All Those Credit Card Rewards.

It’s naive of me to think there are no benefits to using a credit card.

There are.

I hear story after story of people paying for vacations and airplane tickets and concerts using their reward points. I understand the convenience of swiping a card and then just paying one bill every month. There’s even a program out there where you could meet Justin Timberlake because you swipe a credit card.

And the argument for their use is always the same.

“I pay it off every month.”

“I don’t pay any interest.”

“I took my vacation to Europe this Summer using all reward points.”

“I got VIP tickets to a concert.”

And the list could go on and on about all the awesome reward benefits of credit cards.

Congratulations! You’ve found a way to use the system to your benefit and you’re cashing in huge. You’re responsible. You pay off the card every month and never pay a dime of interest.

But this seems like a flawed business model for the credit card company. Pay out all these awesome benefits, for free, and not make any money…

Who’s paying for all those reward points?

The simple answer…. Slaves.

The rich rule over the poor, and the borrower is SLAVE to the lender. - Proverbs 22:7

For every 1 person that’s getting the benefits of those reward points, 9 are in slavery to the credit card company to pay for it.

Now this isn’t an excuse for those that use credit cards irresponsibly.

It is their own fault.

No one ever intentionally gets into credit card debt. It’s a slippery slope. And in the vast majority of cases it’s because of irresponsibility. Even though they voluntarily signed up for the ride, it’s still slavery.

They signed up hoping to gallivant around the world using those same airline miles the “rich and famous” enjoy. Yet now they pay 10%, 18%, 29% interest and are slaves.

Is it possible to use credit cards responsibly? Absolutely! I’ve written about that before.

Can there be benefits to using credit cards? Absolutely!

But who pays for the trips to Europe, and the hotels, and the plane tickets, and the concerts, and the . . . ?



  1. Don’t forget that businesses have transaction fees to support the use of credit cards. So, even if 100% of people paid them all off, the businesses that accept cards are paying a few percent in fees (which they pass on to, yes, the one who swiped). So… those people who are paying interest? Are paying for reduced fees for all, presumably, in turn lowering the cost of goods sold.

    And I thank those people for my vacations.

    • Businesses pay processing fees to a merchant services company for providing access to use credit cards. Not to credit card companies directly.

  2. Insightful.

  3. Truth.

  4. I think this is your best response yet.

  5. Credit cards should come with warning labels: “Inappropriate use of this device could cause serious injury or death.” Think I’m exaggerating? Watch the movie Maxed Out.

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