AMC launched a credit card with Celtic Bank in 2023. Cardholders have been sent out an e-mail to current cardholders informing them that the credit card has been discontinued:
Our card program partner was recently acquired. As a result of that transition, they are no longer supporting co-branded credit cards like ours. Accordingly, as of now, your card has been suspended from making new purchases.
This is no huge loss as the card wasn’t very useful with the following earning rates:
- 50x points per $1 spent at AMC Theatres
- 20x points per $1 spent on gas, dining, groceries
- 10x points per $1 spent on gas, dining, groceries
And 5,000 points = $5.
So 5% cashback on AMC theatres? But you can get gift cards at better rate.
Why would anyone get this card?
Surprising move—wonder if this is the start of more co-branded cards being phased out.
Shattered.
https://youtu.be/oNJETLKB70c
never understood the point of these pathetic products.
they clearly couldnt even sell the portfolio. im sure they tried. i bet not even bullshit banks like comenity synchrony FNBO evolve bank first electronic bank (cardless) wanted them.
products like AMC just die into the black abyss of irrelevancy and members gotta deal w/ the headache of managing the closed accounts.
i also dont understand the pple who get these cards. even if ur credit is shit. i would just start w/ other credit building reputable lenders.
whats surprising is the abundance and availability of bullshit products. theres so much to choose from.
doctorofcredit.com/the-worst-credit-card-that-exists
The same notice was sent out today by Deserve also for the Krowdfit card, which had already been deactivated for purchases in March 2024 (see the comment section of this post for a discussion and further details: https://www.doctorofcredit.com/krowdfit-credit-card-4-back-on-health-wellness-medical-lifestyle-partners/#comments ).
Now that Deserve has changed hands, both AMC and Krowdfit (and at least the Rocket card) have officially been discontinued. They will appear on our credit reports as “closed by issuer.”
did u have any of those cards? curious why?
Yep, I had both, a reason being that *approval* (not just a pre-approval) could be checked with only a soft pull — a peculiarity of the Deserve cards that I wish all lenders offered! I had AMC just for fun (I rarely go to movies, and even less in the US), while Krowdfit had a 4% health/wellness category on top of 2% on groceries (including Walmart), so it had a limited but real use within my collection.
i see. so ur talking like the shopping kart trick. but the SP approvals which chase kinda already has w/ their amazon visa pre-approval tool or amex Apply with Confidence.
but since u read doc blog, ur into premium cards. and sounds like ur team cashback. if so, theres no way u wanna waste time w/ AMC and Krowdfit. do u get declined from bulge bracket banks like chase and amex?
i feel like u have a lot more options to explore.
Yes, Amex also started guaranteeing approvals recently (I have all five of their no-annual fee cards). Other examples were GM (when under Marcus), Apple Card, and several Fintechs like Coign, the Imprint lineup, SoFi (now a bank), etc..
I certainly have many of the big banks (4 cards from WF, 2 from Chase, 2 from Discover, 5 from Cap One, etc.) and a bunch of smaller banks and credit unions as well, even if I don’t necessarily need all the cards. I just play for fun as a strategy game with each lender, and almost always get approved when I apply (of course, having a good income and paying in full also helps).
i see. good for u. seems like ur well versed. but maybe u should focus more on prime banks w/ no AF vs sub prime. i think u would do much better. more benefits etc.
Occasionally a sub-prime issuer will offer a unique product. 4% on health and wellness could be useful. My spouse has a CareCredit card, and I’m glad that I was buying some random thing at Rite Aid every six months, because they converted spouse’s card to the Mastercard version. So, now we have a card that earns 4% on health and wellness. That’s easy enough for us to use, earn 4% on the copays.
Back in the day there were sub-prime cards that also charged annual fees. Yeah, those cards with fees should be tossed, but if the card has value on its own, the card shouldn’t be disregarded just because the issuer focuses on sub-prime. Sub-Prime issuers occasionally need a few good apples to balance out their ratios. 🙂
Oh no…. Anyway…
Seems like a Celtic bank situation, my deserve pro card just got randomly cancelled too
It’s Deserve that changed hands as a company, hence their “strategic business decision” to discontinue existing co-branded cards. To the best of my knowledge, Celtic Bank had nothing to do with this.
Even the rocket credit card will be discontinued in september 2025