The battle of the credit cards
March 16th, 2008Up to at least 10 years ago it was very difficult to get approved to get credit cards. You practically had to beg the banks to let you have even their lowest-level cards. Nowadays it’s the total opposite - banks would send their marketing people to invade offices - at my department they’ve done so at least twice.
All kinds of carrots are dangled; where things like zero annual fee were a rarity then, it’s common place now as competition has reached an intensity like never before.
Of course credit cards are also status symbols; last time a gold card was enough, but now platinum cards are replacing them.
So basically, credit card with rewards stand to get the most signups.
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