Chase burned through its inventory of metal cards—a stock that was supposed to last 10 to 12 months. (The company declined to say how many Preferred or Reserve cards it’s issued.) To continue to sate the appetite for the Sapphire Reserve, Chase had to switch to standard plastic cards as placeholders. The bank says it’s now sent out as many plastic cards as metal—two years’ worth of cards, gone in less than a month.
This is with 5/24 in place too. They probably would have gone through 3-4 years worth of cards if churners were able to get their hands on it.
CSR holders had spent $1.5M on Airbnb & Uber alone as of a Sept 12th article
(a few weeks after it's release). So their interchange fees must be nice on that ($30,000 at a low 2% - definitely much more than that in reality). Not bad for a few weeks.
How I imagine Chase feeling right now: