kdm31091 wrote:Definitely seems like they are downplaying their core cards and focusing on cobrands. Maybe they are tightening up financially. Giving out cobranded points/rewards isn't as expensive as plain old cash.
I think the customer base has a lot to do with it. Capital One advertises Venture and QS heavily, so they get a good number of average non-bonus-geek customers who use the cards heavily (and don't cancel or call to request a waived AF).
Barclaycard didn't advertise Arrival+ much, and many Americans aren't even aware that Barclays has an American credit card subsidiary. Most people who have heard of Arrival+ are card geeks.
So although some people paid their Arrival+ AFs and used the card heavily, they probably were too few in proportion to the bonus hunters. With tiny margins, even those accounts would have needed a lot of spend just for Barclaycard to break even on loyal customers. With relatively high credit standards (vs. Capital One) maybe their lower-risk Arrival+ customer base wasn't carrying large balances. They also didn't have Jennifer or Samuel bringing in the profitable average consumers.