Amazon tire-kicking for Chase replacement of CC

[coldfusion]

The Chase account would be closed and a different account would start reporting from the new issuer.  In most cases when the new issuer starts to report the account they continue to use the initial date back to when the original card was first opened, but what would specifically happen here is at this point totally conjecture as we don't even know if the portfolio is being transferred.

[M_Smart007]

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@coldfusion wrote:

The Chase account would be closed and a different account would start reporting from the new issuer.  In most cases when the new issuer starts to report the account they continue to use the initial date back to when the original card was first opened, but what would specifically happen here is at this point totally conjecture as we don't even know if the portfolio is being transferred.

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I 100% agree with @colfusion. We could all speculate what might/will happen?,

I am guilty of that, but we all should just hold our horses until we get some solid news.

The Only thing I did was re-allocate $40K from my Chase Amazon card, until the storm passes.

Just in case a certain lender that is known for AA is out of the equation. (would like to keep my CL with Chase)

It seems to Me Chase is really starting to add a lot of perks to their card. (at least in the short term)

IE: 5% on Gas and Travel for Me (for a limited time).

So I am unsure if they are trying to make the portfolio more profitable?

To many unknowns at this point and time.

[Cashbackjunky]

Hey all,

Sorry if this has been talked about, I tried to do a search but couldn't find much.

Do we know for certain if Chase and Amazon are splitting up? I've heard the grumblings starting in June, I believe, that AmEx and Synchrony were bidding for the business.

My follow-up question is: if Chase and Amazon split, what does that mean for those of us that have the card? Will the account just be shut down, are we grandfathered into it or will the account be 'transferred' to the new issuer?

Thanks in advance and again, sorry if this has been covered.

Cheers!

[Jordan23ww]

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

[SouthJamaica]

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@Cashbackjunky wrote:

Hey all,

Sorry if this has been talked about, I tried to do a search but couldn't find much.

Do we know for certain if Chase and Amazon are splitting up? I've heard the grumblings starting in June, I believe, that AmEx and Synchrony were bidding for the business.

My follow-up question is: if Chase and Amazon split, what does that mean for those of us that have the card? Will the account just be shut down, are we grandfathered into it or will the account be 'transferred' to the new issuer?

Thanks in advance and again, sorry if this has been covered.

Cheers!

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No we don't know if they are splitting up.

Neither do we know how it will play out if it does come to pass.

[Cashbackjunky]

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@Jordan23ww wrote:

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

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Thanks for the input. I'm now wondering, if I'm switched to the new issuer, does that register as a new account on my file?

I've opened 2 new accounts recently. If a new issuer is agreed upon and I'm automatically transferred to that issuer, will my credit file look as though I've opened 3 new accounts recently and closed the Chase Amazon account?

Apologies if this is an obvious answer.

[Jordan23ww]

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@Cashbackjunky wrote:

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@Jordan23ww wrote:

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

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Thanks for the input. I'm now wondering, if I'm switched to the new issuer, does that register as a new account on my file?

I've opened 2 new accounts recently. If a new issuer is agreed upon and I'm automatically transferred to that issuer, will my credit file look as though I've opened 3 new accounts recently and closed the Chase Amazon account?

Apologies if this is an obvious answer.

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@Cashbackjunky you're welcome! In the case of my Best Buy card there was no listing on my reports as a new card being opened. The card history is treated as 1 card opened and all the years since I first was approved is included in the age of both cards.  Hopefully if a change is made down the road to the Amazon cards by Chase they will do the same. 

[rgd51]

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@Jordan23ww wrote:

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@Cashbackjunky wrote:

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@Jordan23ww wrote:

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

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Thanks for the input. I'm now wondering, if I'm switched to the new issuer, does that register as a new account on my file?

I've opened 2 new accounts recently. If a new issuer is agreed upon and I'm automatically transferred to that issuer, will my credit file look as though I've opened 3 new accounts recently and closed the Chase Amazon account?

Apologies if this is an obvious answer.

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@Cashbackjunky you're welcome! In the case of my Best Buy card there was no listing on my reports as a new card being opened. The card history is treated as 1 card opened and all the years since I first was approved is included in the age of both cards.  Hopefully if a change is made down the road to the Amazon cards by Chase they will do the same. 

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Is there a reason why it would show up as a new account? I currently have the non prime version but I'm considering signing up for prime but was going to hold off until I find out what happens with the chase card. Amazon I'm sure has enough money to do it in house like Sinclair does with card.

[FinStar]

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@rgd51 wrote:

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@Jordan23ww wrote:

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@Cashbackjunky wrote:

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@Jordan23ww wrote:

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

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Thanks for the input. I'm now wondering, if I'm switched to the new issuer, does that register as a new account on my file?

I've opened 2 new accounts recently. If a new issuer is agreed upon and I'm automatically transferred to that issuer, will my credit file look as though I've opened 3 new accounts recently and closed the Chase Amazon account?

Apologies if this is an obvious answer.

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@Cashbackjunky you're welcome! In the case of my Best Buy card there was no listing on my reports as a new card being opened. The card history is treated as 1 card opened and all the years since I first was approved is included in the age of both cards.  Hopefully if a change is made down the road to the Amazon cards by Chase they will do the same. 

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Is there a reason why it would show up as a new account? I currently have the non prime version but I'm considering signing up for prime but was going to hold off until I find out what happens with the chase card. Amazon I'm sure has enough money to do it in house like Sinclair does with card.

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At this point everything is still very speculative.  Nothing has been officially announced on what will happen with the existing Chase Amazon portfolio.

As far as new accounts are concerned, there are instances in which lenders will show a separate tradeline on the credit reports with "Closed/Transferred" remarks with the original history.  Acquiring lenders have been known to display their own tradeline with the backdated history of the account.  This has happened many times with a variety of lenders.

So, the best thing to do at this moment, is wait until things unfold or new details emerge surrounding the intial news release.  Is AmEx going to be the new issuer or the personal version?  We don't know.  Is SYNCB going to be the new issuer?  Don't know that either.  Are there other players vying for potential bidding?  Potentially.  Is Chase going to renew or re-negotiate its terms or partnership?  That isn't known except for senior executives and in the board rooms.

[FalconSteve]

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@Cashbackjunky wrote:

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@Jordan23ww wrote:

I haven't seen any updates about if the split is happening/ who will get it. That said I think if Chase loses it the accounts will just be transferred to the new card issuer without us having to do anything. For example I've had my 2 Best Buy cards for almost 14 years. In that time span the card has been switched to multiple users. It started out with HSBC, and moved on to Chase, Capital One and now Citi. I imagine the same will happen with this card too. 

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Thanks for the input. I'm now wondering, if I'm switched to the new issuer, does that register as a new account on my file?

I've opened 2 new accounts recently. If a new issuer is agreed upon and I'm automatically transferred to that issuer, will my credit file look as though I've opened 3 new accounts recently and closed the Chase Amazon account?

Apologies if this is an obvious answer.

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When Costco cards went from AmEx to Citi, they used the original opening date, so it did not count as a new account.