In actual fact, I don't believe that anyone will rent a suite at a hotel and pay $300 more a night in order to get bonus points. Everyone stays within a budget. People won't buy more in order to get points. In addition, consumers don't know that it's the merchant who's paying for the gifts they're given. They think it's the company that's giving them gifts. When we ask our friends whether they know that it's the merchant who pays when they use a particular credit card, no one knows that. That's also part of this transparency.
On May 12th, 2009. See this statement in context.