I've never understood why they let you guys churn through these cards like you do, especially for cards with a waived first year fee. Why don't all cards just take the Amex approach and say one reward bonus per lifetime or at least for some extended period like 24 months or something like that.
I understand that a credit card bank earns a fee per transaction so I don't think they're necessarily losing money on churners but they're also not making much money either. And the churners also probably cost a lot in customer service man power.