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And, you would be correct, in a sense. Wealthier consumers benefit disproportionately from CC rewards compared to less wealthy consumers:

Paper from 2010 showing this: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1652260

News article with a good summary: https://www.reuters.com/article/us-usa-fed-wealthtransfer/cr...






+1 for actually supplying sources!

tldr: >> ...the lowest-income household ($20,000 or less annually) pays $21 and the highest-income household ($150,000 or more annually) receives $750 every year.




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