FlyerTalk Forums - View Single Post - City National Bank Crystal Visa Infinite (USA); NY GA TN NV CA MA DC & MN
Old Sep 20, 2019, 12:23 pm
  #2599  
Boraxo
FlyerTalk Evangelist
 
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA 1MM, WN CP, Marriott LT Plat, Hilton Gold, IC Plat
Posts: 15,662
Originally Posted by good_boy_1234
Irrelevant. First, that was just one rumor with no confirmation. Second, yes over 90% will cancel their card even if they achieve profit from it. Just do the math...350 “incidental airlines fees”, no signup bonus, for 400 annual fee card, without transfer partner, is not worth it. Just have CSP as an example, 100K signup bonus (back then) plus 300 travel credit (not just incidental) plus the best transfer partners system plus extra 50% points redemption for traveling yet the vast majority have canceled their card.
First, from what I've read there is no substantiation for this rumor - just pure speculation. Which is worth about 2 cents. The idea that CNB is losing hundreds of millions annually on this card is laughable. That's what Chase lost on CSR which was quickly rolled out to millions with massive signup bonuses. CNB as a whole probably has fewer customers than Chase does in one state.

Second, "doing the math" $400-350=$50 net annual fee, which is pretty low for cards that come with all the perks that are included with Crystal. The GE rebate alone is easily worth $25/year (assuming you can use it, which is no problem for a family). Great travel insurance including primary car rental and medical evac, - for a family that would easily cost you $75 per trip - but of course worth $0 to those of us who use CSR and other cards for travel. The unlimited Priority Pass is a huge perk for families as it is basically gone now from all other cards. Easily worth $25/year.

Third, the CSR (not CSP) retention rate was reported by Chase at 90%. I am sure that is accurate otherwise Chase would face SEC charges and investor suits. One can speculate on how many customers would dump CNB - but query whether they would really miss all of the unprofitable ones who are currently gaming the system.

With all that in mind, I think the biggest mistake would be for CNB to cancel the signup bonus. Because that would reduce new applications to a trickle...
Boraxo is offline