Supply chain issues for credit cards...

[masscredit]

I was approved for an Ally credit card about two weeks ago. I haven't recieved it yet so I figured I'd give them a call. I was told supply chair issues are causing delays in sending out cards.  I didn't expect that!

[Bradac56]

Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

[simplynoir]

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Think I can believe this because the EMV chip that cards have which allows contactless transactions on payment processors are facing shortages just like other industries. Supposedly we're at the tail end of the chip shortage but I think I can probably still expect it to be an issue for banks when issuing cards

[Anonymous]

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Will add that JP Morgan Chase out of Westerville OH and First Data Resources LLC out of Omaha NE also produce debit and credit cards for themselves and others.

[Drifter73]

This is an ongoing issue since april which they warned would get worse over time. It's not isolated to a single lender.

They started reporting the shortage back in April 2022 and blamed it on the Russian/Ukraine war. You can find hundreds of articles about the shortage in Google. Here's one for reference: https://www.americanbanker.com/payments/news/a-chip-crisis-is-looming-for-payment-cards

[isik]

This is an issue in other countries too. I know some people overseas that can't get replacements for expired cards, same excuse. Apparently the EMV chip shortage is the reason.

[FinStar]

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Reference some posts above this one (in addition to other threads floating around this section of the forums + other blogs besides MF) to get more insight on the issue. Also, that figure you stated is incorrect.

An item to keep in mind is that there are a plethora of vendors that a variety of financial institutions use for plastics fulfillment. So, unless you work directly in that particular side of the industry or logistical operations for a variety of those financial institutions that are faced with such current constraints, it's easier to dispel the alleged notion that it's simply an "excuse".

[Mr_Mojo_Risin]

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Yeah, that excuse is so old and tired lol. About 3 years later "sorry, supply chain" Duuurrr

[simplynoir]

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@Mr_Mojo_Risin wrote:

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Yeah, that excuse is so old and tired lol. About 3 years later "sorry, supply chain" Duuurrr

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I just don't understand why a bank would NOT want a customer to have a credit card to use as soon as reasonably possible. To me in this instance it's not an excuse in my mind. I mean if the customer is wanting a new one whether it's due to damage or replacing a lost/stolen card they want customers with their credit card so they can spend, get transaction fees and if carrying balances get interest as well. Otherwise that spend will go to a competing bank and they lose out as a result. There's no compelling reason why they wouldn't want you to have a credit card replacement

[FinStar]

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@Mr_Mojo_Risin wrote:

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@Bradac56 wrote:
Not sure I believe that line, 90% of all cards are filled by U.S. Bancorp or Bank of America - as in all the regional/community banks and credit unions. I doubt card stock and laminators are that hard to source right now. Everyone is still using that excuse but it's not that much of a thing anymore.

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Yeah, that excuse is so old and tired lol. About 3 years later "sorry, supply chain" Duuurrr

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A variety of financial institutions have the capability to load the virtual CC version onto a mobile wallet, if available. Some FIs automatically update expiration date and CVV on any existing CC replacement on a mobile wallet as a matter of convenience while a card is in transit.