Pre-Approved Credit Card. No Thank You!

I can't remember how many times I have received an offer from a bank via mail. They all inform me that I am pre-approved for their credit card. They are all bundled up with perks that you can use. Some offer points you can redeem for a short haul flight. Others are cash backs and VIP treatments to some establishhments. The only problem is the annual payments that you have to make. It kind of negate the benefit if you are not a big spender. For that reason, I am out! Just what the venture capitalists would say in Dragon's Den if they do not like the business idea being presented.

Canadian Tire Gas Advantage - So Far The Worst Credit Card I Have...

I probably am guilty of not looking before I leapt. When I visited a Canadian Tire store late last year, I was offered by an agent at near the store entrance to apply for a rewards card that could save me 5 cents at all Canadian Tire gas stations. I thought Being a person who likes discounts and savings, I filled out the form and handed it out to the agent. When I was asked questions that were usually asked when you apply for a credit card, I realized that it was not the same as a loyalty or rewards card, but a credit card. I pretended that I did not make a mistake and just went on with the application. After I got the card, I used and true enough, I got less 5 cents per liter of gasoline. However, I found out later that I have to spend at least $500 a month to get the 5 cents and it drops to 2 cents once your gasoline purchase exceeds $700. I will call to cancel this card the moment I have paid the cards remaining balance. I will stick to the Canadian Tire Options Mastercard. I like earning Canadian Tire money that I can use when I purchase something in the store.