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Announcement
 
TO:

Deans, Officers, Department Heads and GEMS Users

FROM: Gene Suwanski, Director, Central Procurement Services
SUBJECT: Change in the GEMS Credit Card Issuer
DATE: November 4, 2008

The following advance information is provided to alert you to an upcoming change in the GEMS credit card program.

Our GEMS card provider, GE Corporate Payment Services (GE), has been acquired by American Express (AmEx).  AmEx intends to convert GE corporate card programs to an AmEx program.  The University has declined to participate in this platform conversion and has contracted with JPMorgan Chase (Chase) to continue a MasterCard credit card program.

Current GE card holders will not be required to re-apply for the Chase GEMS card.  Chase GEMS cards will be automatically issued for all current GE cardholders with the same spending parameters of the GE cards.  The Cardholder Agreement accepted by each cardholder remains in effect but with the references to GE changed to Chase.

New applicants to the GEMS program will receive a GE credit card until we transition to Chase.

We anticipate the cutover to occur within the next 90 days and will inform you when we are nearing the changeover date.  Details regarding card delivery will be provided at this time.

Any response to this communication can be directed to Diane Stanek, Associate Director, Central Procurement Services at dstanek@uchicago.edu or (773)702-3323.