From the OP: > Is this a good deal for the American consumer? [...] Certainly the system is bad for Americans who don’t have points-earning cards. They pay hig

From the OP: > Is this a good deal for the American consumer? [...] Certainly the system is bad for Americans who don’t have points-earning cards. They pay higher prices on ordinary goods and services but don’t get the points, effectively subsidizing the perks of card users, who tend to be wealthier already. It's the economics of "scrip". https://www.investopedia.com/terms/s/scrip.asp https://www.investopedia.com/terms/s/scrip.asp