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It turns out that people who have Sirius Satellite Radio (NASDAQ: SIRI) packaged into their new cars are not anywhere near as likely to renew their service as people who go out and buy the service in the aftermarket.
The same holds true for consumers getting XM Satellite (NASDAQ: XMSR).
The New York Times writes that SIRI and XMSR "added about 3.7 million subscriptions last year, according to David Bank, an analyst at RBC Capital Markets, and some 79 percent of those were from promotions to car buyers or leasers." People who get their service with a new car are only likely to re-up the service 40% of the time. That compares with a 66% renewal rate for consumers who went out and got satellite radio to install in their current vehicle.
The numbers are not exactly promising.
Douglas A. McIntyre
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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