Originally Posted by
eponymous_coward
That’d be pretty mind blowing seeing C1 86 their lounges (because if you’re not pushing the VX, why would you keep the lounges?) and keeping the VX on life support like the RC card (Chase) and the Citi Prestige…
Originally Posted by
rasheed
There definitely has to be different economics and doubtful reserves if a card is a charge versus credit, but it must be a brand issue. I can't see how else Capital One is losing the battle for super premium marketshare with VX.
Conclusions regarding Capital One's ultimate success with Venture X seem premature. From what I can tell from financial disclosures they are still working to grow the premium card business (and at least claim to have made progress).
Not sure I'd characterize the RC card as "on life support", either. I sense the card was sidelined when Amex secured an exclusive for the most premium Bonvoy product...that could change at some point, conceivably, but there's no indication Chase wants to shut it down.
Citi...who knows what they're up to. I don't think they know what to do with the premium segment. AA brings a ton of business to the executive card, and they do little to optimize opportunities with that base, IMHO.
In addition, the fact that Capital One continues to market to a mass audience (and play on its historical strengths) does not necessarily mean it's incapable of developing a premium customer base. Chase, BofA, Citi all have a diverse product line.