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Here’s how banks can offer credit cards like the Sapphire Reserve with enormous sign-up bonuses and still turn a profit

It’s not often that a CEO will announce a $200 million loss with a hint of pride, much less that they’ll claim they wish the loss was twice as large.

But that’s exactly what JPMorgan Chase CEO Jamie Dimon did in January while discussing the impact of the company’s insanely popular Chase Sapphire Reserve rewards credit card.

Released last summer, the Sapphire Reserve generated intense interest because of an array of enticing benefits to cardholders, including triple points on travel and dining as well as a gaudy 100,000 point sign-up bonus — worth $1,500 — which the company slashed read more >>>

Source : BusinessInsider.Com

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