[absherwin]

The other bit of evidence she cites but doesn't quantify is that marketing new cards causes incremental debt.

That said, I largely agree with your sentiment that the article doesn't provide sufficient quantification. You also might want to consider that the author might have experience seeing that quantification and making decisions based on it that can't be shared in The New Republic without violating confidentiality agreements.

One lens through which to view this: Is a culture that tends to view its customers as mathematical entities likely to make the best decisions either for their customers or themselves? That's the real tragedy and is half of the explanation for the paradox that such genuinely intelligent and kind people do things that hurt others (and in some cases themselves).

Disclosure: I also worked at Capital One and briefly encountered Elena there