Impact of Rising Prices on Credit Card Rewards

SOURCE www.breitbart.com
The article discusses how rising prices are affecting Americans and how credit card rewards help low-to-moderate-income households save money. It criticizes Senators Durbin and Marshall for proposing legislation that could restrict these rewards programs.

Key Points

  • 70% of low-to-moderate-income cardholders use rewards cards
  • LMI households can save up to a third on holiday and back-to-school expenses with cash back rewards
  • Rewards redeemed offer real savings for households, especially LMI families

Pros

  • Credit card rewards help low-to-moderate-income households save money
  • Rewards programs provide financial relief and flexibility for consumers
  • Boost in income from rewards is significant for LMI cardholders

Cons

  • Proposed legislation by Senators Durbin and Marshall could restrict rewards programs
  • Threat to take away reward programs that many families rely on