I was thinking about all the crazy promos that citibank has going... Starting with the "awesome" TY fixed point redemptions, continuing on the repeated bonus availability on the same card and currently churning on the AA cards. It makes me wonder what Citibank is up to? I mean, this would seem to be completely unsustainable. FT (and savvy non-FT) community is taking them to the cleaners. It is hard for me to come up with a reason as to why Citi thinks this is in their interest. And I am solely talking about the repeated bonus availability. This is not attracting new customers as by defination, churners are repeat customers. And your average Joe/Jane will get these cards for one time bonus, no need to give them out again and again. Can anyone think of any logical business reason for this apparent suicidal behaviour on the part of Citibank? And how do you see this panning out in the next 6~12 months?