You Can't Actually Profit by Using Credit Cards. Here's Why
Summary
The article debunks the notion that using credit cards can lead to profits. It explains that despite tempting rewards and cashback offers, consumers cannot actually make money from credit card usage. The piece emphasizes that credit card companies are designed to make a profit, primarily through interest charges and fees. While rewards can provide some value, they are offset by annual fees, interest on outstanding balances, and potential overspending. The article urges readers to use credit cards responsibly, focusing on paying off balances to avoid interest and fees, rather than expecting to turn a profit from their credit card activities.
The Ascent
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