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Diners Club in Canada
May 13, 2019
2:53 pm
Loonie
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Edit by admin: this topic was split from this other thread

Diners Club was converted to a MasterCard some years ago. I imagine it was a good investment for BMO as they would have picked up tons of clients with good incomes

May 13, 2019
3:04 pm
Doug
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Loonie said
Diners Club was converted to a MasterCard some years ago. I imagine it was a good investment for BMO as they would have picked up tons of clients with good incomes  

Thanks, Loonie...I didn't realize that BMO converted Diners Club to the MasterCard payment network after their acquisition of it. Do you know if they happened to convert their U.S. Diners Club customers to, presumably, a BMO Harris Bank MasterCard?

Cheers,
Doug

May 13, 2019
3:39 pm
Loonie
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BMO keeps this card hidden. I have the impression they want it to be a corporate card. Thus it never appears in comparisons.

I don't know anything about the US operation.

May 13, 2019
3:59 pm
Doug
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Loonie said
BMO keeps this card hidden. I have the impression they want it to be a corporate card. Thus it never appears in comparisons.

I don't know anything about the US operation.  

Thanks again, Loonie, and no worries. Hrm, I just checked out the Diners Club International website and, perhaps this is my fault for relying on the mainstream media instead of going directly to the source and reading the press release, it appears that BMO doesn't own Diners Club at all. The news media, at the time, made it sound like BMO was buying all of Diners Club. I suspect what happened was they just acquired Diners Club's Canadian customers and rebranded it as a BMO Diners Club MasterCard.

From the looks of it, the U.S. and international Diners Club operations are owned by Discover Financial Services (https://www.dinersclub.com/).

Cheers,
Doug

May 13, 2019
4:25 pm
Top It Up
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Before this thread gets anymore FALSE information embedded in it - the BMO purchase in 2010 was more than clear that the purchase was the North American franchise ONLY - sheesh.

BMO acquisition of Diners Club North American franchise provides clients with greater range of Card solutions and best-in-class acceptance.

https://www.bmo.com/spendandpayment/pdf/APEX_Summer10.pdf

May 13, 2019
4:29 pm
Doug
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Top It Up said
Before this thread gets anymore FALSE information embedded in it - the BMO purchase in 2010 was more than clear that the purchase was the North American franchise ONLY - sheesh.

BMO acquisition of Diners Club North American franchise provides clients with greater range of Card solutions and best-in-class acceptance.

https://www.bmo.com/spendandpayment/pdf/APEX_Summer10.pdf  

Thanks, Top It Up. To be clear, I never intended to provide any information that was false. I appreciate being corrected or receiving amended/new information, which I've relayed by way of my further reply. sf-cool

I note, though, that you've highlighted "North American franchise," which seems not to be correct as the Diners Club International website is definitely still based in and targeted to U.S. clients. So it does seem like BMO acquired only the Canadian franchise of Diners Club (they don't appear to own the Diners Club International website, which is news to me and why I corrected my earlier post).

Cheers,
Doug

May 13, 2019
4:39 pm
Top It Up
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Back away from the story while you still can OR at least do the minimum of research/reading to get some understanding INSTEAD of spit-balling your way through yet another thread.

From the Diners International website -

Banking products and services are provided by BMO Harris Bank N.A. and are subject to credit approval. BMO Harris® and BMO Harris Bank® are trade names used by BMO Harris Bank N.A. Member FDIC. Diners Club®, Diners Club International with Split Circle Device, Carte Blanche®, Club Rewards®, Club Cash®, Global Vision® and T+E Reconciler® are registered trademarks of Diners Club International Ltd. MasterCard® and the MasterCard® Brand Mark are registered trademarks of MasterCard International incorporated.

May 13, 2019
4:42 pm
Doug
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Top It Up said
Back away from the story while you still can -

From the Diners International website -

Banking products and services are provided by BMO Harris Bank N.A. and are subject to credit approval. BMO Harris® and BMO Harris Bank® are trade names used by BMO Harris Bank N.A. Member FDIC. Diners Club®, Diners Club International with Split Circle Device, Carte Blanche®, Club Rewards®, Club Cash®, Global Vision® and T+E Reconciler® are registered trademarks of Diners Club International Ltd. MasterCard® and the MasterCard® Brand Mark are registered trademarks of MasterCard International incorporated.  

