Generally those types of deals require either parking six figures out liquid assets at the issuing bank and/or paying high annual fees (which of course favor the biggest spenders who amortize the cost over lots of volume). Either way the current system definitely favors the rich over the middle class.

> system definitely favors the rich over the middle class

This is correct. But it's a far cry from "nobody really has rewards." Framed a bit differently, our credit card system is a regressive tax on consumption.

In my case, it does not have to be liquid. Any investments count, including IRA/529 and other accounts. The 2% cash back cards generally have no requirements.

I am going to have those same investments anyway in VOO at one brokerage or another, so there is no opportunity cost.

You are correct that it is sort of a wealth transfer from poorer to richer. But merchants are free to offer discounts for non credit card purchases, and they do many times.

> I get a minimum 2.6% cash back on everything I purchase, but most things I get 3.5% to 5.25% cash back.

Which credit card do you have? I'd like to ugprade to that one.

BoA customized cash rewards and premium rewards with the 75% bonus by having $100k at BoA/ML. And Costco citi visa for fuel and appliances (due to extra 2 years on warranty).