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Hoping to get input from those my knowledgeable than myself in regard to what could happen to my existing Chas Amazon Account, if this change happens...
I had to do a settlement with Chase about ten years ago. With Chase having a LONG memory, it took a long time for me to get back in the door with them. I was approved for the Chase Amazon about 7 or 8 months ago and have treated the card very well - although I may be an example of Chase not making much money on the account as I have not paid even a penny in interest. I am just wondering if the Amazon business went elsewhere, would I likely then have no relationship any longer with Chase, or would they convert the account to another one of their products? I know Chase is far from perfect and disliked by many, however ideally I would still like to have at least one account with them to be back in the door successfully.
Thoughts? Thanks!
@EW800 wrote:Hoping to get input from those my knowledgeable than myself in regard to what could happen to my existing Chas Amazon Account, if this change happens...
I had to do a settlement with Chase about ten years ago. With Chase having a LONG memory, it took a long time for me to get back in the door with them. I was approved for the Chase Amazon about 7 or 8 months ago and have treated the card very well - although I may be an example of Chase not making much money on the account as I have not paid even a penny in interest. I am just wondering if the Amazon business went elsewhere, would I likely then have no relationship any longer with Chase, or would they convert the account to another one of their products? I know Chase is far from perfect and disliked by many, however ideally I would still like to have at least one account with them to be back in the door successfully.
Thoughts? Thanks!
If (again a big *if* since nothing is concrete or official) the Chaee Amazon portfolio is sold, then that credit card relationship is no longer available. For accounts in good standing, Chase typically retains the record of the account until purged (i.e. once the transition has been finalized).
Using the AARP portfolio currently in transition (Chase -> Barclays) as an example, there were no options provided to existing Chase customers for selecting another CC product. I would imagine, the same would happen if Chase exits the Amazon CC relationship altogether, but there are still a lot of known unknowns. Best to just wait and see how things will pan out.
RFP = Request for Proposal. A public solicitation for bids.
Dont write anyone off on this. You can bet there are more than Amex and Sync bidding for this, they just haven't publisized it.
I wonder how those who are blacklisted by Amex will fare if Amex gets the portfolio?
My guess is something like the card would be converted over but they would remain ineligible at least for a period of time to be approved for any additional cards. I'm sure this was a senario that occurred when Amex took over the Citi Hilton portfolio, but I don't know if anyone impacted by that portfolio conversion was denied an AMEX card.
So I keep reading that Chase is willing to give up the huge Amazon Prime portfolio if Amazon partners with another lender for it.
My question is, what will happen to my card then? Will I lose my connection with Chase altogether and just get transferred to whoever gets the portfolio next? Will I be given a choice to choose another Chase card?
I mean Chase did two hard pulls for this card and I would hate to have nothing with them in the future and still have to deal with these two hard pulls for 2 years.
Can anybody explain how this will go down if it happens.
@Crowhelm wrote:So I keep reading that Chase is willing to give up the huge Amazon Prime portfolio if Amazon partners with another lender for it.
My question is, what will happen to my card then? Will I lose my connection with Chase altogether and just get transferred to whoever gets the portfolio next? Will I be given a choice to choose another Chase card?
I mean Chase did two hard pulls for this card and I would hate to have nothing with them in the future and still have to deal with these two hard pulls for 2 years.
Can anybody explain how this will go down if it happens.
You wont be able to PC to another Chase card and if you dont have any other Chase cards then you would lose your connection with Chase when the new lender takes over the portfolio. The hard pulls will still remain onfile as they are legit you asked for the card and got it so if it transfers to another lender the new lender is not going to be hard pulling you on the transfer.
@gdale6 wrote:
@Crowhelm wrote:So I keep reading that Chase is willing to give up the huge Amazon Prime portfolio if Amazon partners with another lender for it.
My question is, what will happen to my card then? Will I lose my connection with Chase altogether and just get transferred to whoever gets the portfolio next? Will I be given a choice to choose another Chase card?
I mean Chase did two hard pulls for this card and I would hate to have nothing with them in the future and still have to deal with these two hard pulls for 2 years.
Can anybody explain how this will go down if it happens.
You wont be able to PC to another Chase card and if you dont have any other Chase cards then you would lose your connection with Chase when the new lender takes over the portfolio. The hard pulls will still remain onfile as they are legit you asked for the card and got it so if it transfers to another lender the new lender is not going to be hard pulling you on the transfer.
Well, that sucks. You would think Chase would at least try to hold on to good solid customers. Well, lets hope it won't happen or at least not any time soon.
@NoMoreE46 wrote:They are not specifically mentioned, but I wouldn't rule out CapOne as a strong contender.
OMG, I hope not
@blindambition wrote:I wouldn't mind Amex, but won't hold another Synchrony. I'd apply for Affinity FCU to cover Amazon.
If it went to Synchrony, I'd close card, and possibly reallocate the maximum limits if possible.
Yeah, I would do the same.
Most likely your card would be grandfathered. Nothing would change. But they would stop accepting new applications. If you wanted a new account you would have to apply to the new bank. This happened to me before with American Airlines and Barclay Bank.
Frankly, I never use this card except with the Amazon 5% cashback bonus. Hard to see how Chase makes a profit unless you always carry a balance.