“we will continue to be out there aggressively acquiring cardmembers, and that range will be where we see that range today, between 2.9 million, 3.1 million.”

In context

“hat same topic was just how are you thinking about the environment for new card acquisition? Is this 3 million level that you have been out for the last couple of quarters, the right level to think about for the next year? I understand that is dynamic and you will change, but what have you assumed in your planning? Christophe Le Caillec: Yes. Let me talk about sort of card acquisition numbers. We go out and we look at acquiring card members who really focus on acquiring billed business and we acquire revenue. And consistently now, if you take the first quarter out of last year where it was a little bit more of an anomaly of 3.4 million cards, we've been around that 3 million to 2.9 million cards. And we will -- as long as we have line-of-sight into high credit quality premium cardmembers, we will continue to be out there aggressively acquiring cardmembers, and that range will be where we see that range today, between 2.9 million, 3.1 million. And we don't really provide any guidance on that, but with the amount of money we're planning on spending, I think that's a -- it's a pretty fair assumption. And we report that but what we're really focused on is making sure that we're getting you know billed business acquired. When you look at the composition, obviously, in a stronger environment, you really looking for more organic growth from your existing cardholders. And I just made the comment, before we are small businesses that's not what we're seeing. And so when you look at any growth that you're seeing from a small-business perspective that is truly from new cardholders acquired. And a lot of the growth from a consumer perspective right now is new cardholders acquired which actually as we think about engaging with our cardholde”