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

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Community Leader
Super Contributor

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

@CreditCuriosity, thought you might find this interesting


Scores held down by umpteen INQ & New accounts
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~
Message 11 of 23
Moderator

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


@pizza1 wrote:

@CreditCuriosity, thought you might find this interesting


Saw this awhile ago on another site Smiley Happy

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank
Message 12 of 23
Frequent Contributor

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

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.

Message 13 of 23
Moderator Emeritus

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

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.

Starting Score: 000 Fico
Current Score: 850 Fico EX08EQ08TU08
Goal Score: 850


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Message 14 of 23
Senior Contributor

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


@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. 


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 Smiley Mad

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 15 of 23
Valued Contributor

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


@Dinosaur 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.


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

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 16 of 23
Moderator Emeritus

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


@sjt wrote:

@Dinosaur 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.


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


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

Starting Score: 000 Fico
Current Score: 850 Fico EX08EQ08TU08
Goal Score: 850


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Message 17 of 23
Established Contributor

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

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
AAOA 15 months Fico 08's 714 717 678 11% Utilization
Message 18 of 23
Valued Contributor

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


@depdep8 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

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.

 

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 19 of 23
Established Contributor

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


@Thomas_Thumb wrote:

@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. 


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 Smiley Mad


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 Smiley Happy

Amex PRG (NPSL), Amex Blue Cash ($8K), Amex Simply Cash+ ($4K), Discover ($20.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase CSP Visa Sig($5K), FCB/Elan Rewards Visa Sig($10K), Buckle ($1.3K), BofA AAA Rewards ($65K), Paypal credit ($6.5K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($10K)
Message 20 of 23