Credit card issuers are wealthy for one reason: they exploit our worst impulses.
Delaying gratification is hard. Whether you blame evolution or a sinister advertising industry, we are addicted to things that promise goodies now while bumping the cost into the future.
And then there is the language that issuers use. By using the word “reward” they con us into thinking that we are making money. Other things that trip us up? People tend to focus on monthly, not overall, costs. And most of…
