Originally Posted by
EasternTraveler
That is what I said. Are you serious? I don't think I have ever had a charge that was not an even dollar amount. So I called another banker I know in
CA and asked if any of it was true and was told, "A lot of bad things are going on with that card, RBC doesn't like the losses and wants the portfolio downsized." I was told that it might be in my best interest to look at the card from a standpoint of prestige and the PP. Nope, I have better options for PP and I am not interested in prestige. I quit doing prestige when I cancelled my Centurion.
I think their bankers got stuck with tough one to explain. Some of those guys understood, and explained that the card was a loss leader, and used it open up relationships.
But now that the card has basically been torched, the banking relationships are getting hurt too.
In reality, most consumers interact with their 'bank' via their card just about every day. That's the front face of the bank for many of us. Normally banking services all running on auto pilot behind the scenes. Maybe we get some cash before a trip, or visit a safe deposit box a couple times a year. But other than that, the web site and credit card are the majority of our banking experience.
CNB has blown up those aspects. It puts their relationship bankers in a bad spot.
Once all my travel booked on the old Visa Infinite is complete, I'll close our downgraded Visa Signature as well as the affiliated checking / CD etc. Kind of sad it came to that, our contact there was responsive and knowledgeable.