Earn 75,000 bonus miles! Double cash back! Free flights! Discounts galore! Credit card rewards program incentives promise fantasies. And for those privileged members who can convert plastic faucets into points, and those points into luxury, the process can seem like digital alchemy, or at least a delicious refutation of that adage about free lunch. But as the opinion video above explains, that lunch – or that round-trip ticket purchased with points to the Seychelles – isn’t exactly free. Which begs the question: who pays? Well, we all are. Subscribe: http://bit.ly/U8Ys7n More New York Times videos: http://nytimes.com/video ———- Whether it’s reporting on conflicts abroad and political divisions at home, or covering the latest style trends and scientific developments, New York Times video journalists provide a revealing and unforgettable view of the world. These are all the news worth watching.