Amazon tire-kicking for Chase replacement of CC

[Ficoproblems247]

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@Anonymous wrote:

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@coldfusion wrote:

Apparently Chase is finding that issuing the Amazon Visa isn't sufficiently profitable.

AMEX and Synchrony reportedly have expressed interest,  we all know that Synchrony manages the store card, not as widely known that AMEX already issues the Amazon business card.   Or, perhaps this exercise is a ploy to get a more favorable agreement negotiated.

https://finance.yahoo.com/news/amazon-explores-replacing-jpmorgan-credit-233713777.html

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With 5/24 rule, it no wonder why it not profitable. Chase is cutting out a lot of users by that rule. The whole goal of Amazon is to get many users on board with their credit products.  I am hoping for Synchrony, since they do approve alot of users without an issue. 

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While not as strict on new accounts as Chase, Sync will still shoot someone down for excessive credit seeking too. Keep in mind that the folks on this board are an exception to the norm. Most average card applicants are likely under 5/24. 

[althes]

So how do we feel.

Guess it will be going to Synchrony.

[FormerCollegeDJ]

According to a Reuters article I found, it sounds like at a minimum American Express and Synchrony are bidding on acquiring the portfolio.  Between those two issuers, hopefully Amex gets it!

[manbuckets]

Hopefully it goes to AMEX, either way, it not being affected by 5/24 anymore will be a plus

[Adkins]

A readable article, for context.  

[spiritcraft1]

Good.  Not a fan of Chase.

[calyx]

Well, dang, I'm going to hope for AMEX (since they like me) and I can stop worrying about trying to hit 4/24 to get another card with Chase.

My AU, otoh, will not be pleased if it gets away from Chase (assuming they don't keep grandfathered cards).

(not that I'm not already looking at Affinity's card so slide in with a 5% amazon card anyway).

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[LakeLife]

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@manbuckets wrote:

Hopefully it goes to AMEX, either way, it not being affected by 5/24 anymore will be a plus

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This is my thought too.  It's so frustrating dealing with Chase's strict adherence to 5/24 when hoping to get a branded credit card.  

[gdale6]

So what if its not a profitable card they still make tens of billions a quarter (Chase). Im getting sick and tired of all this maneuvering to squeeze every dime out of people and companies. Glad I dont have any Amazon cards as I refuse to do business with Amazon.

[1GaDawg85]

it would be nice to get this out of Chase's hands and into AMEX. 

Either company has a stake in this as Synch has the store card & AMEX has the business card. Both want the additional rev from having the other card. It might work in Synch's favor by having the store card but we shall see.