Originally Posted by
WasKnown
As surprising as it may be to people in the points and miles game, the active account figures for the Venture X are not satisfactory. Capital One is not very good at underwriting prime and super prime customers and is even worse at figuring out how to monetize them. I’m not too impressed with their attempt to convert select users to charge cards in an attempt (presumably) to drive more interchange revenue. Time will tell if this proves to be a winning strategy. Methinks the answer is no.
What Chase has accomplished with the Sapphire cards (particularly the CSP in recent years) is nothing short of incredible. I don’t expect them to lead the charge for anything because they simply do not have to.
Amex is definitely playing a different game from every other issuer (though we are seeing some convergence). The real winner is Visa, who has been crushing analyst expectations earnings season after earnings season. During the great Meta capitulation, Visa market cap even flipped meta to become a top 10 company by market cap.
I'm having a hard time following your logic on C1 not being successful. I for one have stopped using my Chase FU in favor of the C1 VX and I assume many are in the same boat. What does it really matter to them if someone like me who pays off their balance each month holds a charge or a credit card? Yes, I know that if I don't pay it off they get interest but I do pay it off so what benefit is there to changing me over to a charge card? That was the question I was seeking an answer to when I posted my question. Are their benefits of either? I guess that I will be forced to pay my balance monthly but clearly their experience with me dictates that I already do that.
On another topic, there seems to be a discussion every couple of months about Amex or Chase crushing it and then the following month there is a discussion on how specific products are causing them to loose money. This just seems like the nature of the game for me and as a consumer why do I care about analyst expectations and the issuers market cap.....I care about CC offers that work for my spending habits.