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Chase to spend $30,000,000 to launch new Sapphire Credit Card targeting Wealthy!

Eighteen months in the making, Chase is launching a new Sapphire credit card aimed at the wealthy. Apparently, Chase has squeezed enough cash out of the 1,250,000 non-wealthy customers who are victims of the “no opt out, unilateral, 150% increase in payment requirement or double your interest rate for one year” change in terms to unveil this new campaign in style.

Chase wants to give BIG rewards to holders of this card unlike their egregious loan-shark-like actions implemented against the peons who were upholding their side of the agreement by diligently paying off their credit cards. Playing reverse Robin Hood, no doubt….squeezing the the little guy to make credit card life better for the affluent.

Excerpt: Quote from Joan Bassett, marketing director for Chase Sapphire “We’re giving cardmembers more value and positioning Chase well for the long term,” said Ms. Bassett. “What we’re seeing in our data is consumers are looking to get more out of their reward programs, looking to redeem them and expected to be rewarded more for their loyalty.”


Change-in-terms for the Wealthy

Change-in-terms for the Wealthy

Chase – Targets high-income consumers in multimedia effort

“NEW YORK JPMorgan Chase is kicking off a national ad campaign in support of its new credit card, Chase Sapphire, a service for upscale consumers that rewards users for spending.

In a bid to reach shoppers with deep pockets, Chase Card Services is investing an estimated $30 million in measured media to introduce Chase Sapphire, ….. Sapphire is being marketed to consumers in the upper 15 percent of all U.S. households, with incomes of $120,000 or more.”

This effort is a little different than the change in terms we all experienced with Chase. Since Chase continues to empty our pockets, it stands to reason as our pockets get emptier, Chase would go hunting for deeper pockets. Recently I’ve been reading complaints posted by people whose Chase Reward cards have also had a sudden change in terms – regular folks who will no longer receive the rewards they signed up for and have been enjoying for years. When asked for an explanation, Chase continues to recite the “it’s the economy, it’s market forces, it’s because we can” mantra they used with us…ad infinitum, ad nauseum…

Apparently the “economy, market, and because we can” are motivation for this new breathtakingly expensive marketing gambit. Amazing, isn’t it? The exact same market conditions which cause one group of long-term, reliable customers to be cruelly punished is the reason a huge carrot is to be offered to another group of customers that does not yet exist.

Chase Long Term Positioning Plan : A bird in the hand is worth nothing, while hypothetical birds in the bush are worth, well….a speculativeTHIRTY MILLION DOLLAR AD CAMPAIGN!!!

Watch for the $30,000,000 Sapphire ad campaign – coming to a television channel near you! There must be a untold thousands of affluent customers who have had their heads buried in the sand this past year and either don’t know and/or don’t care that Chase has been treating millions of their customers like dirt. Rich, deep pocketed consumers, who are just dying to hop on Chase’s Sapphire Band Wagon.

Chase will treat wealthy Sapphire card holders right and will never change the terms on them, right?

If you believe that, I have a bridge I want to sell you…..

A Chase Promise made is a Promise you can count on (Chase breaking).


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