Yes, I remember reading that, and to be clear, that was my understanding that they acquired the whole of Diners Club International, but why does Diners Club International still have a (current) Investor Relations website and say that they're part of Discover Financial Services? That's what's confusing to me.

Nevertheless, regardless of ownership, it seems it's clear that Diners Club is indeed still be offered independently outside of Canada (as an unlisted BMO Diners Club, thanks to Loonie's tip).

Cheers,
Doug

May 13, 2019
7:30 pm
Norman1
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Doug said

Yes, I remember reading that, and to be clear, that was my understanding that they acquired the whole of Diners Club International, but why does Diners Club International still have a (current) Investor Relations website and say that they're part of Discover Financial Services? That's what's confusing to me.

That's because Diners Club International Limited is owned by Discover Financial Services.

Discover could, but has decided not to, issue Diners Club-branded cards themselves. In certain areas, they licensed others to do so. For example, in North America, the BMO Financial Group has the license to issue Diners Club cards. In the UK, Affiniture Cards Limited has the license.

May 14, 2019
5:32 am
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For clarity - Discover, Diners Club, and AMEX credit cards would rate a 10 on the most useless credit cards index, outside of North America ... and maybe even in North America.

May 14, 2019
7:06 am
Doug
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Top It Up said
For clarity - Discover, Diners Club, and AMEX credit cards would rate a 10 on the most useless credit cards index, outside of North America ... and maybe even in North America.  

I wouldn't put American Express in that camp, but certainly less useful than Visa and MasterCard. Agree with you 100%, though, re: Diners Club and Discover. To that list I'd only add private-label store credit cards. 😉

Cheers,
Doug

May 14, 2019
7:40 pm
Loonie
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What have you got against Diners Club MC issued by BMO? That's the one Canadians would be applying for.

May 15, 2019
6:29 am
Doug
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Loonie said
What have you got against Diners Club MC issued by BMO? That's the one Canadians would be applying for.  

Not sure if your reply was asking me or not, Loonie, but for clarity, if a BMO Diners Club MasterCard were a compelling credit card, I'd have no issues with it. Plus, you've got worldwide acceptance on the MasterCard network. Elsewhere in the world, you'd be limited only to where Diners Club is accepted. So, on that basis, a BMO Diners Club MasterCard is arguably far superior to a pure-play Diners Club credit card.

Cheers,
Doug

May 15, 2019
1:21 pm
Loonie
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I was asking either of you as you both seemed negative.
We should not confuse the Cdn-issued version from BMO with whatever is issued in other countries.

May 15, 2019
1:59 pm
Doug
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Loonie said
I was asking either of you as you both seemed negative.
We should not confuse the Cdn-issued version from BMO with whatever is issued in other countries.  

Agreed, and I wasn't aware BMO had rebranded the Canadian (and U.S., through BMO Harris Bank?) Diners Club franchises onto the MasterCard network. That changes everything. So, I thank you for highlighting that. How'd you happen to know that, by chance? I assume you must have either some dealings with BMO or be a shareholder?

Sadly, I don't have any dealings with BMO and am not a shareholder, though I've tried many times to work for them as they seem like one of the better banks for which to work (i.e., most full-time jobs, still have a DB pension plan, and they have nicely renovated branches)! They also seem to treat their employees fairly and well. HSBC and Scotiabank, on the other hand, not so much. 😉

Cheers,
Doug

May 15, 2019
2:27 pm
Loonie
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I came by this information in the normal course of my affairs.
BMO used to have some good deals with Air Miles, but not now. I think I took home $1500 from that; can't remember exactly now. Gotta love free money!

May 15, 2019
2:59 pm
Doug
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Loonie said
I came by this information in the normal course of my affairs.
BMO used to have some good deals with Air Miles, but not now. I think I took home $1500 from that; can't remember exactly now. Gotta love free money!  

Ah, yes! Interesting...indeed, I've noticed BMO's credit card offerings are much less compelling than they once were. 🙂

Cheers,
Doug

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