Do Loyalty Programs Cause Consumers to Spend More?

I belong to a number of reward and loyalty programs. My favorite program? The Capital One Venture Card. Two points for every dollar spent and an additional 40,000 points if you spend $3,000 within the first three months. Once I had my shiny, new card in hand, I switched all my bills over to the card to ensure I put $3,000 on it by the end of the first three months. As I gleefully rejoiced in what equated to $400 in travel points, I wondered whether I end up spending more than I would have....

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