Alliance Data looking to buy Chase’s AARP portfolio

[Anonymous]

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-08-27/jpmorgan-weighs-sale-of-...

[Andypanda]

It would be good for people who want it, and are over 5/24

[Anonymous]

Nice find! Comenity Bank ... for those who appreciated being part of the JP Morgan Chase Family this may not be a day uplift Almost applied for the card but rewards too limited for me. Now I am glad to sit on the side lines.

[CreditCuriosity]

Ya just saw this found it interesting.  As most people with AARP card being on the older side should have little credit risk.. Wonder why they are consider doing this as i believe it stated about 1 billion in receivables?

[Anonymous]

Comenity? No thanks.

[Anonymous]

From article: "Alliance Data’s stock has slumped by about 50% since the start of last year on concern that its fate is closely tied to mall retailers now struggling as consumers shop more online."

I just read that Forever 21 is preparing to file for bankruptcy. This follows all the reports of Victoria's Secret closing dozens of stores.

The inside of a mall is going to start looking like a scene from Mad Max soon.

[Medic981]

---

@Anonymous wrote:

From article: "Alliance Data’s stock has slumped by about 50% since the start of last year on concern that its fate is closely tied to mall retailers now struggling as consumers shop more online."

I just read that Forever 21 is preparing to file for bankruptcy. This follows all the reports of Victoria's Secret closing dozens of stores.

The inside of a mall is going to start looking like a scene from Mad Max soon.

---

If Data Alliance and Comenity Bank's success is tied to the fate of mall retailers I can see why they would want to diversify. 

[Anonymous]

@Anonymous... you may have just formatted the future Mall. Shopping will become more in line with the desires of the generations coming into control of the economic and political world.

The Baby Boomers are moving on along with the Silent One's so major life altering changes are starting to show more reflective of the newer generations interests. In this change, I have not read what the Gen X or Y think as we seem to have skipped on by them?

[Anonymous]

---

@Anonymous wrote:

@Anonymous... you may have just formatted the future Mall. Shopping will become more in line with the desires of the generations coming into control of the economic and political world.

Thursday afternoon I went online to find an automatic water fountain for my cat. It was delivered before noon the next day.

Not many retail stores can compete with a massive virtual selection of products that can be delivered within 24 hours. Bye bye mall.

[My cat loves that flowing water! Highly recommended.]

[kdm31091]

Going from Chase to Comenity definitely seems like a step down, but Chase doesn't really push this card or advertise it much, so my guess is they for whatever reason want to be rid of it. Comenity probably wants to diversify since, as stated, you can't really substain yourself solely on mall store credit cards these days.

It's a good thing for those who want the AARP card and can't get it due to Chase's restrictions. This is why it's sometimes a good thing that cobranded cards occasionally change banks.

I'd be interested to see what Comenity does to the rewards structure. I wonder if they will make the rewards more AARP specific as opposed to straight cash. Right now, the card offers nothing IIRC that makes it really AARP specific other than the branding, and Comenity's cards generally offer brand specific benefits/rewards.