Banks Don’t Want Your Credit Card Business Unless It’s for the Long-Term

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  1. BoardingArea

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    Banks have in many ways tightened their criteria for issuing premium rewards credit cards over the past year, especially for folks who have had the same product in the past or who have a pattern of switching around their wallets frequently. It's not just about avoiding giving customers the same bonus multiple times -- it's also about realizing they need cardmembers to stick with them and keep a card top of wallet in order for the customer to become profitable. Bonuses are expensive, they recoup the cost over time when a cardmember behaves with typical spend into the future -- but not if the consumer is someone who tends to switch products. Continue reading Banks Don’t Want Your Credit Card Business Unless It’s for the Long-Term...

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