75% Transactors renew the card at $450 annual fee. All revolvers renew the card at $450 annual fee Dormants: Spend only enough to earn the sign-on bonus . Credit balance carried: $0 . Do not renew card at $450 annual fee 3. If you are a competing credit card provider, how do you respond to the Chase Sapphire Reserve? How should Chase position itself to be ready for these competitive responses? 4. How successful will Chase be at retaining Chase Sapphire Reserve customers into their second year? Why? What would you suggest they do to improve their odds of retaining their customers? 5. Over time, the Sapphire brand has evolved from a single product (Sapphire launched in 2009) to a three-item product line as shown in case Exhibit 5. Going forward boun #