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Banks don't care if you are churning- article

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More like a previous insider feels the approval process doesn't detect or focus on churning.

I'm sure they still prefer you don't churn.

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Link said: In dozens of responses to the eager Redditors looking for every bit of information to optimize their credit situation just a little bit more, the former Citi (C) employee clarified some longstanding questions and provided insight into how the process all works.

So this is based on one ex-employee of $iti of how $iti processes things. While useful, I would be cautious not to read too much into it (at least for non-$iti banks).

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5/24 is pretty much the counter argument that yes, banks do care.

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Stubtify said:   5/24 is pretty much the counter argument that yes, banks do care.
  Well, yes...ONE bank (Chase) cares.

Bank of America?  Not so sure they care.  Otherwise, why do they let you get 3 or 4 Alaska Airlines Visa cards per year and get 30,000 miles bonus each time?  40,000 miles is a round trip ticket to Europe (I've done it more than once).

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ahallfatwallett said:   
Stubtify said:   5/24 is pretty much the counter argument that yes, banks do care.
  Well, yes...ONE bank (Chase ) cares.

Bank of America?  Not so sure they care.  Otherwise, why do they let you get 3 or 4 Alaska Airlines Visa cards per year and get 30,000 miles bonus each time?  40,000 miles is a round trip ticket to Europe (I've done it more than once).

  
BOA lets you churn that many times in a year???

Chase retail employees encourage me to apply . 

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Chase has 5/24, AMEX has 1 in a 'lifetime' policy, Citi has (poorly implemented) 1 bonus / 24 mo since opening-closing, BoA has been cracking down on churners over the past few weeks...don't think any banks are interested in attracting churners. 

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Us bank is another one who's tougher for us.

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fwuser12 said:   Link said: In dozens of responses to the eager Redditors looking for every bit of information to optimize their credit situation just a little bit more, the former Citi (C) employee clarified some longstanding questions and provided insight into how the process all works.So this is based on one ex-employee of $iti of how $iti processes things. While useful, I would be cautious not to read too much into it (at least for non-$iti banks).More importantly this ex-employee left in early 2013. They didn't care then, but they do now.

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scripta said:   
More importantly this ex-employee left in early 2013. They didn't care then, but they do now.

This is the key. For those who've kept count, the 5/24 of Chase, the 1/24 per brand of Citi, etc are anti-churning measures that did not exist before 2016. So the industry had a lot of time to change between 2013 and now in practices of its reps.

I'd not assume that the script for CSRs, application handling, etc are still the same now than 4 years ago based on what we've seen happening in the last year or so. I'm not saying they spend more time now. I mean when you get approval in less than 30 sec, obviously a person didn't get much chance to glance at your application.  But I think it'd be erroneous to think the banks still don't care about churners when they've taken very obvious targeted steps to curb the financial impact of that activity on their bottom line. 

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So, uh, yeah, I'd say banks care if you churn!!!

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The question really isn't "do banks care if you churn?" Obviously, if they could include a box on the application saying "I'm going to only charge the minimum required to get the upfront bonus on this account, and then sock drawer or cancel the card," and everybody answered it honestly, they'd deny all the applications who checked that box.

The real question is, how willing are they to turn down potentially profitable customers to avoid churners? On this, the answer appears to be "more willing than in the past."

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