Feb
20
2022
During the pandemic credit card companies weren’t adding many new customers for travel credit cards. But customers were still cancelling cards, at least at normal rates. (Banks went to great lengths to retain customers and did stop greater levels of cancellations in most cases.)
But without adding customers to the funnel, portfolios shrank. That’s a major reason we’ve seen such big initial bonuses over the past 6-9 months. And we’ve also been seeing cards get refreshed with new benefits, to remain competitive, to better appeal to new customers, and to address customer preferences that have changed.
