Yeah, excludes spends in supermarkets, petrol stations, retail stores, coffee houses, . … . .
I can imagine it’ll attract a whole bunch of chase-the-rate folk for the first year.
The problem after that will be making them sticky…
Oops. My bad. Flipping between posts too much I’ll remove
They will be relying on a combination of the appeal of a teaser plus customer apathy.
The teaser to make the hassle of trying them out in the first place worth it, and subsequent apathy to persuade them to stay.
Yes, of course.
The point being, though, that those motivated to overcome the apathy and move to Chase for 1pc cashback are likely to be the same crowd that would leave Chase to chase the next best rate.
Of course, they’ll be hoping that their service is so good that folk will want to stay anyway…
Also that the wider market will not offer anything that exciting just as the 1% comes to an end!
I’ll probably wait a bit before opening an account to see what other people think of it. I don’t want to rush in for it to end up being a bit rubbish.
Lines up with what folks have been told when phoning them! Should be 21st!
Exciting! I’ll be applying as soon as I can
There’s so much going on this month. It’s been hectic. Especially for fin and tech fans.
Indeed! Although I’m not sure signups will open on Tuesday – depends on how much hype they want to build. If they announce it Tuesday without a waitlist then it’s all good but I could see them making folks wait a while
Do you have insider knowledge? Or is the strength of the brand enough, regardless of what the product is actually like?
Not @ndrw, but I’ll also be applying ASAP. Strength of the brand certainly plays a part for me, in terms of confidence. For me, I really like the little tidbits we’ve heard about how they’re approaching their UK bank. I also just generally have an interest in fintechs and am always willing to give a new licensed player a try. And I collect the cards, so there’s that. Even if it’s terrible, I’ll still have a new card to add my collection.
Sadly I don’t. I wish I did though! I think it’s the strength of the brand for me. Amex have done it and their customer service is second to none. If Chase pull off a fairly seamless app experience with first class customer service, similar to Amex, they have a customer for life in me.
(And I want another card to add to my collection)
Edit: @N26throwaway, are you me? Am I you?
Trick question! We’re both @SebH
I suppose I’m in the camp of wanting to see what the proposition is first. I’m sorry for pouring cold water on things, but I’m not expecting anything great. We have Starling for purist digital banking and Monzo who’s doing something a bit different: it feels like the route to exploit is an integrated product set and excellent customer service - but those need to be tested first. And I’m still sceptical about the tech stack and the app - but would love to be proven wrong!
You apologised for being me the other day…
Absolutely! I just don’t mind being among the first to do that! And I get a new card out of it. It’s win/win for me!
We are all one