Credit Card News
AMC Abruptly Shuts Down Its Co-Branded Rewards Credit Card
The theatre chain AMC has notified customers that it’s immediately discontinuing its AMC Entertainment Visa Card.
About the AMC Credit Card Shutdown:
On August 27th, AMC sent an email to cardholders informing them that the AMC Entertainment card would be discontinued. Moreover, the card will no longer work for purchases effective immediately. The company explains that this abrupt closure comes as the card’s issuer, Celtic Bank, has been acquired.
Despite the card program ending, AMC says that customers will still be able to use their earned AMC Stubs rewards. Points earned from purchases on the card will be placed into customers’ Stubs accounts, allowing them to be redeemed as normal. However, those who had yet to achieve their welcome bonus will not be able to claim their offer after August 27th.
In light of the closure, AMC states that a Bonus Bucks offer has been sent to cardholders. While the details of this offer were not disclosed on the card’s site, it does note that A-List and Premiere members will be able to redeem these Bonus Bucks for tickets or concessions, while Insiders can only redeem for concessions. These Bonus Bucks will expire 90 days after issuance.
Lastly, AMC Entertainment Visa cardholders are still responsible for paying off their final card balance. Meanwhile, accounts will be updated with credit bureaus to read “closed by issuer.”
What the AMC Entertainment Visa Card Offered:
Launched in 2023, the AMC Entertainment card was the first co-branded movie theatre credit card in the United States. With the card, movie lovers could earn 50 points per dollar spent at AMC locations, including ticket purchases via the AMC app or on the website. Additionally, the card earned 20x points on dining, 20x points on groceries, and 20x points on gas. All other purchases earned 10x points.
As for redemption, 5,000 points could be redeemed for a $5 reward toward tickets or concessions. That means that AMC purchases effectively earned 5% back, while dining, groceries, and gasoline purchases earned 2% back.
My Thoughts:
The AMC Entertainment Visa Card was never an option that interested me, but it’s still a shame the offering is ending with so little notice. Although it sounds as though cardholders will still receive all of their rewards (unless they just opened the card and had yet to hit their welcome bonus) and some Bonus Bucks, it still must be a frustrating situation. Hopefully, this shutdown won’t have too many negative impacts for cardholders — and perhaps AMC can relaunch a better co-branded credit card in the future.
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