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Amazon tire-kicking for Chase replacement of CC

Ficoproblems247
Valued Contributor

Re: Amazon tire-kicking for Chase replacement of CC


@yankees992012 wrote:

@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. 


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. 




FICO 8 Nov '21 EX 749 EQ 739 TU 736
Message 11 of 154
althes
Frequent Contributor

Amazon Visa will no longer be issued by Chase

So how do we feel.

Guess it will be going to Synchrony.

 

Message 12 of 154
FormerCollegeDJ
Regular Contributor

Re: Amazon Visa will no longer be issued by Chase

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!

Playing the credit card rewards game since early May 2020.

Current credit cards:
*Discover Cash It, 10/5/94, $10,000 CL
*American Express Hilton Honors, 9/23/96, $16,500 CL
*Kohl's store card, 7/31/00, $2500 CL
*Chase Amazon Rewards Visa, 10/29/06, $11,000 CL
*Citi Sears/Thank You Rewards Mastercard, 9/19/09, $2001 CL (LOL)
*Citi My Best Buy Visa, 12/29/11, $4600 CL
*Bank of America Amtrak Guest Rewards Platinum Mastercard, 10/17/15, $15,000 CL
*Bank of America AAA Member Rewards Visa, 3/9/17, $15,000 CL
*Chase Freedom Unlimited Visa, 6/29/20, $11,000 CL
*Chase Freedom Flex Mastercard, 11/9/20, $9900 CL
*Capital One SavorOne Mastercard, 3/30/21, $10,000 CL
*Wells Fargo Propel American Express, 4/11/21, $10,000 CL

Next target credit cards:
*US Bank Cash+ Visa
*Wells Fargo Active Cash Visa, PSECU Founder's Card Visa, or Chase Sapphire Preferred Visa
*Citi Custom Cash Mastercard
*Elan Financial Services Max Cash Preferred (S&T Bank Visa version)
Message 13 of 154
manbuckets
Regular Contributor

Re: Amazon Visa will no longer be issued by Chase

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

Current Cards/Loans:
Future Cards:
Message 14 of 154
Adkins
Mega Contributor

Re: Amazon Visa will no longer be issued by Chase

A readable article, for context.  

 

 

Last HP 08-24-2021



Message 15 of 154
spiritcraft1
Valued Contributor

Re: Amazon Visa will no longer be issued by Chase

Good.  Not a fan of Chase.


|Biz | AU

Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = High 300's - Low 400's
8-1-18 -
Current F08 -
Current 2,4,5 -
Current F09 -

No PG Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, Citi Tractor Supply Rev .8k, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k
Message 16 of 154
calyx
Super Contributor

Re: Amazon tire-kicking for Chase replacement of CC

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).


F8 EQ: 804 | EX: 781 | TU: 782 | Accounts: 2/6 3/12 7/24 | Reporting: AZE10
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 17 of 154
RobertJ
Established Contributor

Re: Amazon Visa will no longer be issued by Chase


@manbuckets wrote:

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


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.  



Message 18 of 154
gdale6
Moderator

Re: Amazon tire-kicking for Chase replacement of CC

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.

Message 19 of 154
1GaDawg85
Valued Contributor

Re: Amazon tire-kicking for Chase replacement of CC

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. 



FICO 5 ,4, 2 - 9/2021

FICO 8 - 9/2021

FICO 9 - 9/2021
Message 20 of 154
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