I think that's right. They offer me a combination of goodies and interest rates that I'm expected to pay more than I receive.

Undisciplined

I pay 95 bucks a year for my Marriott Bonvoy Amex (which has been discontinued, new users can get Chase Visa)

I have been a member since 2011.  previously Starwood Amex then Marriott purchased Starwood

I get one free night per year which makes up for the annual fee

I have to admit I received better treatment than I expected from a residence inn after paying for my stay with points 


Bell_curve

econ

There Are Two Kinds of Credit Cards

k00b

Fair. It's a pretty cartoonish description. I have both rich and poor friends that carry credit card balances. Maybe the real difference is rationality wrt money.