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Amazon renews Prime credit card tie-up with JPMorgan Chase after flirting with American Express

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gdale6
Moderator Emeritus

Amazon renews Prime credit card tie-up with JPMorgan Chase after flirting with American Express

  • Amazon has chosen to renew a deal allowing JPMorgan Chase to issue the tech giant’s flagship rewards credit card, ending months of heated negotiations, CNBC has learned.
  • American Express and Synchrony were among the issuers involved in discussions, and Mastercard had hoped to displace Visa as payments network, said people with knowledge of the talks.
  • Known for driving hard bargains with partners, Amazon pushed issuers to accept their terms, which included having to fork over part of the bank’s revenue from making loans, as well as rebate some of the interchange fees the bank would normally keep, said the people.

https://www.cnbc.com/2022/03/31/amazon-prime-amazon-renews-prime-credit-card-pact-with-jpmorgan-afte...

Message 1 of 20
19 REPLIES 19
FormerCollegeDJ
Frequent Contributor

Amazon renews credit card relationship with Chase

I'm a bit surprised I haven't seen this posted here, but according to the following CNBC article, Amazon has decided to renew its credit card agreement with Chase.  Both American Express and Synchrony had negotiated with Amazon, and Mastercard was also hoping to become the new processing network, replacing Visa.  However, Amazon ultimately decided to remain partners with Chase (and retain Visa as the processing network).

 

https://www.cnbc.com/2022/03/31/amazon-prime-amazon-renews-prime-credit-card-pact-with-jpmorgan-afte...

 

NOTE: This post was moved from the general Credit Card forum.  I usually don't check this forum and didn't see the post above.

Playing the credit card rewards game since early May 2020.

Current credit cards:
American Express: Hilton Honors
Bank of America: Customized Cash Rewards Visa
Capital One: SavorOne MC
Chase: Amazon Visa, Freedom Unlimited Visa, Freedom Flex MC
Citi: Sears/ThankYou Rewards MC, My Best Buy Visa, Custom Cash MC
Comenity: AAA Travel Advantage Visa
Discover: Cash It
Elan: S&T Bank Max Cash Preferred Visa
FNBO: Amtrak Guest Rewards MC
PSECU: Founder's Visa
U.S. Bank: Cash+ Visa
Wells Fargo: Autograph Visa
Store cards: Kohl's

Next target credit cards: Wells Fargo Bilt Mastercard (probably), Truist Enjoy Travel Visa (maybe)
Message 2 of 20
Remedios
Credit Mentor

Re: Amazon renews credit card relationship with Chase

@FormerCollegeDJ  I can remove the link to the article and we can keep keep this thread in Credit Cards (feel free to add link to existing thread in Credit In The News) 

If you wish to keep the article, I will move the thread and merge it with "who they going with, plz make it not be Chase" one  

 

 

 

 

Message 3 of 20
FormerCollegeDJ
Frequent Contributor

Re: Amazon renews credit card relationship with Chase


@Remedios wrote:

@FormerCollegeDJ  I can remove the link to the article and we can keep keep this thread in Credit Cards (feel free to add link to existing thread in Credit In The News) 

If you wish to keep the article, I will move the thread and merge it with "who they going with, plz make it not be Chase" one  


@Remedios - I'm good either way.  I actually planned on posting it in the thread you mentioned, but I couldn't find it after doing a quick search (probably because Amazon wasn't listed in the title of that thread).  Go ahead and move my post to that thread.

 

My goal was to make sure people were aware of Amazon's and Chase's renewal agreement.

Playing the credit card rewards game since early May 2020.

Current credit cards:
American Express: Hilton Honors
Bank of America: Customized Cash Rewards Visa
Capital One: SavorOne MC
Chase: Amazon Visa, Freedom Unlimited Visa, Freedom Flex MC
Citi: Sears/ThankYou Rewards MC, My Best Buy Visa, Custom Cash MC
Comenity: AAA Travel Advantage Visa
Discover: Cash It
Elan: S&T Bank Max Cash Preferred Visa
FNBO: Amtrak Guest Rewards MC
PSECU: Founder's Visa
U.S. Bank: Cash+ Visa
Wells Fargo: Autograph Visa
Store cards: Kohl's

Next target credit cards: Wells Fargo Bilt Mastercard (probably), Truist Enjoy Travel Visa (maybe)
Message 4 of 20
SouthJamaica
Mega Contributor

Re: Amazon renews credit card relationship with Chase


@FormerCollegeDJ wrote:

I'm a bit surprised I haven't seen this posted here, but according to the following CNBC article, Amazon has decided to renew its credit card agreement with Chase.  Both American Express and Synchrony had negotiated with Amazon, and Mastercard was also hoping to become the new processing network, replacing Visa.  However, Amazon ultimately decided to remain partners with Chase (and retain Visa as the processing network).

 

https://www.cnbc.com/2022/03/31/amazon-prime-amazon-renews-prime-credit-card-pact-with-jpmorgan-afte...


Yay.


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 708 TU 714 EX 715

Message 5 of 20
Ficoproblems247
Valued Contributor

Re: Amazon renews credit card relationship with Chase

Well this solidifies my decision to garden until I'm under 5/24. 





FICO 8 Sep '23 EX 755 EQ 765 TU 739
TCL $199,800
Message 6 of 20
LADave
Established Contributor

Re: Amazon renews credit card relationship with Chase


@Ficoproblems247 wrote:

Well this solidifies my decision to garden until I'm under 5/24. 


This seems like better news for those who already have the card and want to maintain a good banking relationship with Chase, than it does for people who don't have it yet and are 5/24+.

 

I didn't know about 5/24 when I got the card, and I'm just glad I got it before I went over it.

 

Chase has been more leniant about 5/24 with the Amazon/Prime co-branded cards than with their own cards lately, so there may be a chance to get it sooner if you're willing to risk a hard pull.

Message 7 of 20
JR_TX
Valued Contributor

Re: Amazon renews Prime credit card tie-up with JPMorgan Chase after flirting with American Express

Well I hope this doesn't stop Chase's recent SL/CLI generosity now that their partnership is secured. 
This card is in the pipeline for me.

New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 3 EQ 3 TU 4 | AAoA 7y10m | UTIL 1% - 4% | $300K+ Total Limits

Message 8 of 20
CreditAggie
Community Leader
Super Contributor

Re: Amazon renews Prime credit card tie-up with JPMorgan Chase after flirting with American Express

I have to wonder if the recent loosening up of 5/24 and generous CLIs on the Amazon Visa was an effort to renew the agreement. Anyway, I am glad the card is staying with Chase as they have been great in my experience. I refuse to have any card issued by Synchrony Bank and would have combined the Amazon Visa's limit with my CFF if it was to go to Synchrony. I find the uncapped 5% on Amazon to be invaluable.

Current Cards (in order of approval):

         
Current FICO 8 | 9 (June 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 9 of 20
Adkins
Legendary Contributor

Re: Amazon renews Prime credit card tie-up with JPMorgan Chase after flirting with American Express

Excellent! I'd rather not have an unnecessary new account. 


Last HP 08-07-2023



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