U.S. Bank is discontinuing the King Soopers store-branded credit card and transitioning existing cardholders to a U.S. Bank Smartly Visa card [1].
This change affects shoppers across the Kroger nationwide network and specifically those at King Soopers stores in Colorado. The transition eliminates a long-standing credit product that provided specific financial incentives for grocery and fuel shoppers.
On July 29, 2024, U.S. Bank announced that Kroger World Elite Mastercard cardholders would be transitioned to the Smartly Visa product [1]. The move is part of a consolidation of the partnership between U.S. Bank and Kroger [1], [3].
The discontinuation marks the end of the World Elite Mastercard program. This shift is particularly notable for the removal of the existing gas-discount program associated with the Mastercard [3]. The Associated Press said the end of the card removes a beneficial gas discount for shoppers [3].
Despite the change in the card product, some savings mechanisms remain. A King Soopers spokesperson said customers will still be able to redeem points for fuel discounts at King Soopers Fuel Centers [2]. These points can also be used to take dollars off groceries in-store, or through the King Soopers mobile app [2].
U.S. Bank is managing the migration of accounts to the new Visa platform. The Smartly Visa serves as the new primary vehicle for the bank's partnership with the grocery chain [1].
“Kroger's credit card is ending, and with it, a beneficial gas discount.”
The transition from a store-branded Mastercard to a broader Visa product suggests a strategic shift by U.S. Bank to streamline its credit offerings. While the removal of automatic gas discounts may frustrate loyal customers, the retention of point-based redemptions allows the retailer to maintain some customer loyalty through its digital ecosystem and fuel centers.
