The Jesse Mecham Show Gaming the Credit Card System... Maybe
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Mar 25, 2024 Exploring leveraging credit card float for financial gain and the influence of credit card rewards on spending behavior. Financial institutions have incentives to encourage spending, and using credit cards may lead to impulse spending. Jesse shares his experience with ditching credit cards and how it has made him less likely to impulse spend.
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The Credit Card Game
- Credit card companies profit from increased spending, incentivizing them to encourage more spending.
- Rewards programs subtly encourage spending, making us believe we are gaming the system while they game us.
No Credit Card Experiment
- Jesse experimented with not using credit cards in 2023 and 2024.
- He found this made him less impulsive with spending.
Credit Card Awareness
- Be mindful of credit card rewards programs and their influence on spending habits.
- Consider the potential benefits of reducing reliance on credit cards.