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> One of the things that happens for a brand-new launched credit card: done right, you lose about 50% of the dollar volume in the first several months What doe
by flerchin 5y ago
> One of the things that happens for a brand-new launched credit card: done right, you lose about 50% of the dollar volume in the first several months
What does this mean? 50% of the money is held as debt? Or 50% of the money is lost to fraud?
- Petabits 5y agoGetting people to initially sign up through bonuses causes a lot of money to be shed, and are thus not profitable until people renew (without the bonus) the second year. I remember seeing the CEO of Chase saying he was excited that they lost billions in the new sapphire card because it meant they had so many members