The 2% Illusion and Other 'Gifts' Advertisers Think Seniors Will Fall For
This information is also available on my YouTube Channel at: https://youtu.be/F2snB4_-y48 If you prefer, you can also listen to this information on my Podcast at: https://creators.spotify.com/pod/show/norbert-gostischa/episodes/80-and-Counting---The-Adventure-You-Didnt-Know-You-Signed-Up-For-e33of14 Have you noticed that some commercials seem to assume we left our common sense somewhere near the rotary phone? Take Wells Fargo’s flashy pitch: “Earn 2% cash back on everything!” One guy in the ad practically throws a party because he’s getting 2% back on dinner. Really? I didn’t need a calculator to know that’s still 98% out of pocket. Let’s break this down - If you spend $100, you get $2 back. That’s not a reward — that’s a consolation prize. It’s like someone patting you on the back after you overpaid for a cup of coffee and saying, “Don’t worry, here’s a sugar packet for your trouble.” And Wells Fargo isn’t alone in trying to pull...