A good arcticle on the CSR.
"Some at J.P. Morgan are raising concerns that Sapphire Reserve won’t make money for the bank, due in part to high demand and the card’s generous rewards. Meanwhile, the lender is pushing for about $200 million in fresh cost cuts in the unit that oversees the card, people familiar with the matter say.
The scrutiny inside the bank reflects changing economics of the competitive premium card market. Rewards for consumers—paid for by the bank—have gotten sweeter. Spenders, meanwhile, are growing savvier about maximizing benefits and avoiding balances that pad banks’ profits. "
Link to Article: WSJ Arcticle
So many interesting things in that article, thank you for posting!
I didn't listen to the Chase call (I don't follow the financial sector at all besides broad strokes: banks happy, typically good news) but apparently it was a goldmine of things of interest to at least us credit card geeks.