Stop using your credit card. Stop #smallenfreuden.
Such an obvious debt defying act. So obvious in fact, I hadn’t even mentioned it because it goes without saying. But, Visa’s smallenfreuden campaign makes me want to scream this off of the rooftops. To use your VISA to make small purchases is a terrible idea for you as a consumer. To use your VISA to make small purchases is a terrible idea for small businesses. To use your VISA to make small purchases is only a good idea for VISA.
Judging by their marketing campaign – heavy emphasis on social media and hockey tie ins – I’m guessing their target market is young men – late twenties to mid forties, young, sports fan – who have disposal income but aren’t the household budget managers. The household budget managers (ie, wives and girlfriends for the most part) have put the breaks on big household expenses to get on top of the personal debt crisis (reported last week as $27,000 non-mortgage debt per person on average). So they figure a couple of beers, a few things at Canadian Tire, might as well just go on the credit card – “everybody’s doing it” – so VISA says.
Don’t do it. Credit companies have powerful lobbies in Ottawa. The competition bureau has yet to rule on a pending decision on merchant fees according to Dan Kelly of the Canadian Federation of Independent Business. The CFIB is leading the campaign to stop VISA on its smallenfreuden campaign. Read more here.