Why is Popular replacing the American Express® credit cards with Mastercard credit cards?
At Banco Popular we are continually assessing the products and services we offer, always seeking solutions that address our customers’ needs. The Mastercard credit cards that will replace the American Express ® cards offer more and better benefits to our customers.
How do I benefit from this change?
The change comes with multiple benefits, including:
When will I receive the new Mastercard credit card?
Cards were mailed starting on May 20, 2019. You should receive your card(s) within the next couple of weeks. Please contact us if you haven’t received your cards by June 10, 2019:
Until when can I use my American Express® card?
You may use your American Express ® card(s) until June 24, 2019. If you activate your new Mastercard credit card(s) before that date, your American Express® card(s) will be deactivated; whichever occurs first.
How many credit cards will I receive?
You will receive the same number of cards you currently have in your account.
Will my credit card number change?
Yes. Your account number, expiration date and security code will change.
Do I have to activate the new Mastercard credit card(s)?
Yes. In order to use the new card(s) you need to activate it(them) by calling the number provided on the sticker placed on your new Mastercard credit card; or if you are registered at Mi Banco, go to the “Services for my Card” section.
Once I activate the new Mastercard credit card(s), will I be able to continue using the American Express® card?
No. The American Express ® card will be deactivated once the new Mastercard credit card(s) is/are activated.
Do I have to pay the balance I currently have on the American Express® card?
Yes. The amount you owe on your American Express ® card will be automatically transferred to the new Mastercard credit card. You must continue making your payments according to the Mastercard credit card account statement.
I'm registered at Mi Banco. Must I do anything else?
The American Express ® card will continue to appear at Mi Banco so as to preserve the transaction history prior to the product change. However, you may choose for it not to appear. Just uncheck the card in the “Edit Accounts” section of Mi Banco.
The new Mastercard credit card will appear automatically at Mi Banco.
I have registered my account to make automatic payments. Should I make any changes?
Yes. If you programmed your American Express ® card to make automatic payments—for example: AutoExpreso, cellular service, cable service, gyms, maintenance fees or any other business or payee—you must give your new Mastercard account number and card expiration date to each service provider.
Will my Personal Identification Number (PIN) change?
No. Your secret personal identification number (PIN) will remain the same.
What happens to my current credit line?
Your credit line will not change.
This change from the American Express® card to the Mastercard credit card, will it affect my credit?
No. This change won’t impact your credit.
The history associated with the American Express ® card—such as the credit line and the time elapsed since the card was opened—will continue to show up on credit reports under a Banco Popular credit card. On the next report, the name of the American Express® card will change to your Mastercard credit card.
Will the change to Mastercard affect my interest rates, credit line, offers and other benefits offered by the American Express® card?
No. You will continue having your former card’s same terms and conditions, including your interest rate, credit line and benefits. Your offers and promotions will be transferred to the new credit card.
The payment due date for the Mastercard credit card, will it be the same payment due date of the American Express® card?
Yes. You will have the same due date you had on your American Express ® card.
I currently receive electronic account statements. Must I change anything?
No. You will continue to receive your account statements as you usually do.
What happens if I’m traveling and cannot receive the new Mastercard credit card at the address I have registered with the Bank?
You can continue using the American Express ® card until June 24, 2019. After that date, you must activate your new Mastercard credit card in order to use it. For more information or personal assistance, please contact us:
Will this change affect the offers or promotions I had accepted for the American Express® card?
No. All the offers you had with the American Express ® card will be honored and transferred to the new Mastercard credit card.
I’m currently earning PREMIA® points on purchases made with my American Express® card. What will happen to my points?
Your PREMIA ® program will remain attached to your new Mastercard credit card and you will continue earning points as usual. Allow us one or two billing cycles for the points earned with your new Mastercard credit card to show up on your PREMIA® program.
Is there any way I can keep my American Express® card?
No. This product is no longer available.
What happens if I have a refund pending?
Any credit or refund will show up on your new Mastercard credit card.
Where can I get information on Mastercard and its benefits?
For more information, go to www.mastercard.com and www.priceless.com.
Who should I contact if I have additional questions?
