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@longtimelurker wrote:
@grillandwinemaster wrote:
@Anonymous wrote:
@Anonymous wrote:Maybe it has something to do with the rumors of Amazon looking to buy Capital One.
That would never pass regulatory banking laws.
Why not? It doesn't affect me either way, just curious.
See https://www.americanbanker.com/news/amazon-buying-capital-one-fat-chance-but-fun-to-ponder for a good summary
Interesting article. Thanks LTL.
About Amazon buying Capital One. I would think if they were planning to buy a major credit card company they would have waited to roll out the new 5% Amazon Prime Visa with Chase and Cobranded with Capital One instead. And if they do buy Capital One I wonder if Our Prime Visas would stay with Chase or go Capital One. It seems it wouldn't make sense for them to own one company and Cobrand with a major competitor.
@Aprile421 wrote:About Amazon buying Capital One. I would think if they were planning to buy a major credit card company they would have waited to roll out the new 5% Amazon Prime Visa with Chase and Cobranded with Capital One instead. And if they do buy Capital One I wonder if Our Prime Visas would stay with Chase or go Capital One. It seems it wouldn't make sense for them to own one company and Cobrand with a major competitor.
I tend to agree. Also, if they're lookiing to reach the maximum number of potential customers, I'd think they'd have gone with Cap 1 (which markets heavily to rebuilders and people with average credit) rather than Chase, which requires at least good credit for its cards and is known to be sticky about bankruptcies in one's record, especially if they got burned in said BK.
not sure I see the logic in Cap1 tightening up in anticipation of a take over by Amazon.
could the tightening up be symptomatic of Cap1 having deep financial problems brewing?????
http://www.pymnts.com/news/banking/2017/capital-one-struggles-in-federal-reserve-annual-stress-test/
Thanks JackBeNimble1. This article is most enlightening.
Interesting articles indeed.. Possibly more slashing of CL's to come or better standards and go more prime then sub-prime
@CreditCuriousity wrote:Interesting articles indeed.. Possibly more slashing of CL's to come or better standards and go more prime then sub-prime
It is hard for them to go Prime. First they are seen as sub prime. So they would have to spend a lot to change their image. Plus Prime customers want big rewards so they would have to come up with bigger sign-on bonsues. Do they have the money for that. Venture has 40,000 sign up bonus all the big cards have at least 50k. They don't have any co-branded Airline or Hotel cards. Once again that costs money.