Rogue

That my friend was the primary purpose of the Discover acquisition, the Discover payment network was the crown jewel that CrapOne lusted for! And the acquisition of the Discover network instantly flipped VISA and MasterCard from key strategic partners to CrapOne's biggest competitors! So why would CrapOne issue ANY card on rival networks that are now their primary competitors? All CrapOne Debit Cards are now Discover turds and I highly doubt that within the next 12-18 months there will be any remaining CrapOne VISA's or MasterCard's. I also suspect that CrapOne is slow rolling the conversions so that they can accurately gauge customer backlash and formulate some retention policies based upon their empirical customer outrage data due to the card conversions.

The next step is approval of the merger by First Tech members as the combined credit union will adopt DCU's credit union charter. Interesting move, curios why First Tech is going to adopt the DCU charter?

I was helping my parents with some financial issues last week and they show me a letter from Synchrony dated March 10, 2025. And it stated that all Chevron gas charge cards are going to 33.99% APR effective May 9, 2025. I actually thought this was a typo or April Fool's Day joke at first! This is my parent's oldest card with 6+ decades of age, so I have always told them not to close it, I know there are better options for purchasing gas, however they barely buy one tank a month and always PIF before their statement cuts, so I am not going to have them change their routine and both of their FICO's are 800+ today. This card was originally issued by Chevron U.S.A. thru their wholly owned subsidiary Chevron Credit Bank, N.A. but the card portfolio was unfortunately sold to GE Money Bank, N.A. back in December/2007. Then GE Money Bank (GEMB) changed their name to GE Capital Retail Bank (GECRB) in October/2011. And finally, GE Capital Retail Bank (GECRB) changed their name to Synchrony Bank in June/2014 with GE Capital spinning off Synchrony Financial with an IPO the following month, and here we are today. I do have to say that Synchrony has been a nightmare to deal with for my parents, constant issues and problems with them and their websites! The only reason this card has survived is the age! My parents have no other Synchrony cards, and I have never had one other than being an AU on this card since I was in college. After all the issues my parents have had with Synchrony, I would never ever apply for one of their products or cards! So, as a gas card, the APR on this card has always been absurdly high and my parents never pay interest, but this card going to 33.99% is just insane, especially since the cost of funds to Synchrony probably averages somewhere between 1-4% today. The APR structure on this card use to be tiered based upon "creditworthiness" and rates were calculated based upon a Margin + Prime Rate. Then in September/2022, Synchrony blew-up their entire APR structure and ALL cards were charged a flat 29.99% APR with no more tiers and no more Margin + Prime Rate! After this change, as the Prime Rate fell, this card remained at 29.99% resulting in de facto rate increases. This structure is remaining in place; however, the current flat rate APR is now going from 29.99% (which use to be the card default rate) to an insane 33.99%. Regardless of the APR, I would never recommend any Synchrony card and will never apply for one! And the Credit 101 lesson of the day here is always PIF!

Just don't forget how "quirky" FNBO can be, at least their CSR's are based in the USA and have a fluent command of the English language!

Should we ask Hege to start a GoFundMe?

Hege - Please let us know what kind of limit you get.....

BofA lost the AAA VISA portfolio, and the cards are now issued by Comenity, LOL!!! AAA Credit Card AAA Daily Advantage and AAA Travel Advantage Visa Signature® Credit Card Accounts are issued by Comenity Capital Bank pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association and used under license.

The sunshine helps mitigate the Monkeypox....

More news in regard to PotO's favorite bank Synchrony!! My parents have had a Chevron gas card (Not the VISA) forever, like since IKE was president, literally. I have been an AU since my college days in case I ever needed gas in a pinch back then, but have never used the card and just keep it for the massive age. Unfortunately, Chevron USA sold their entire consumer credit card portfolio to GEMB back in 2007 and they eventually devolved into Synchrony, My parents have 800+ FICO 8 scores across all CRA's. These days my parents purchase very little gas, especially at these prices, but they always PIF prior to their statement date. No real problems with Synchrony other than their horrendous customer service, which they try to avoid, but has been an issue since they launched a new website in March of 2021. Tons of glitches and problems, some still ongoing however that is not the purpose of this post. So last week my parents hand me their July & August statements and ask me about all of the "Important Changes to Your Account Terms" detailed in both statements. Holy Cr@p! Here is a brief synopsis of ALL the card changes listed in these two statements: 1) Late fees increasing to $29 for first late, then $40 each additional offense. 2) Adding a NEW "Returned Payment Fee" of $29 regardless of the reason for the rejection. 3) Adding a NEW minimum interest charge of $2 for any billing cycle in which you owe interest. 4) Increasing the total minimum payment due with a new calculation formula. 5) Purchase APR will NO longer be Prime Rate plus a margin. Thus the APR will no longer vary with the market, it is now fixed at 29.99% APR!! All of the above changes are effective 09/09/2022 and will not impact my parents as they always PIF but wanted to post this info in case anyone even dares to think they should ever carry even the smallest of balances on a Chevron card! I know there are better options for my parents' fuel needs and will try to transition them to another card, while keeping their Chevron card open due to its age. And finally, Synchrony is now also adding an arbitration provision to their account terms. This can be rejected if a signed and mailed letter is physically sent specifically rejecting the arbitration provision and is received within 45 days of receiving said notice of this change. I told my parents to reject the arbitration provision and to send the letter unless CB can convince me to do otherwise.

