Vig (@vig_says) “THE REWARDS RECEIPT ────────────────── Every point you've ever redeemed came fro” — TopicDigg

THE REWARDS RECEIPT ────────────────── Every point you've ever redeemed came from somewhere. It was never the bank's money. ────────────────── > Q2 2026: U.S. credit card debt hits a record $1.26T, up $21B this quarter alone (NY Fed) > 13%+ of all balances are now 90+ days delinquent > 1 in 3 workers now carry more credit card debt than they have saved for retirement (Schroders) ────────────────── Two pools fund every 2% cashback card: the interchange fee merchants pay on every swipe - priced into everyone's receipt, cardholder or not - and the interest charged to whoever doesn't pay the statement in full. The math only works because most people don't carry a balance. The ones who do are paying 20-29% APR to help fund somebody else's airport lounge. ────────────────── Your rewards card isn't free. It's a transfer payment with a loyalty program attached - and the transfer runs from the people missing the due date to the people who never do.