Hi - I just saw this in cardbuzz - The Federal Reserve Board Friday approved the application of Canadian Imperial Bank of Commerce to acquire the majority of the shares of DE-based Juniper Financial Corp. to give it control of Juniper Bank. Juniper specializes in online and wireless banking services and launched a MasterCard in October issued through Columbus Bank & Trust. I know people with prime credit who seem to like Juniper and their high limits. It amazes me Juniper is owned now - or was owned - by Columbus Bank and Trust! They own Aspire! cya dogman
For a major bank like CIBC to acquire Juniper simply shows how desperate the major banks are for credit card expertise. Some of the new players have avoided the colossal blunders that have driven the big players into mergers or out of the credit card business altogether. As far as credit limits go, the Aspire people are also generous with their credit limits. They seem to realize that they can make more money charging 30% on high balances than on low balances. In a way Juniper is different, because it doesn't target the subprime market. But in a way it's the same, because it takes a few more risks at the bottom of the prime market segment--in return for a few extra points of added interest. Larger limits are part of its aggressive, "lower prime" lending strategy.
Thanks for this news flash. I have a high limit Juniper account. I wonder how this will affect cardholders. So far their internet site and customer service have been outstanding. I love my card, too. It's somewhat transparent which I thought was rad!
Nice 2 C U RichGuy..... I don't have either one - but apparently, Columbus was smart enough to create a product, increase its value then sell it to another company - Canadian Bank in this instance. Actually, I do not know what kind of interest rate Juniper serves up. I wonder if it tiered pricing based on credit, debt, etc? I'll snap their site. Mist - you wondered about customer service? Who knows, but that bank is certainly the AMEX of Canada so probably you are in good hands Hope you are doing great RG! c ya dogman
What can happen since juniper bank is sold to this bank out of canada?They may sell our credit card accounts to some other US card issuer if they do i hope that it would be CHASE,MBNA or CITIBANK.From what i understand is that credit cards can't be crossed from USA to CANADA in other words you cannot get any credit cards from canada because of living in the USA,and this goes the other way too like no one from canada can get any credit cards from the USA.This is true isn't it because us in the USA dosn't have any credit files in canada,nor does canada residents have any credit files in the USA?Well i have a juniper account too,and we will just have to wait,and see what happens to our credit card accounts.
Re: Nice 2 C U RichGuy..... Dogman, Thanks for the reassurance. It's nice to hear, especially today since AMEX declined me for that personal credit line... Anyway, so far I'm a huge Juniper fan. They have cell phone and/or e-mail alerts at customer set up criteria for use of the card. This is great for me as I travel a lot and some cards get nervous when they see a charge from some of the places I go and cut off the card use completely until they can reach me to confirm. With Juniper, I can set my own "danger" scenarios, and get notified electronically if one of them are triggered. The web site is really great and I may do other banking with them if I remain as pleased in the future. Besides, this card, with the high limit is my ticket out of the balance to credit limit blues. Mist
Re: Nice 2 C U RichGuy..... Apparently, Canadian Banks are looking to establish themselves in the US. My bank, Centura, has been bought by a Canadian bank. breeze
Re: Nice 2 C U RichGuy..... GOOD RIDDANCE... They denied me F.I.C.O. 685-698... Wife too F.I.C.O. 725-741...
Re: Nice 2 C U RichGuy..... But did you call them to challenge their denial? I keep asking you this George. Why do you lay down and take a wasted inquiry when you have scores like that and from what you've said before, no negatives? Ask for a "human" to look at, and assess, your profile. It has worked for me twice.
Re: Nice 2 C U RichGuy..... I disputed my last CITIBANK denial...IT COST ME A SECOND INQUIRY...that's why.
