The next big thing

[Anonymous]

So with Christmas over, with Chase finally releasing the CSR to the public I guess the only logical thing to do now is ... start talking about the next big thing.
So what's everyone's opinion?
Who's the next company to give us THE WORLD?
Does BOA or WF jump in the game or does Citi or Amex rework there program to catch up?

[Anonymous]

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@Anonymous wrote:
So with Christmas over, with Chase finally releasing the CSR to the public I guess the only logical thing to do now is ... start talking about the next big thing.
So what's everyone's opinion?
Who's the next company to give us THE WORLD?
Does BOA or WF jump in the game or does Citi or Amex rework there program to catch up?

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I wouldn't expect especially Wells Fargo to do anything. So here is to wanting to be surprised by them if they up the ante.  I expect other companies to tweak their products to match what Chase is offering.

[Anonymous]

Well I have a Citi prestige card and will be dropping it come March 1st. Unless they come up with improved benefits but as of now they are taking beanies away so the CSR + CRC will be my 2 go to cards from now on.

[Anonymous]

Here's how banks probably think.  Dominos pizzas are generally about $12 each.  Maybe the next big thing is a free Dominos pizza a week for the entire year. $12x52 weeks is $624.  So this next big thing will come with an annual fee of $650 and the banks think you're likely to skip several weeks of pizza during that year.  This thing would be marketed on Nick Jr and the Cartoon Network.

[Anonymous]

I'm excited for the future! With 2% general spend becoming 'the norm' and 5-6% category spend more prevelant. Also, with more Visa Signatures and World Elite Mastercards being issued (*read: more swipe fees), it'll be interesting to see how far ccc's are willing to go.

[Anonymous]

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@Anonymous wrote:
I'm excited for the future! With 2% general spend becoming 'the norm' and 5-6% category spend more prevelant. Also, with more Visa Signatures and World Elite Mastercards being issued (*read: more swipe fees), it'll be interesting to see how far ccc's are willing to go.

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I feel like that's going to backfire on the banks/Visa/MC. A lot of businesses are already not too happy that they have to accept cards in the first place, not to mention that Walmart's willing to sue them just to save 5c per transaction for debit cards. I wouldn't be surprised if $10 minimums and/or 25c fees for cards become way more common.

[Anonymous]

I disagree. Now that paying with plastic has become 'the norm', the additional cost of merchant processor fees is figured into the cost of merchandise. Don't get me wrong, some merchants still refuse to accept it, or still whine about it, but they're becoming the minority.

[Anonymous]

As long as Chase doesn't back down from the benefits of the CSR and Ritz, it will hopefully push other HIGH end cards to give us more.
Here's to hoping for extreme Car rentals. Like paying for a SUV and being given a Lamborghini for a week, do what the Ritz does with hotels only now with cars where you can UG 3 times a year for like 3 days a peace.

[Anonymous]

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@Anonymous wrote:
I disagree. Now that paying with plastic has become 'the norm', the additional cost of merchant processor fees is figured into the cost of merchandise. Don't get me wrong, some merchants still refuse to accept it, or still whine about it, but they're becoming the minority.

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The issue is more that businesses feel "forced" to do so at this point due to, like you said, card payments becoming "normal". Combined with smaller businesses not getting nearly as good of a deal on processing as Walmart, etc., it's no wonder the number of places with minimums has gone up, at least around here.

[Anonymous]

If Bofa and Wells Fargo want to be considered serious in the Credit Card business, they're going to need to come out with something asap.