That's right:

> We estimate an aggregate annual redistribution of $15 billion from less to more educated, poorer to richer, and high to low minority areas, widening existing disparities.

https://www.federalreserve.gov/econres/feds/files/2023007pap...

That's almost nothing compared to the rich people spending far more money at shops in the first place, which pays the fixed costs that makes it affordable to even sell to the poor people.

If that's what you think the problem with credit cards is, there's a simple solution to it. Ban usury.

They'll still exist, and they'll still work in nearly the same way they do today, the cashback rate will drop by half a percent, and the credit score cutoff for getting one will go up a couple hundred points. The working poor using them today will just end up using debit cards, instead.

> usury

I think you are conflating processor fees (2.9% + $.30) with bank loans (20+% for carrying a balance).

These are different companies in the system.