on Ibotta as time went on. That's another story altogether.
Of course, even the seemingly most useful cashback is somewhat of a joke. I mean, a $2.50 reward limit? That's $50 of gas. In Utah, the price of gas is around $3.89 per gallon. Yes, I know it's cheaper than a lot of places in the world, but that's not the point. I can buy a little under 13 gallons of fuel. Given how much I drive, this isn't half of what I use each month.
With more and more alternatives like Coinbase Card, Fold, etc. I find myself trying new things. I'm still experimenting with different financial products before I make a permanent move. In a changing regulatory space, it's also challenging for plebs like me to go all-in on a few things.
For example, the 10% interest on HBD is great. But, what are the implications with regulators about stable coins in the future? Where does that asset fall when compared to more centralized products like USDC and USDT? Alas, there are no easy answers and there aren't any. So, at the end of the day, we are all taking risks and responding to the whims of the powers that be.
At the same time, I'd much rather have clearer rules than getting whacked for some gray area. Say what you will about governments and their bureaucrats. As it stands right now, they can end you when they feel like it. You can't the other way around.
Posted Using LeoFinance Beta
Its an unfortunate truth but I have a feeling that they will target the wealthy people first since they have a tendency to chase after the money.
Posted Using LeoFinance Beta
People like @fluffypony definitely have more to worry about than the rest of us.
I do the you gov surveys whenever I get around to sort through my emails. Their rewards aren't that great either so I decided I'd try for the hundred dollars but you had to have a hundred thousand points, I was going to use it to go towards buying vinyl plank flooring for my hallway. It took me like two years to finally accomplish it but by that time shit hit the fan with covid, I wasn't collecting rent on my duplex so things got rough, needless to say the money didn't go towards the flooring. I know what you mean though about those cash back rewards, seems like it takes forever to make the twenty five, one of the cards I finally made it and went to redeem it and it wasn't there anymore. I called them and asked where it went and they said I never earned it, now I don't bother with them when they say click here to start your cash back reward.
Such is the way those things go.
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STOPCheck out the last post from @hivebuzz:
Jeebus, I was upset at paying 3.05 in New Mexico.
It's ~2.80 across most of Oklahoma and north Texas.
That part of the country seems to always have cheaper gas.
We have the gas refineries and pipeline terminals all coming together nearby.
Missouri was always the cheapest for me, they have lower taxes.
That makes a lot of sense.