I hate it when people ask if I have any hobbies. I know they are well-intentioned, just trying to get to know me, but how can I explain my hobby is … collecting credit card points?
I am embarrassed to admit how many hours I spend reading blogs, watching videos and mentally plotting out my non-linear objective function. I don’t have the words to describe how much sweeter the Prosecco is in business class when it comes from a hard-won upgrade. It would be so much easier if I just played pickleball.
Still, my embarrassment had never been so bad that I would reconsider my priorities. Until now: The story of Bilt, as told in a Bloomberg Businessweek story earlier this month, may be what breaks me. Bilt, which became known for offering a credit card that enables users to earn rewards on their rent or mortgage, shows what can happen when people feel compelled to get points on every transaction.
Continue reading the entire piece here at Bloomberg Opinion (paywall)
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Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
Photo by Scott Olson/Getty Images