Sapphire Reserve Cards Not Rewarding for JP Morgan

According to the WSJ, Chase's much ballyhooed Sapphire Reserve Card may never turn a profit for JP Morgan. While the card was massively successful in enticing people to sign-up for the card, not many cardholders have carried a significant balance, and many are expected to cancel the card before they are charge for another annual fee. If this happens, it may threaten Sapphire Reserve imitators from entering the market.