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@rgd51, I also currently have the 3% card. I will kick myself for, possibly, not joining Amazon Prime to upgrade to the 5% card if it were to be eventually grandfathered by Chase for those who currently have it. If that were to happen, Chase keeps current Chase Amazon card holders with the Amazon discount, there is no way they could keep the now required Amazon Prime membership for the 5% version, correct?
If it goes to a new lender whether I keep the card or not will depend on if or how badly it gets nerfed. If it gets converted to the synchrony amazon store card I'll just close my chase card before the switch happens and transfer the CL over to my freedom unlimited.
I doubt that Synchrony would be interested in acquiring the portfolio simply to transition cardholders over to the store card.
I think it more likely they would want to put in place a system similar to for example the Macy's cards - if your current financial status warranted it they would offer you your choice of a Visa or a store card, if your status wasn't quite that robust they would consider approving you for only the store card.
@coldfusion wrote:I doubt that Synchrony would be interested in acquiring the portfolio simply to transition cardholders over to the store card.
I think it more likely they would want to put in place a system similar to for example the Macy's cards - if your current financial status warranted it they would offer you your choice of a Visa or a store card, if your status wasn't quite that robust they would consider approving you for only the store card.
It's possible that SYNCB could seamlessly transition the Chase Amazon Visa to a SYNCB Amazon Visa. Which would mirror some current store versions alongside their V/MCs (e.g. BP, Sams Club, At Home, Belk, etc.). So, who knows.
That is, of course, if they end up being the highest bidder, unless Chase plays 'hard to get'. It's happened before -- Chase played 'hard to get' with the Southwest Airlines portfolio at their last renewal and in the end Chase and SWA decided to renew their strategic partnership. But, we shall see what happens.
The Subject line says it all. This rumor is peppered throughout the forums. What is the basis for it and is any of it substantiated?
@kshurika- please reference the discussion upthread.
Has anyone been able to substantiate the Amex rumor?
@rgd51 wrote:Has anyone been able to substantiate the Amex rumor?
I seriously doubt that a decision has been reached this early in the game. I'm betting it's a false rumor.
I read somewheres the contract has like 2-3 years left to go. So i would not expect a speedy decision and clear path out for a long time.
@RootDet wrote:I read somewheres the contract has like 2-3 years left to go. So i would not expect a speedy decision and clear path out for a long time.
If the card does go to Amex how would that appear on my credit reports? Would my chase account be closed and then I'd take a hit for a new account on my credit reports?