XP: who is hurt by all those credit card perks?

[konapoppy]

Thought folks over here might find this interesting. Nothing is ever really free. When I worked in banking, the term “fee based income” made me cringe - I knew who was paying it.

The interchange fees going up hurts everyone, as it increases prices, which disproportionately hurts the poor. I think there is more to this than the article covers, but I am glad it is being discussed.

www.nytimes.com/2023/03/04/opinion/credit-card-rewards-points-poor-interchange-fees.html?unlocked_article_code=A0h7SaACXzjOVuldUgLPjcnY1m8Aef1hKAqJVbYk26LT6joMCjLs-iy7EAIlKHjseSEJtxXgUx4jv3poYytZNVvwq8bktbbqdVsh95k8FjIYQRdPZBWY5432O58PfXaIhknKgjC0lSJrZRuGV6nXI8GBCm-nT98CZIfmYvcarC0InyqFwwRTEgPeuuNTB4VS0kXtxdUngTSJIRTkB7BXnzhNjRRL3lZEiCDNhdX6B9vHlRpkrKv03SMigUe9eQjRY1zZvTl7rAKGdsJWXnN5NMNa4u0Pvs7YZ1OSbNUgr4PtQoAg5W6wehbXiEiMRXlTkm9Qb7d0Pr4mezpXbiuwNEDn8iIRZrCz0Ko_B9pZc8O_8fddhBihi6Im&smid=nytcore-ios-share&referringSource=articleShare