DevHacker Newsabout 2 hours ago
Credit Card Rewards Became a $9.2B Wealth Transfer
1 min read
Credit card rewards transfer $9.2 billion annually from lower-income households to those earning over $150,000, per Harvard Business School research. Cash users face a 26% higher effective sales tax than premium card users. Interchange fees shift $30 billion total from cash and debit users to credit card users.
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