Anatomy of a credit card rewards program (www.bitsaboutmoney.com)
from tedu@inks.tedunangst.com to inks@inks.tedunangst.com on 04 Apr 2024 23:34
https://inks.tedunangst.com/l/5098

Different regions have ended up with different equilibria in the rewards game. In the United States, card acceptance is expensive and the rewards economy is robust. In Japan, card acceptance is expensive and the rewards economy is fairly muted due to—ahem—effective collusion by issuers. In Europe, card acceptance is cheap by regulatory fiat and so rewards are far less common (or commonly lucrative) than in the U.S.

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