AMAZON LOOKING TO DUMP JP MORGAN CHASE & CO AS CREDIT CARD PARTNER

by The Chicago Times Staff

June 9, 2021

NEW YORK – Amazon.com Inc is seeking bids to replace JP Morgan Chase & Co as the issuer on its co-branded credit card portfolio.  The portfolio has received a ‘request for proposal,’ according to an unnamed source.

American Express Co and Synchrony Financial are among those bidding on the portfolio.  Requests for response from the financial firms were not immediately returned.  Amazon and JP Morgan launched their first joint card in 2002, and their services have long been available through the Visa Inc network.

JP Morgan declined to comment.