According to Fintech Futures U.S. Bank is looking to sell card processor Elan. Most readers will be familiar with Elan as they issue the Fidelity 2% cards, after taking over from FIA card services (owned by Bank of America). Elan is also responsible for providing card processing services (payment services, credit card, prepaid cards & more) to 1,800 banks. Even if U.S. Bank did sell Elan, I wouldn’t expect any changes to the Fidelity card. Fidelity has previously stated that cardholders hold 3 and half times more with Fidelity than non cardholders.
I wish Fidelity would get its act together in the banking and credit card arena. They rely on outside parties like Elan to provide the services. Schwab is its own bank and makes things so much easier (although I wish Schwab would upgrade its 1.5% cash back card to 2% to compete with Fidelity.)
Schwab uses American Express in the same way Fidelity uses Elan.
Have generally positive experiences with my Elan Fidelity Visa card.
Website is outdated and limited in capability, but phone service has been fine.
Have only endured one charge-back in my years as a cardholder. Had some difficulty contacting that department several times. Eventually escalated to the executive office, who did contact me promptly and resolve the issue.
This is a welcome change for me since US Bank banned me in 2014 and I had to close the card out prior to the shift to Elan from BOA.
Why did US Bank ban you?
I was a noob back then depositing MO about 4k a week. Last about 3 months and got the boot.
Thanks for the DP!
Elan is a piece of junk. They cheated me twice via the Fidelity card. I could go into details but it’s a long story.
Can you explain a resumen of your story with Elan?
Just as a counter data point, I’ve had no problems with Elan customer service. All of my ‘threshold spend’ offers have posted (although they take awhile) and they also refunded a late payment fee + interest charges, the one time I forgot to make a payment.
Elan CS is much worse than FIA, in my experience.
Welcome back William. We missed you 👍
Thanks, Abey!