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  1. #1
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    Default Chase and MasterCard

    So I have read rumors on a few forums about how Chase will be systematically re-issuing MasterCard's as Visa's. I had no reason to doubt people but yeah, I wanted to find out for myself.

    I sent them a message online asking if my worthless Slate MasterCard could be changed to a Freedom but that I wanted to keep my account number and MasterCard network the same.

    They responded that my account was eligible but unfortunately it would be changed to a Visa; and a regular Visa at that, not Signature. How rude!

    The rep also confirmed that

    "Furthermore, as part of our expanded relationship with
    Visa, MasterCard credit and debit cards are currently
    being replaced with Visa cards. However, I am pleased to
    inform you that your Slate credit card is not currently
    being replaced by a Visa card at this time. Should this
    change in the future, you will be notified in advance."

    I love those standard responses. My card expires next May so it will be interesting to see if I get a Visa by that time.

    MasterCard's are beginning to be slim pickings; I hope that they try to stave off becoming extinct from the prime banks. I really liked my Chase MasterCard because it was a real Chase Manhattan account number and not this hidden-behind-the-scenes-First USA-Chase that it is now. Oh well, nothing stays the same.
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  2. #2
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    This kinda sucks because I actually just switched my Freedom from a Visa to a Mastercard....
    March 2011- Wellsfargo Cash Back College Card
    May 2012- Chase Freedom
    May 2012- Discover IT
    August 2012- American Express Blue Cash Everyday
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  3. #3
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    Quote Originally Posted by 432521 View Post
    This kinda sucks because I actually just switched my Freedom from a Visa to a Mastercard....
    Why did you switch to a MC?
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    Quote Originally Posted by DavidNY View Post
    Why did you switch to a MC?
    I originally wanted the MC version but didn't realize that you had to apply through the MC website to get it. I waited a year and changed it, also I already have a Visa CC so that was a reason as well.
    March 2011- Wellsfargo Cash Back College Card
    May 2012- Chase Freedom
    May 2012- Discover IT
    August 2012- American Express Blue Cash Everyday
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  5. #5
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    Quote Originally Posted by 432521 View Post
    This kinda sucks because I actually just switched my Freedom from a Visa to a Mastercard....
    I know. They offered the upgrade to Freedom last year and I didn't take it. Now, if I want Freedom it has to switch to a Visa. But it sounds like the Visa is inevitable. Some reports indicate that when your current MasterCard expires, it will be replaced with the Visa....as if the world didn't have enough Visa cards...
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  6. #6
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    It does seem to be a trend that Mastercard pickings are getting slimmer and slimmer. Unless the trend gets reversed, it seems there won't be many of them around anymore pretty soon.

    You would think Mastercard would realize that and offer the banks better margins than Visa to compete but maybe there is more to it than that.
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  7. #7
    Centurion Member djrez4's Avatar
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    Barclays is a Mastercard only issuer. So is USAA.

    Mastercard also tends to be much more prevalent outside of the US. National Bank of Canada and BMO only issue Mastercards. RBC is split 50-50. RBS Scotland is 100% MC.

    It's nice that you all worry, but Mastercard is going to be just fine.
    - Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -
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    Default

    It's not that Mastercards have just vanished. But Chase is one of the biggest card lenders (if not THE biggest) and having them going exclusively with Visa is a big deal. From a practical standpoint, it's probably not going to be that huge a hit on the Mastercard network since Chase has been biasing themselves toward Visa cards with new customers for years now. And the Chase/Visa thing is a big deal in forums like here and elsewhere since Chase is one of the most popular card lenders.

    I carry a rare Chase Freedom Mastercard that was upgraded this year from the original Slate Mastercard my wife had been carrying for 15 years. At some point in the next 90 days or so I expect them to send out a Visa Signature to replace it. But I'll let them do it when they feel they have to. The other Chase card I carry (a CSP) is already a Visa.

    As mentioned above, Barclays and USAA do Mastercard exclusively. BofA still offers Mastercard products (they will be my sole Mastercard after the Chase switch). And others do as well.

    My only other card moves of late are EMV upgrades...I've asked for chipped versions of my Amex BCP, Fidelity Amex and CSP cards, all of which will arrive next week. That leaves my US Bank Cash +, Chase Freedom and Discover IT cards with the only ones without the added security feature.
    Cards:
    American Express Platinum (NPSL)
    Penfed Platinum Reward Visa ($28K)
    Chase Freedom Visa ($25K)
    Fidelity American Express ($20K)
    American Express Blue Cash Preferred ($20K)
    Bank of America Cash Rewards MasterCard ($20K)
    Citi Thank You Preferred Visa ($9.5K)
    Chase Sapphire Preferred ($7.5K)
    US Bank Cash + Visa Signature ($7K)
    Discover IT ($4K)
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  9. #9
    Centurion Member ncosky290's Avatar
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    Actually By Barclaycard is a Visa...
    "Learn from the past, set vivid, detailed goals for the future, and live in the
    only moment of time over which you have any control: now."

    Denis Waitley

    American Express BCE - American Express Green - Amazon Rewards Visa - Barclaycard Arrival Plus World Elite MasterCard
    Capital One GM Card - Chase Sapphire Preferred Visa Signature - Clearview Credit Union Rewards Visa
    Discover IT - Huntington Voice World MasterCard
    Credit Lines $80.9k

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  10. #10
    Centurion Member djrez4's Avatar
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    Quote Originally Posted by ncosky290 View Post
    Actually By Barclaycard is a Visa...
    Sorry - you're correct. Barclay does issue some Visas. Out of 34 cards issued, 12 are Visa and one is Amex.

    I think the point remains valid.
    - Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -
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