Elan (Fidelity/CU/small bank cards) to be sold

[pizza1]

@CreditCuriosity, thought you might find this interesting

[CreditCuriosity]

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@pizza1 wrote:

@CreditCuriosity, thought you might find this interesting

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Saw this awhile ago on another site

[minski]

Was curious about what happened with this news and found this follow up article:

https://www.bankingtech.com/2018/09/us-paytech-elan-sold-to-fiserv-for-690m/

And this:

This deal, however, does not include the Elan credit card issuing and corporate payments businesses, which are also US Bancorp units.

So I guess that those of us with Elan credit cards are still stuck with US Bank. Does this mean that the Elan credit cards are still "Elan" or other? Just wondering.

[Anonymous]

By Patrick Rehkamp  – Data Reporter, Minneapolis / St. Paul Business Journal

Sep 25, 2018, 12:03pm CDT Updated Sep 26, 2018, 11:53am

U.S. Bancorp is selling its third-party ATM and debit card business to Fiserv Inc. for $690 million. Specifically, U.S. Bank is unloading its business line, Elan Financial Services, that provides and issues debit cards and ATM machines for other banks. U.S. Bank will continue to provide and issue its own debit cards and ATM machines for its customers. The deal is expected to close in the fourth quarter of this year.

[Thomas_Thumb]

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@minski wrote:

If Elan is bought by another company, does that company have an agreement with Fidelity to continue issuing Fidelity cards? Or will all the Fidelity Visa cards be disassociated with Fidelity and we have a new log in to add to our list? Or is this the question of the day? Just curious because I'd been thinking of canceling my card but may wait and see what the change might bring. 

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No new log on for those of us with Fidelity rewards Visa signature cards. However, there has been a change in how CLI requests are processed. It used to be CLIs could be HP or SP and only one bureau was pulled (TransUnion). Now, according to a CSR I spoke with earlier today, all CLI requests are automatic HP and all three CBs will be pulled 

[sjt]

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@Anonymous wrote:

By Patrick Rehkamp  – Data Reporter, Minneapolis / St. Paul Business Journal

Sep 25, 2018, 12:03pm CDT Updated Sep 26, 2018, 11:53am

U.S. Bancorp is selling its third-party ATM and debit card business to Fiserv Inc. for $690 million. Specifically, U.S. Bank is unloading its business line, Elan Financial Services, that provides and issues debit cards and ATM machines for other banks. U.S. Bank will continue to provide and issue its own debit cards and ATM machines for its customers. The deal is expected to close in the fourth quarter of this year.

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I wonder if they will roll the Elan issued credit cards into US Bank.

[Anonymous]

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@sjt wrote:

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@Anonymous wrote:

By Patrick Rehkamp  – Data Reporter, Minneapolis / St. Paul Business Journal

Sep 25, 2018, 12:03pm CDT Updated Sep 26, 2018, 11:53am

U.S. Bancorp is selling its third-party ATM and debit card business to Fiserv Inc. for $690 million. Specifically, U.S. Bank is unloading its business line, Elan Financial Services, that provides and issues debit cards and ATM machines for other banks. U.S. Bank will continue to provide and issue its own debit cards and ATM machines for its customers. The deal is expected to close in the fourth quarter of this year.

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I wonder if they will roll the Elan issued credit cards into US Bank.

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You pose an interesting question? What will happen to the Elan Credit Card portfolio? In my travels no such information was offered.

[Anonymous]

I have a card that issued by Elan and holds the name Elan on the front. I wonder what will happen to it? Elan kept the account open after my bank merged with another and no longer held contracts with Elan to service cards

[sjt]

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@Anonymous wrote:
I have a card that issued by Elan and holds the name Elan on the front. I wonder what will happen to it? Elan kept the account open after my bank merged with another and no longer held contracts with Elan to service cards

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It will remain an Elan Card unless they sell their credit card porfolio, then it will be whatever bank  took over. My guess is that Elan will be rolled into US Bank.

[ChargedUp]

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@Thomas_Thumb wrote:

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@minski wrote:

If Elan is bought by another company, does that company have an agreement with Fidelity to continue issuing Fidelity cards? Or will all the Fidelity Visa cards be disassociated with Fidelity and we have a new log in to add to our list? Or is this the question of the day? Just curious because I'd been thinking of canceling my card but may wait and see what the change might bring. 

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No new log on for those of us with Fidelity rewards Visa signature cards. However, there has been a change in how CLI requests are processed. It used to be CLIs could be HP or SP and only one bureau was pulled (TransUnion). Now, according to a CSR I spoke with earlier today, all CLI requests are automatic HP and all three CBs will be pulled 

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FWIW, I just received an auto $5000->$7500 auto CLI on my Elan backed Florida Community Bank Rewards Visa. (I barely used that card, maybe putting $1K through it in 2 years.) I put a large Costco trip on it as a "Thank You!" to Elan