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Maybe I have been living in darkness for too long, but received a packet of balance transfer checks from Cap One in the mail today which happens every so often. Maybe it was there before, but I am sure it would have caught my eye, but today I noticed under the memo area of the check, it is printed "Payable thru Wells Fargo Bank N.A." . Could this be why we are seeing changes to the Buy Power Cards and regular Cap One cards in reference to CLIs, etc? Just thought it was interesting to have Wells mentioned on Caps checks.
It's not uncommon for banks to buy up debt assets from other banks. Capital One specializes in the subprime market, and Wells Fargo is a bit more conservative. The subprime credit market can be more profitable than the prime credit market if you know what you're doing, and Capital One has been doing just that for decades. Think of Capital One as the real estate agent in this regard.
Wow, good eyes. I put it away and, after reading this, indeed it is Wells Fargo...even the routing #. Interesting...
jeffreymrimd wrote:
Wow, good eyes. I put it away and, after reading this, indeed it is Wells Fargo...even the routing #. Interesting...
I thought it was.
And all these years I thought was avoiding Wells.
they wet the bed together as well
lol