What is in the Cards for Credit Card Rewards?

Main Article Content

Jason Kim
https://orcid.org/0000-0002-1321-7781

Abstract

Credit card use has seen a significant boom in use driven by consumer willingness to take on debt and the expansion of generous rewards. This paper reviews a persistent allegation that credit card rewards produce a “regressive cross-subsidy,” making transactions cheaper for the wealthy and more expensive for the poor. I explain that evidence of this cross-subsidy is rare and ultimately inconclusive. This paper advocates for a policy of legislative non-intervention as stricter regulations would harm the credit card market and result in anti-consumer banking policies. Last, this paper emphasizes the importance of financial literacy in lieu of governmental regulations.

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How to Cite
Kim, J. (2022). What is in the Cards for Credit Card Rewards?. Iuris Tantum, 36(36), 64–104. https://doi.org/10.36105/iut.2022n36.04
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