Old Jul 18, 17, 4:19 pm
  #41  
garykung
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Originally Posted by mikesyr18 View Post
In addition to shooting themselves in the foot with being the best issuer of major bank cards in America, they'll shoot themselves in foot again if they devalue the point value on the Freedom and INK cards.
Actually, the best go to Discover and AMEX according to J.D. Power.

Chase is not as great as you think.

Originally Posted by mikesyr18 View Post
You know what would be great? If companies actually gave a [redacted] like they used to, and didn't pretend they were broke and on the verge of bankruptcy.
The reality is banks want your money. They don't give a [thing] about customers.

As you are forced to play the game, the only thing you can do is to get leverage with the banks.

Originally Posted by Happy View Post
The credit card business only contributes a small portion of the bank's profit if you even read the 10Q and 10K now you are talking about stock price.
I read the latest 10K per your advice. It turns to be the credit card business was significant to JPM, which contribute almost 10% of its noninterest revenue in 2016 (more than 10% in 2014 and 2015). On the other hand, JPM made less money from mortgage.

Originally Posted by UpperNWGuy View Post
My fear is that the devaluation of UR transfers from no-fee to fee cards is only the first phase of Chase's changes. The second phase will likely be to adjust the fee and/or benefits of the CSR, but they won't even hint about such changes until the first wave of CSR cardholders has made its renewal decisions. I'm thinking they will either increase the CSR's annual fee or reduce the travel credit to put greater distance between the cost of holding a CSP ($95) and a CSR ($450-300=150). I predict the rumors will start in November.
As soon as the revenue generated from CSP and/or CSR is sufficient, the cut may not happen at all.
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