The Sapphire Reserve card is great for consumers – but not JPMorgan (JPM)
|10/12/2017||Posted by BusinessMediaguide.Com under General World News||
JPMorgan Chase is planning to cut about $200 million in costs related to the unit that manages its popular Sapphire Reserve card, according to the Wall Street Journal.
The bank already cut the rewards associated with the card in half back in January — initially, users who spent $4,000 in the first three months earned 100,000 rewards points toward travel, equivalent to roughly $1,500.
As a result of an overambitious original offering, Chase was able to spark adoption of its read more >>>