Comment by tomkarlo

Interchange rates on Visa are >2%, and there's definitely cards that offer 2% cash back on everything, with the exception they generally bar "cash-like" items like cash withdrawals and t-bill purchases, to avoid holders just churning purchases for the rewards. (There used to be a way to make tons of points for buying like $10K of t-bills on your Visa, then immediately reselling them for $10K, because the Treasury wasn't charging the interchange fee.)