How can we make Premium/Metal 10x better?

I think they can afford it now, in all honesty.

They make 2% from non-EEA markets and have launched in Singapore/US. So they can cross-subsidise with that and then stop cutting us short, considering the US/SG/AU will all get 1% everywhere

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Latest published numbers show that they are still burning money, which they are supposed to in this phase. And they are still going to burn money by the end of this year after interchange from outside EU is considered. Running the business itself is just too expensive, and that’s where a substantial part of card related income goes to. Especially with the basic product being free, fees on that side will never add up to subsidise this.

And the problem for them would be that big spenders in EU become the most costly customers for them. Customers in the US would be cost neutral to a certain extend, whereas in Europe, they won’t.

That’s why I am coming back to saying it’s more about what’s sustainable in the long term and not what they can afford.

Add frequent flyer program. Ideally non-specific to work across all carriers.