As someone who recently went down a rabbit hole into trying to optimize credit card rewards (and opting for cashback in the end), I'm still kind of perplexed how it all works. Like, who's paying for the flights? Consumers, merchants, airlines, banks?
Is there a good primer on how all the pieces work and what the various incentives are and such? I found patio11's post[0] and this Fed investigation[1], and both were interesting but left me wanting more.
Is there a good primer on how all the pieces work and what the various incentives are and such? I found patio11's post[0] and this Fed investigation[1], and both were interesting but left me wanting more.
[0] https://www.bitsaboutmoney.com/archive/how-credit-cards-make... [1] https://www.federalreserve.gov/econres/notes/feds-notes/cred...