Let us know what CL you get from them Hege!

Just a reminder!! They LAST day to request a CLI from U.S. Bank for the REI World Elite MasterCard is June 30th!! For further information regarding the transfer of REI cards from U.S. Bank to Crap One see below: REI | Capital One - Get ready for a new card and rewards that go further

FTFY!

My only dealings with U.S. Bank involve my REI World Elite MasterCard, however I only use it at REI. As most of you know, U.S. Bank is "quirky" to say the least and I had a couple of questions for them to see if they had yet entered the 21st century. Then I got wind that all new applications for the REI card have been suspended until August! REI Co-op World Elite Mastercard® | Home (reimastercard.com) We apologize for the inconvenience, but applications for the REI Co-op Mastercard are currently unavailable. Please check back in August. This motivated me to call as something was obviously going on and I assumed the portfolio was either being sold to another bank or the agreement with REI was expiring and a different lender won the account due to the fact that all new applications were suspended. This was not a mere change of card benefits. So, I called U.S. Bank! Let me begin with addressing just U.S. Bank issues. You still can't add 2FA to your account logins or add a Security Password to your profile for use when you call them. When you do call, they will still ask for your zip code, Blood Type, etc. But rest assured, U.S. Bank makes your account security a priority, LOL! There is still NO PC of credit cards, even cards in the same family (i.e., Altitude GO, Altitude Connect, Altitude Reserve) and there is NO re-allocation of credit limits between any cards! I also asked if there are any plans to offer a real FICO Score when we login? Nope again! Now I have a PIN for ALL of my credit cards and can use my cards and PIN's to make payments at ATM's on the very rare occasion where this is my best option. That is except for U.S. Bank! I can us my REI card and PIN to get a cash advance at an ATM (never would), however I can't make a payment, even at a U.S. Bank branch ATM! For that I would have to open a U.S. Bank account and do a transfer from that account to my credit card, hard pass, no thanks! Okay, now on to the REI card not currently accepting applications? Exclaimed how I had been referring REI members to this card but that they could not apply, LOL! I straight out asked if the REI credit card portfolio had been sold to another bank or if U.S. Bank had lost the account and the card portfolio was being transferred to another bank as those were the only two scenarios that made sense to me in light of suspending new card applications, This really caught the CSR off-guard and he really stammered a bit, told me there was a change to the card pending, he is aware of the change but could not disclose the info! However an email would be sent with the announcement on June 11th. Sure enough, I did receive that email this weekend and.......Crap One will now be the new issuer of the REI MasterCard effective 08/05/2022. Yeah, just great. I have avoided Crap One my entire life and now here I am, BARF! This prompted a subsequent call to U.S. Bank! Since the email did not clarify what happened, I asked. The REI credit card portfolio was NOT sold, the agreement was up for renewal and REI selected Crap One! Sounds like the REI board has spent a bit too much time outdoors in the sun! My questions continued, in light of this change I asked, if I got another U.S. Bank card right now, could I re-allocate some of my REI CL to the new card or even just PC my REI card? Still a big NO and effective July 1st, there will be NO more CLI's on REI cards from U.S. Bank! Now I currently have a $35K limit on my REI card and have been considering the Altitude Reserve card, however I didn't want to get stuck like CV did, where he had big limits stuck on useless U.S. Bank cards and subsequently received a weak CL on a new Altitude Reserve card due to existing limits on other U.S. Bank cards with NO ability to re-allocate those limits. The apparent silver lining for me here is that Crap One will further diversify the lenders in my credit card portfolio, granted it's with a sub-prime lender and the fact that I will soon have zero CL's with U.S. Bank and can then app the Altitude Reserve knowing that existing CL's will no longer inhibit my initial CL approval while also having a solid history with U.S. Bank hopefully helping with the approval process. I guess my best strategy here is to try and max the CL on my REI card before it transfers to Crap One and once that is complete, go ahead and app the Altitude Reserve. Any input here would be appreciated as I have absolutely no experience in dealing with Crap One!