The cash back awards are bait. If you are extremely careful you may get the bait and get away clean but if you are not you will become a slave working to fatten the gloated corporate predators.
I was late on one payment by a few days. I expected a late fee and interest payments. What I did not expect was over 27 percent interest. I was not even aware that such an interest rate was legal. They would gladly let me run up thousands of dollars on their card and then charge me such interest rates in perpetuity.
Such a high interest rate is unethical in times when savings are earning interest hovering around 1%.
Fortunately, I keep good track of my expenses and strive to control them and I immediately paid off the card.
I was glad to see Congress enact some laws to protect consumers at least a little from the predatory practices of the financial institutions. More laws are needed.