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Chase is converting some Mastercards to Visa

Old Jan 7, 2015, 7:31 pm
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Last edit by: sdsearch
In post 91, sechs explained that:

Chase is only converting their own branded cards [from MC to Visa]. The IHG card was converted the other way [from Visa to MC]; the AGR card, a Mastercard, is staying that way.
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Chase is converting some Mastercards to Visa

Old Nov 25, 2013, 8:03 am
  #16  
mia
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Originally Posted by UA Fan
I hope my Amtrak MC won't be converted.
Why? Would the card be less useful if it were on VISA network?
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Old Nov 25, 2013, 10:01 am
  #17  
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Originally Posted by mia
Why? Would the card be less useful if it were on VISA network?
I'd like to use it at Sam's club.
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Old Nov 25, 2013, 10:24 am
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Originally Posted by UA Fan
I'd like to use it at Sam's club.
While it would be an additional step, if your MC is converted to Visa, you can purchase Sam's GCs online with the Visa(or any other card) to use in the warehouse.
I do this occasionally with Costco if I need to meet spending limits on cards other than Amex
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Old Nov 25, 2013, 10:32 am
  #19  
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Originally Posted by freeflyin
While it would be an additional step, if your MC is converted to Visa, you can purchase Sam's GCs online with the Visa(or any other card) to use in the warehouse.
I do this occasionally with Costco if I need to meet spending limits on cards other than Amex
Good to know, thanks.
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Old Nov 25, 2013, 8:35 pm
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Received my new Ink Plus card today. And yes, it is a VISA card.
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Old Nov 26, 2013, 9:30 am
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I guess I'm going to have 2 Freedom Visa cards soon. And 1 Ink Cash Visa.
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Old Nov 26, 2013, 1:03 pm
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Mrs tmm received her new Ink Bold the other day and it was also a Visa. I have an Ink Bold MC that I received in June, so perhaps I should look into canceling that one soon in order to apply for the Visa as a new product, before it gets converted automatically....
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Old Nov 26, 2013, 2:19 pm
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Supposedly they are going to warn us before converting. If that's the case, I'll probably wait until they give me a heads up and cancel, then reapply a few months/6 months down the road for the same product and see if I can double up
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Old Dec 22, 2013, 1:00 pm
  #24  
 
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This is sad news. No more Sam's Clubs
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Old Dec 22, 2013, 2:10 pm
  #25  
 
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Obviously, Chase is making more money from the new relationship with Visa than they are losing from cardholders no longer using their cards at Sam's Club.

It would be a pain in the rear to have to order gift cards from samsclub.com before every trip to Sam's Club. I'll just use my Discover at Sam's Club.
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Old Dec 22, 2013, 3:33 pm
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Originally Posted by reader2580
Obviously, Chase is making more money from the new relationship with Visa than they are losing from cardholders no longer using their cards at Sam's Club.

It would be a pain in the rear to have to order gift cards from samsclub.com before every trip to Sam's Club. I'll just use my Discover at Sam's Club.
Exactly. Sad time for me, not them.
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Old Dec 22, 2013, 3:56 pm
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Chase says they are converting ALL Mastercards to Visa

this would suck for me since my vendor only accepts MasterCard and amex. I will have to either find another cc company with MasterCard or go back to amex. I spend 500k a year for my business on the ink bold
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Old Dec 22, 2013, 10:25 pm
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Originally Posted by reader2580
Obviously, Chase is making more money from the new relationship with Visa than they are losing from cardholders no longer using their cards at Sam's Club.

It would be a pain in the rear to have to order gift cards from samsclub.com before every trip to Sam's Club. I'll just use my Discover at Sam's Club.
Visa could fix this by matching Mastercard's discount rate given to Sam's Club. The decision to only accept Mastercard and Discover is, on Sam's Club's part, a way to save money at the expense of convenience to their customers.
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Old Dec 23, 2013, 5:56 am
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Why anyone in this day and age would only accept Mastercard and not Visa too is beyond me. Unless you're a huge company it would hard to find a credit card processor that didn't do both Visa and Mastercard.
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Old Dec 23, 2013, 6:23 am
  #30  
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Originally Posted by reader2580
Why anyone in this day and age would only accept Mastercard and not Visa
I think we will see more of this. When MasterCard and VISA operated as an illegal duopoly the brands were interchangeable, but now they are competitors. They offer banks incentives to issue cards on their network, and some large merchants have made exclusive deals. I expect these programs will begin to filter down to medium size companies in the form of lucrative incentives that they can likely earn only by declining to accept other card brands. (i.e. MasterCard won't stipulate that they cannot accept VISA, but their quota will be set high enough that the only way they can achieve it is to favor MasterCard by declining to accept other cards, -or- by adding a surcharge on other network cards.)
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