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Credit card super-users take a $330M bite out of JP Morgan’s revenue
- tdurden 8y ago> These consumers, he said, only use the cards in categories that pay the richest points. For instance, they would whip out a Sapphire card for dining and travel but switch to Chase’s Freedom card to pay for purchases in the rotating category that’s rewarded most, such as gas stations and drug stores. This just seems like common sense to me and I would doubt it is a rare activity.
- coolspot 8y agoChase cards with very generous bonuses were advertised very agressively on sites like slickdeals, fatwallet, kk and others by JP Morgan itself. No surprise it attracted power CC users. My take on that is they wanted to show CC business growth on paper even by actually giving away money. Similar thing was happening after Wells Fargo scandal. WF pushed it’s WF Cash Wise credit card with $200 sign up bonus.
- GW150914 8y agoCalling sensible people who don’t live in a state of perpetual credit card debt “super-users” and blaming them for not falling for their scams is some high-grade FUD.