This is not true at all. United made less than $2B TOTAL in credit card revenue in 2024, yet the net profit was over $4B. Also that $2B wasn't just free cash. It all had a cost associated with it because United actually had to fly people around to be paid that money that was redeemed from earned miles.

This whole myth is ridiculous. Its not much different than chemtrails or the aircraft fuel conspiracies on the internet.