What typically happens when credit cards/companies part ways?

[CalDisneyMomof2]

What will happen with my card? With my credit? Will I automatically be enrolled in new card? I'm asking because I just got the JetBlue card in October and their contract ends at the end of this year. They're said to be changing to Barclays which I'm not upset about. However, how does this all work out for me?

I still have some time but I just want to make sure I don't close the card to prevent them from charging the annual fee too early if it's done automatically. Does that even make sense?

 

[Angrypenguin]

The quick answer is...it depends.

A good example is the US Airways card (issued by Barclays). With the US Airways / American Airlines merger, the US Airways mastercards will be phased out, as Citibank is the one with the contract to issue out AA miles. New applicants for the US Airways cards will not be allowed, but current card holders are being switched to a new unique AA/US card issued by Barclays.

I'm guessing as the time gets closer, you'll probably be issued a new card from the new bank.

 

[tvguy]

When Montgomery Wards went bankrupt, GE Credit bought their credit card accounts. If you had a balance, you now owed the money to GE Credit and your "account" remained open until the balance was paid off. If you had zero balance, since there was no business to use the card at anymore, the account was closed. My account was closed. But checking, it appears there are some people STILL paying off balances today, and it's been 15 years since they could charge anything. That's scary. And it appears GE does not report your payments to any credit bureau.....they only report you if you get behind.!

 

[DisneyNutMary]

When BJs Wholesale Club switched from Barclay's Bank to Comenity Bank, I was sent a notice in advance that a switch would happen, then about a few weeks before the switch I got a card from the new bank in the mail, and my first bill after the switch came from the new bank, with my balance intact, just moved over.
It was odd, because one day the old card worked, and the next, it didn't. The old bank also paid out all owed rewards payments, and the new card started earning rewards from zero up on the day it went live.

I liked Barclay's Bank. I don't have a JetBlue cars now, but I would certainly consider it if they moved to Barclay's Bank.

 

[CalDisneyMomof2]

Thanks for the responses. I guess I'll wait and see what happens. I got a survey offer for the new JetBlue card a few weeks ago. They asked about a lot of scenarios with the new card and how I'd like it to work. I hope they take the responses seriously! Hope to hear something soon.

 

[CalDisneyMomof2]

Sorry to bring back an old thread but I didn't want to start another. My anniversary will be in October. I'm assuming they will still charge the annual fee even though the card will be changing over to Barclay's in January. It is safe to assume this?

Would the best thing to do just be to close the card in September? We want to fly Jetblue to Seattle next July or August (for an Alaskan cruise) but not sure if flights will be released by then.

I will also assume I can reapply for the new card and hopefully get a nice introductory bonus. I'm thinking nothing from Jetblue about changing my card will come until AFTER my anniversary date in October

Anyone else have the card? What are you going to do?

 

[Eighty8Keys]

I signed up for the JetBlue card a month ago to get the 20k miles bonus. I plan to keep it until December when I'll close the account. Then I'll wait to see what Barclays offers with the new card and hopefully collect a 2nd bonus.