Bob Larson's Daily Tennis News
5.14.09
After just 11 months, The USTA has ended its Signature Visa partnership with Chase Card Services, the credit card division of JPMorgan Chase.
The partnership seemed to be a win-win situation, with Chase having an opportunity to increase its customer base, and the USTA adding much needed revenue to its bottom line. In a press release last June, Chase wrote “Every purchase made using the card will also contribute to the USTA’s mission to promote and develop the growth of tennis.”
This split is a blow for the USTA, and could be a sign of financial troubles that could impact the longstanding relationship between the USTA and JPMorgan Chase.
When asked to comment on the split, Mike Fusco, spokesperson for JPMorgan Chase, said “The U.S. Tennis Association Signature Visa is no longer being issued by Chase. JPMorgan Chase and the USTA have enjoyed a strong and valuable relationship for the past 25-plus years. Current USTA cardholders in good standing will be offered another Chase card product upon expiration of their current card. JPMorgan Chase will continue to serve as lead sponsor of the U.S. Open. Additionally, with the USTA, JPMorgan Chase provided more than 8,000 New York City youth with the opportunity to develop their tennis skills in free tennis camps in over 37 parks.” Representatives from the USTA headquarters declined to comment on the split.
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