Impact of Credit Card Rewards on Americans

SOURCE www.breitbart.com
Summer brings increased spending for Americans, many use credit card rewards to offset costs. Proposed credit card legislation by Senators Durbin and Marshall threatens rewards programs that are essential for low-to-moderate-income households. Airline credit cards are crucial for travel affordability, supporting millions of jobs and economic activity.

Key Points

  • Low-to-moderate-income cardholders heavily utilize rewards, especially cash-back cards
  • Rewards accumulated by LMI families provide genuine savings for working-class households
  • Airline credit cards support travel affordability for millions of Americans and contribute to economic activity

Pros

  • Credit card rewards help offset summer spending for Americans
  • Low-to-moderate-income households heavily rely on rewards programs
  • Rewards programs support travel affordability for millions of Americans
  • Economic activity and job creation are boosted by airline credit card rewards

Cons

  • Proposed credit card legislation may restrict card issuers' ability to fund rewards programs
  • Senators Durbin and Marshall's policy threatens essential rewards programs