Aren't most of those instant cancellations

a) done by selecting a number prompt over the phone
b) presumably done with some measurement of the customers expected value

So I would think the instant cancellations are done with folks they don't think its a big deal to lose.

That being said, we do so love our Prestige, that we wouldn't get pushy that one.

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It seems to me that there is some information asymmetry here.

The cardholder has a pretty good idea of what their expected use, and potential chargeoff risk is going to be over the next year.

The issuer can look at overall portfolio metrics, or national/local ones, or micro individual specific ones (the actual holder) as well as some blend of those when deciding if/how much to offer to win the next years worth of business. But for them at the end its still just an estimate -- an educated, well calculated one -- but with less info than the holder.