Originally Posted by
Redhead
A common misperception is that high spenders who pay off in full are profitable customers. This is not always the case, especially since you are getting miles in return. The cost of those miles can wipe out any revenue the CC company is getting from you. Especially like it sounds like you are earning miles over the card mileage cap (because of elite status I assume). The way MC/V issuers make $$ if different than AMEX. AMEX has much higher merchant fees so they can make money off pure transactors. The quick pay is the only benefit to the bank that I see since they don't have to carry your float.
How are you going to transfer the line to a non Chase card? Or are you saying that you will transfer it to a no-fee Chase card?
If they can't make
any money off someone who charges and then pays in full, they aren't running their business right. Merchants pay different rates depending on the type of card it is, with rewards earning cards at the top of that range. I know they make more money when customers carry balances but if they are depending on their customers to carry a balance in order to make a profit, they've got some major problems. On top of this and as mentioned, paying early rather than waiting for the statement to post means they don't have to carry float, so the expense to them is even less.
As far as transferring the credit line, yea, I will bring it over to a no-fee Chase card.