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Amazon tire-kicking for Chase replacement of CC

coldfusion
Community Leader
Super Contributor

Amazon tire-kicking for Chase replacement of CC

 

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



(11/2021)
FICO 8 (EX) 806 (TU) 833 (EQ) 827
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Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 1 of 154
153 REPLIES 153
TheBoondocks
Established Contributor

Re: Amazon tire-kicking for Chase replacement of CC

I hope AMEX pick up the business, that way they could have a Amazon card on the personal side. If it goes to Synch, I'm going to close the card...

Message 2 of 154
babygirl1256
Valued Contributor

Re: Amazon tire-kicking for Chase replacement of CC

I agree . . . an AmEx Amazon card would be great!!!

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
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Message 3 of 154
GatorGuy
Established Contributor

Re: Amazon tire-kicking for Chase replacement of CC

Better be Amex..

Message 4 of 154
FinStar
Moderator

Re: Amazon tire-kicking for Chase replacement of CC

Hello Comenity 😜 

 

Very interesting development for sure.

Message 5 of 154
UncleB
Moderator

Re: Amazon tire-kicking for Chase replacement of CC

I just read about this on Bloomberg as well (paywall):  https://www.bloomberg.com/news/articles/2021-06-08/amazon-explores-replacing-jpmorgan-in-credit-card... 

 

I have mixed-feelings about this.🤔

 

I'm content with it being with Chase, although if it goes to another lender that would possibly free up some exposure with Chase for something else in the future (which I might or might not ever actually need). 

 

Going to Amex would be nice, and while not disastrous going to Synchrony would be the worst option.  To be fair my four Synch cards have always served me well, but we all know how Synch can be and I'd prefer to not add to my existing exposure.

 

(I realize this post is "me, me, me..." and others might have very different opinions.)

 

I suspect Amazon uses three different lenders for leverage in situations just like this, in which case there's also an excellent chance the status quo will continue.

Message 6 of 154
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Amazon tire-kicking for Chase replacement of CC


@FinStar wrote:

Hello Comenity 😜 

 

Very interesting development for sure.


We can only hope




Message 7 of 154
Andypanda
Established Contributor

Re: Amazon tire-kicking for Chase replacement of CC

I know it won't happen, but I'd like it if itvwas amex, you could redeem for mr points.

 

 

Message 8 of 154
FinStar
Moderator

Re: Amazon tire-kicking for Chase replacement of CC


@UncleB wrote:

I just read about this on Bloomberg as well (paywall):  https://www.bloomberg.com/news/articles/2021-06-08/amazon-explores-replacing-jpmorgan-in-credit-card... 

 

I have mixed-feelings about this.🤔

 

I'm content with it being with Chase, although if it goes to another lender that would possibly free up some exposure with Chase for something else in the future (which I might or might not ever actually need). 

 

Going to Amex would be nice, and while not disastrous going to Synchrony would be the worst option.  To be fair my four Synch cards have always served me well, but we all know how Synch can be and I'd prefer to not add to my existing exposure.

 

(I realize this post is "me, me, me..." and others might have very different opinions.)

 

I suspect Amazon uses three different lenders for leverage in situations just like this, in which case there's also an excellent chance the status quo will continue.


My thoughts as well.  It's possible Chase will keep existing portfolio but discontinue new applications, or if the highest bidder comes along and 'romances' Chase with a sweeter deal, then it's possible they'll divest the portfolio.  But, who knows 🤷‍♂️

Nonetheless, there's a few multi-lateral partnerships still around (Amazon, American Airlines, United, etc,) which allow some lending options for different folks.

 

Message 9 of 154
yankees992012
New Contributor

Re: Amazon tire-kicking for Chase replacement of CC


@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


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. 

Message 10 of 154
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