topic Re: Sam's to Switch to Mastercard from Discover in Credit Cards

Sam's to Switch to Mastercard from Discover

daninbath — Fri, 04 Apr 2014 14:37:34 GMT

The Sam’s Club warehouse unit also extended its agreement with General Electric Co.’s (GE) retail finance unit to provide the retailer’s store-branded cards in the U.S. and Puerto Rico, Wal-Mart, the world’s biggest retailer, said today in a statement. The Sam’s Club co-branded cards also will switch to MasterCard.

The new Sam’s Club cards will be issued to customers in June, with Wal-Mart-branded cards to follow later this summer, Brooke Buchanan, a spokeswoman for the Bentonville, Arkansas-based retailer, said in an interview.

The Wal-Mart and Sam’s Club Discover cards issued by GE will be phased out over the next year, Jon Drummond, a Discover spokesman, said in an e-mailed statement.

Re: Sam's to Switch to Mastercard from Discover

Stralem — Fri, 04 Apr 2014 14:43:20 GMT

Welp.

I guess that makes the ugly yellow Walmart Discovers an endangered species now.

But unlike with Amex's unicorn, I can't see a stay of execution happening.

Re: Sam's to Switch to Mastercard from Discover

MACFRME — Fri, 04 Apr 2014 14:50:17 GMT

I just got the Discover upgrade, and now it is being switched to Mastercard? Mmmmk.

Re: Sam's to Switch to Mastercard from Discover

coldnmn — Fri, 04 Apr 2014 16:33:21 GMT

Well at least it stayed with GECRB! But chances are new TLs! GRRR!

Re: Sam's to Switch to Mastercard from Discover

coldnmn — Fri, 04 Apr 2014 16:53:43 GMT

This will be a disaster for people trying to raise their scores with a new TL.

Re: Sam's to Switch to Mastercard from Discover

-Wade- — Fri, 04 Apr 2014 17:19:31 GMT

@coldnmn wrote:
This will be a disaster for people trying to raise their scores with a new TL.

Yeah it will hurt a lot of people!!! Sorry for the people who has the card

Re: Sam's to Switch to Mastercard from Discover

Ron1 — Fri, 04 Apr 2014 17:44:13 GMT

I knew it would happen. They started accepting Mastercard a few years ago. I hope it wouldn't have tier rate.

Ron.

Re: Sam's to Switch to Mastercard from Discover

09Lexie — Fri, 04 Apr 2014 17:59:03 GMT

Wonder if that's the end of the cash over purchase feature.

Re: Sam's to Switch to Mastercard from Discover

Ron1 — Fri, 04 Apr 2014 18:02:42 GMT

@09Lexie wrote:
Wonder if that's the end of the cash over purchase feature.

It is Discover card's benefits.

Ron.

Re: Sam's to Switch to Mastercard from Discover

09Lexie — Fri, 04 Apr 2014 18:05:45 GMT

@Ron1 wrote:
@09Lexie wrote:
Wonder if that's the end of the cash over purchase feature.
It is Discover card's benefits.

Ron.

That's what I was thinking. I know they add a new TL with the upgrades but changing their issuer should keep the opening dates.

Re: Sam's to Switch to Mastercard from Discover

coldnmn — Fri, 04 Apr 2014 18:12:47 GMT

@09Lexie wrote:
@Ron1 wrote:
@09Lexie wrote:
Wondeit if that's the end of the cash over purchase feature.
It is Discover card's benefits.

Ron.
That's what I was thinking. I know they add a new TL with the upgrades but changing their issuer should keep the opening dates.

But switching networks could be a game changer. It's not like changing from GECRB to Citi as an example. I can't see any other way but a new TL changing from Discover to Mastercard.

Re: Sam's to Switch to Mastercard from Discover

Ron1 — Fri, 04 Apr 2014 18:16:59 GMT

Not only Sams Club will switch. Walmart will choose Mastercard.

http://www.businessw...e-branded-cards

Ron.

Re: Sam's to Switch to Mastercard from Discover

navigatethis12 — Fri, 04 Apr 2014 18:17:45 GMT

@coldnmn wrote:
But switching networks could be a game changer. It's not like changing from GECRB to Citi as an example. I can't see any other way but a new TL changing from Discover to Mastercard.

Why would you think this? People who had a Macy's Visa kept the same history when the program was switched to American Express. I've converted two Chase cards from Visa to Mastercard and the information stayed the same on the credit report. I know these are different issuers, but changing a payment network shouldn't require a new tradeline to be reported.

Re: Sam's to Switch to Mastercard from Discover

coldnmn — Fri, 04 Apr 2014 18:40:31 GMT

@navigatethis12 wrote:
@coldnmn wrote:
But switching networks could be a game changer. It's not like changing from GECRB to Citi as an example. I can't see any other way but a new TL changing from Discover to Mastercard.
Why would you think this? People who had a Macy's Visa kept the same history when the program was switched to American Express. I've converted two Chase cards from Visa to Mastercard and the information stayed the same on the credit report. I know these are different issuers, but changing a payment network shouldn't require a new tradeline to be reported.

I hope your right. But I would have thought upgrading shouldn't have been a new TL but it was.

Re: Sam's to Switch to Mastercard from Discover

SunriseEarth — Fri, 04 Apr 2014 21:30:28 GMT

@09Lexie wrote:
Wonder if that's the end of the cash over purchase feature.

I hope not. That would effectively render the card useless to me.

I was hoping for a Discover upgrade on my Wally, since it's the one major US card network I don't have. Guess I'll have to go for an actual Discover

Re: Sam's to Switch to Mastercard from Discover

Anonymous — Fri, 04 Apr 2014 22:13:13 GMT

My experiences with changes of vendors and/or networks is they keep all existing credit history and replace the card provider/network in the bureau. Similar to American Express backdating and giving your credit reporting the benefit of the older date. As always, there are exceptions.

Re: Sam's to Switch to Mastercard from Discover

Kenny — Fri, 04 Apr 2014 22:53:00 GMT

I tell ya This makes me want to close this card.

Re: Sam's to Switch to Mastercard from Discover

coldnmn — Fri, 04 Apr 2014 23:34:12 GMT

@KennyS2006 wrote:
I tell ya This makes me want to close this card.

That's the first thing I thought of to. After thinking about it and reading the posts I don't think they would close and open new TLs. They would have a riot on their hands from people wanting to buy homes and autos and trying to raise credit scores to do it. It will be a shame to lose the cash over at check out but we can't do anything about that as that's a Discover thing.

Re: Sam's to Switch to Mastercard from Discover

SunriseEarth — Sat, 05 Apr 2014 00:01:06 GMT

@Anonymous wrote:
My experiences with changes of vendors and/or networks is they keep all existing credit history and replace the card provider/network in the bureau. Similar to American Express backdating and giving your credit reporting the benefit of the older date. As always, there are exceptions.

This is true, much like when Cap One bought the HSBC accounts. I kept my history on my Household Bank card when it moved to Cap One. I kept the same account number, but they advised that some would have to change numbers during the transition.

Re: Sam's to Switch to Mastercard from Discover

Anonymous — Sat, 05 Apr 2014 17:41:46 GMT

Is it a guarantee that we'll lose the cash over at checkout, considering that even the non-Discover Walmart card allowed it? It could possibly continue to be an in-house perk, no?