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That's high, but not crazy. Banks spend serious amounts on customer acquisition for credit products. For a normal card holder, spending $200 in acquisition cost
by t0mas88 4y ago
That's high, but not crazy. Banks spend serious amounts on customer acquisition for credit products. For a normal card holder, spending $200 in acquisition costs (marketing, referral fees, free "points" etc all added together) is not a strange number in the industry.
- lotsofpulp 4y agoIn ~2016/2017, Chase paid people $1,500 to sign up for their Chase Sapphire Reserve credit card. I do not believe any bank has offered anywhere near as high of a sign up bonus since.