If you are someone who uses credit card points to travel on the cheap, or cash-back rewards to lower your monthly bills, you may want to pay attention to a current debate in Congress. Advocates of credit card rewards say many perks could go away if ...

Bill Ackman criticized credit card rewards programs, saying low-income consumers end up subsidizing benefits for wealthy cardholders.

Credit card rewards are paid for by issuers, which pass the bill along to consumers who are charged fees and interest for using their cards. The merchant middlemen also indirectly pay for credit card rewards by paying interchange fees, typically 1.5 to 3.5 ...