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I comes down to a question of do you want to pull more responses ie get more leads or get fewer leads but a higher conversion ratio. If you can pivot well and overcome the thought this was a government benefit well then your probably better off with misleading card.
Now I don't sell FE and I don't do mailers like this but it can become a classic case of who is paying for what. Say you are under a system where you pay a set per lead anyone want to take a guess which card is more likely to be mailed.
I think they're laying it on a bit thick, but the infamous $255 social security death benefit card is a classic that generally does alright.
There are some things I'd change about the piece, but I think it does a lot of things right.