The programs don’t take money from the merchants - they raise their prices to cover the fees. The reality is that they exist largely because the people earning

The programs don’t take money from the merchants - they raise their prices to cover the fees. The reality is that they exist largely because the people earning the points aren’t paying the bills. Most CC Rewards programs target the professional class of travelers - people who travel for work where the employer pays the bill. It’s essentially taking from consulting companies’ clients to give to the employees.