No, they've been fooled. Credit card companies have spent a lot of money on research and are smarter as a result. Most people spend more on average when using them. That far exceeds the ridiculous points. And the merchant does pay the fee, but they bake it into the sale total. So the consumer still ultimately pays it. Credit card companies aren't just giving away free money. They use research and statistics to convince people like you that they're a net gain when the reality is that they aren't. The whole points system plays on a reward mechanism to make you use them more. And they are a privacy nightmare. I'm sure they monetize that data somehow too.

I never said charge backs weren't incredible for some consumers, but they also lead to higher prices for the rest of us. Companies don't just eat the cost. Besides, my actual point was that final settlement isn't fast. That doesn't sound like final settlement to me.