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Your Rewards Card Is Actually Bad for You, and for Everyone Else

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Your Rewards Card Is Actually Bad for You, and for Everyone Else

Nov. 21, 2023, 5:02 a.m. ET
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Video by James Robinson and Emily Holzknecht

Mr. Robinson is a filmmaker. Ms. Holzknecht is an associate producer for Opinion Video.

Earn 75,000 bonus miles! Double cash back! Free flights! Discounts galore!

The enticements for credit card rewards programs promise fantasies. And for the privileged members who can convert taps of plastic into points, and those points into luxury, the process can feel like digital alchemy, or at least a delightful refutation of that adage about a free lunch.

But as the Opinion Video above explains, that lunch — or that points-purchased round-trip ticket to the Seychelles — isn’t really free.

Which raises the question: Who’s paying for it?

Well, we all are.

James Robinson (@ByJamesRobinson) is a filmmaker. Emily Holzknecht (@emilyholzknecht) is an associate producer for Opinion Video.

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