I’ve been reading about Critical Discourse Analysis and thought I’d apply it to a recent letter from my bank.
Account Information Enclosed
Sounds important, doesn’t it? Better open it. The letter actually contains checks for cash advances from my credit card. The letter mentions the last 4 digits of my account number, so I suppose it does contain some account information.
Access your funds with ease.
This suggests that the money is already “mine” and is just waiting for me to spend it. The theme of ease is reinforced with phrases like “simply use”, “an easy way”, and “in two easy steps”. Of course, I haven’t borrowed it yet, so it’s not mine, it’s the bank’s.
This may give you the ability and flexibility to do what you want when you want.
Freedom! This is reinforced with “make the most of your account” and “you can benefit”. Of course, going into debt is the exact opposite of freedom.
New 4.99% Promotional APR
This is psychological pricing. Come on, it’s 5 percent!
(Transaction fees apply. See left panel for details.)
Some very small print says there’s a transaction fee of 4%. The promotional APR expires after 6 months, so it’s really 8% annualized. (Actually more than 8%, because the fee comes off the top, while my balance declines with each payment.) Look what they’ve done. They just offered to lend me money at over 13% while making it sound like 4-point-something.
Save More
This is reinforced with “continue to save” by using all three check instead of just one. The bank quotes two rates, the standard rate and the promotional rate, and offers me the lower rate, thereby allowing me to “save”. Of course, at either rate, borrowing is the exact opposite of saving.
Write a check today
Urgency is reinforced with “call today” and an expiration date on the checks.
We can help with your cash needs.
The framing is insidious. “Needs” suggests that I have a problem and need to be “helped”. Of course, they have access to my credit report and if I really did need help, they wouldn’t have sent me the letter.
So: an offer to lend me money at 13%. They deliberately try to mislead me as to how much it costs to borrow the money. (”Borrow” appears only once, in the fine print, and “debt” is never mentioned.) But they’re going to “help” me by making it easy to access “my” money. Save by borrowing! Set yourself free by going into debt! Easy! Write a check today!