Originally Posted by
Caspavio
hmmm where did you see this? not on a fan of the csr changes too, but this number seems plucked out of the thin air
1) the new csr has been out for around 4 months. assuming that the renewals are evenly spreaded out in a year, that is only 25% of the existing holders who may cancel or downgrade their csr
2) for existing holder, the main negative is the loss of 3x for certain types of travel spend, but with the overwhelming majority of holders' af still $550 (since only those who renew after oct 26 is at the higher af and it has only been a week), the $300 travel credit intact, a ton of new credits, and the 1.5x grandfathered until oct 2027, i dont see that many existing holders rushing to cancel/downgrade their card
3) there has been quite a lot of sign ups for the enhanced SUB, which will replace any cancellation/downgrade
Chase made these changes because they were losing money on the card, mostly from sign up bonuses, and they were not getting everyday spend, only people booking travel and restaurants, and then using the points through the portal.
The analyst was on CNBC just this past Tuesday talking about it on TV, works for RBC Capital, I don't recall his name, but you probably can find it if you dig for it. He also talked about the new benefits are not bringing in new customers as they had hoped. Specifically siting the lack of restaurants that are viable for current cardmembers.
If you are only sitting on 20,000 to 75,000 points (Almost all of the cardholders), that was $300 to $1,000 in travel and won't take much time to spend down.