WaMu was acquired by JP Morgan Chase & Co in last week. And the Wachovia (banking operations) is acquired by the Citi Group yesterday. The FDIC press release can be found here. Another bank that is still in struggling is the National City Bank. The stock price of National City dropped a lot in the past week. However, in the credit card market, it seems that every credit card issuers are still in good operations even though we still have serious credit crisis now.

JP Morgan Chase & Co should be a very reliable bank under this situation. Today I was informed that there is a new promotion that is going to start between October and December from Chase. This promotion is targeted to the Chase Freedom Card members.

According to the invitation letter, you can choose one of the three pre-selected bonus rewards:

• 3% cash back
• $25 gift card
• 3-bureau credit report and score

To redeem this offer, you have to register at www.chasebonus.com/holiday1 and select which bonus award you would like to have. And then from October 1 to December 31, 2008, all you have to do is to spend more than $250 on home furnishing, home repair, and home and garden supply purchase! (I believe different customers will receive different purchasing requirements.)

Compared to the $25 offer, I would probably go for the free 3-bureau credit report and score which values more than $25.

Fine print: Bonus Rewards is defined as a choice of cash back, $25 gift card or a 3-bureau credit report and score. In order to be eligible for a bonus reward, you must first enroll by blogging on to the opt-in website using your last name, last 4 digits of your account number and zip code. Once your bonus reward selection has been made, it cannot be changed. If you selected the 3-bureau credit report and score as your bonus reward, the credit report information will be obtained from one or more of the three national credit repositories, Experian, TransUnion and Equifax. Chase uses First Advantage Membership Services to provide  the information to you.