I think charging 18% interest on credit card debt (and jacking up fees and rates when legislation is put into effect to regulate credit cards) when the Fed charges approximately 0% is unethical. Whatever miles or points I have gained in exchange for obtaining and using a credit card or purchasing a product is totally cool with me. And noting is "for free". The companies award miles or point to generate business, and wouldn't do it if it it were not, overall, successful and profitable for them. No ethical angst whatsoever.