Cash users subsidize $30 billion in credit card rewards

Jun 1, 2026, 11:00 AM10

(Update: Jun 1, 2026, 11:00 AM)

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Cash users subsidize $30 billion in credit card rewards

A Harvard study estimates that cash and debit card users subsidize $30 billion annually for credit card rewards.
Merchants face rising credit card fees, which have increased by 70% since 2019, leading to higher prices for consumers.
This situation disproportionately affects lower- and middle-income Americans who primarily use cash.

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private university in Cambridge, Massachusetts

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