Chasing Credit Card Rewards Can Backfire as Interest Rates Eclipse Returns

Chasing credit card rewards while carrying debt is unwise, as interest rates are much higher than typical rewards rates
Average credit card APRs have soared to record highs over 22%, while rewards average 1-5% cashback or miles
Airline miles have diminished in value and are best used quickly before further devaluation
For those with unavoidable credit card debt, choose cards with rewards matching lifestyle (i.e. groceries)
By generation, Gen Z chases rewards the most at 77%, Boomers the least at 69%