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Email this8:45 pm
December 4, 2016
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Interesting interview. She goes over many areas of the CC business.
Good watch.
She spins the high redemption rate from last quarter as being a positive sign that customers are engaged in the product and point systems. Also, lower attrition of customers. Calls this "brand equity".
She likes thinking about the potential profitability she basically said. Sounds like their losing money on the product right now. Likely they will do what so many Canadian CC companies are doing up here. Bait with good rewards and sign ups and devalue a few years later.
11:19 pm
October 21, 2013
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Her fluency with jargon is impressive. I don't think it really says very much though, in the end if you strip away the jargon. The message is that credit cards are great, consumer debt is great as long as they're paying Chase on it, partners and co-brands are great, and, most importantly, Chase CCs are the Greatest! Where have I heard this theme before?
My spin: She is "excited" because Chase makes ever more money if you have more debt as long as you keep paying; Chase makes ever more money by piggybacking onto customers of their partners and co-brands (e.g. amazon, Aer Lingus etc) because they make tons of money off these partners (the more the merrier); and redemptions don't hurt them because they were liabilities that they can now get off their books and redemptions encourage people to think well of the brand and... spend even more money! It's a great little circus from where she sits, not so good if you are paying them interest or merchant fees.
Canadians were perhaps too savvy and they didn't make enough off of us?
Great gift of free advertising from MSNBC to Chase!
Thanks for sharing. Always interesting to know what they're up to.
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