Originally Posted by
beltway
Anyone opening accounts at that rate is doing only artisanal small-batch locally-sourced churning.
LOL, that's exactly what I do! I am an artisan of churning, not an industrial conglomerate.
Originally Posted by
knowledgeispower
From a business perspective all of them are bad. The typical American may open maybe 1 or 2 cards a year and not more than that and these are the people they want as customers.
Yes and no. Imagine a youngster a few years after getting her first good job after college, who has a few credit cards and an excellent credit history, and is being sent offer after offer for zillions of bonus points for opening every card imaginable. So she decides to try them all out to see which one fits the best. Because she likes the CSP best, she decides to open a Freedom because it really complements the CSP well. But when she applies, she's told "no, too many new cards." Disgusted at Chase's insult (after all, all the other banks are still fawning all over her with incessant mail offers), she cancels all her Chase cards and keeps only the Citi cards - rather than doing the opposite, which is what she had planned to do. Chase has lost a good customer for a long time, if not life.