Credit card rewards boost spending: Chicago Fed
A Chicago Federal Reserve paper published on Friday examines the impact of cash-back rewards from credit cards on spending and debt accumulation in the United States.
Sumit Agarwal, Sujit Chakravorti, and Anna Lunn, the paper's authors, use statements from a large US financial institution to explore the impact of cash-back rewards on credit card spending, debt accumulation, and overall credit bureau balances.
Agarwal, Chakravorti and Lunn find evidence that cash-back rewards positively and
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