Your Credit Card Points Are a Transfer From the Broke to the Comfortable
- They’re funded by interest paid at an average 25.2% APR, mostly by the roughly half of cardholders who carry a balance, plus over $30 billion a year in fees, plus swipe fees baked into the price of nearly everything you buy.
- In 2023, Federal Reserve researchers published a paper on just this topic.
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- They’re funded by interest paid at an average 25.2% APR, mostly by the roughly half of cardholders who carry a balance, plus over $30 billion a year in fees, plus swipe fees baked into the price of nearly everything you buy.
- In 2023, Federal Reserve researchers published a paper on just this topic.
Sources: Substack