Washington Post: “Credit card companies have become increasingly sophisticated — and specific — about soliciting new customers. They have also learned to be savvy about wringing profits from their cardholders, even if that means taking advantage of people’s behavioral weaknesses.”
“The game happens before our very eyes. Recently, MIT economists Hong Ru and Antoinette Schoar analyzed over a million credit card mailings collected by Mintel, a company that pays people to read their junk mail. The economists scanned the terms of these offers, and noted the income and education levels of recipients.”
“Richer people were more likely to get cash-back, point-reward, or mileage offers. Poor people were more likely to get offers that advertise a low introductory APR.”

“Mileage cards tended to be marketed at college graduates, while cards with teaser APR rates were sent to the less educated. Cash-back and point-reward cards were offered to equally to people at every education level.”
Even though frequent-flyer credit cards are “targeted at a rarefied clientele, mileage cards tended to have much higher interest rates … They also had lower late fees and other gotcha features. The kinds of cards aimed at rich, educated people did not seem interested in making money off financial mistakes like the occasional late payment.”
“In contrast, the card offers sent to poorer, less educated people were often loaded with risky features: Low introductory APRs, high late fees, and penalty interest rates that kick in if you break the rules.”