CarefulBuilder14 wrote:Bonus offers change frequently and often for no clear reason. I wouldn't read too much into this until/unless Citi adopts something like 5/24 or refuses churning bonuses.
I'd agree with this for the most part. That being said, I think it's certainly possible they are or will be getting rid of large sign up bonuses. I get most / all of my cards with the intention of long term use / keeping them "forever" theoretically. Even with that, however, I spend much less money on the cards once the bonus has been met. I don't spend money I wouldn't otherwise spend to meet a bonus. So, from the theoretical perspective you're presenting on behalf of Citi, if they could have that heavy spend for 1-2 months or 12 months a year every year, I would be trying to figure out how to get the latter as well.
We will see. I could see things going either way with the sign up bonuses really. With the slowly "improving" economy, there are hopefully more potential users that qualify for these products now... So do they want to entice MORE accounts or higher quality accounts or somewhere in between. It's whatever line they want to walk really.
I'm sure we'll see some changes over the next several months.
Though I would say if they really wanted to stop churning and bonus hunters, they could do what Amex does...limit the bonus to lifetime instead of 24 months. Even Chase who wants to discourage everyone from bonus hunting still let's you get the bonus every 24 months. I guess they don't mind if you bonus hunt with Chase repeatedly but if you're spreading it around the likelihood of you spending regular money with them diminishes.
Curious move though. I'm interested in watching the long term with this.
I usually don't care about the bonus when choosing a card. Obviously I want the points or whatever it is after I sign up, but I try to find cards that will benefit me, whether or not I get a bonus, year after year without weighting it against a sign up bonus.