Rewards drive up transaction fees. https://insight.kellogg.northwestern.edu/article/who-pays-generous-credit-card-rewards https://insight.kellogg.northwestern.e

Rewards drive up transaction fees. https://insight.kellogg.northwestern.edu/article/who-pays-generous-credit-card-rewards https://insight.kellogg.northwestern.edu/article/who-pays-ge... "merchants are fee-insensitive, while consumers are rewards-sensitive. In other words, consumers pick credit cards (and, indirectly, networks) based on the goodies they receive, and stores will grudgingly tolerate high fees in order to accept credit cards."