Reply
Established Contributor
sccredit
Posts: 850
Registered: ‎09-14-2012
0

Wal-Mart and American Express team up for a prepaid card

So much for their "elite" image......

 

 

http://finance.yahoo.com/news/wal-mart-american-express-team-122125246.html

 

Unsecured Credit: Amex BCP $24,900; Chase Sapphire Preferred $24,200; Discover It $12,500; Chase Ink Cash $15,000; Chase Slate $13,500; Citi TYP $12,900; Amex SPG Biz $3,000; US Bank Platinum $8,600; DCU Visa $10,000; Logix FCU $15,000; Citi Home Depot $8,800; Lowes $5,000; Care Credit $6,000; Penfed Platinum Sig $16,000; Barclay Arrival Plus WEMC $5,000; Bank of America World Points Business Visa $8,000; US Bank PLOC Overdraft $1,500; US Bank Edge Rewards Business $10,000; PenFed PLOC $5,000

Established Contributor
Jlu
Posts: 763
Registered: ‎06-12-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

Now I can earn double miles on snuggies!

Wallet: JP Morgan Select $10k | CSP $10k | Citi TY Premier $7k | AMEX SPG $5k | AMEX PRG NPSL | Barclaycard $5k | Discover IT $10k | NASA Platinum-Advantage $10k | Chase Freedom $3k | CapOne Quicksilver $3k | BofA Cash Rewards $8k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Established Contributor
migliogiorni
Posts: 657
Registered: ‎06-27-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

This move makes sense for nobody.  Costumers can use this card where amex is accepted and amex is tthe least accepted, and amex appeals to the upper class folks.  Ummm so confused...

 

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

I might ditch Amex on principle for this move, haha....

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Frequent Contributor
SwampSystems
Posts: 358
Registered: ‎06-25-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

It's pretty much the same thing as the Serve card with different branding. Called it in the other thread. I can definitely see it appealing to Walmart customers. Aside from gift cards, this is probably the only way some people are ever going to be able to say that they own an American Express card.

Frequent Contributor
Razeus
Posts: 389
Registered: ‎04-02-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

I'm not liking the directin AMEX is going.  I made a thread a couple of weeks ago why they seem to be going after low end customers lately.  First with their Purple prepaid card, then the Serve card, and now this.  Wal Mart customers carrying an AMEX logo in their walet...??? Surely they can't hope to convert these low end customers to a revolver or charge card.  They must be going after the swipe fees in anyway possible.  I bet WalMart is going a fat rate cut for swipe fees.  How about this AMEX?  Cut a deal for Sam's club, becuase I was there yesterday and they only take MC and Discover!

My Wallet:
Discover It $11,000 | Chase Freedom $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | Citi Simplicity $5,000 | AMEX Zync NPSL
Established Contributor
sccredit
Posts: 850
Registered: ‎09-14-2012
0

Re: Wal-Mart and American Express team up for a prepaid card


Razeus wrote:

How about this AMEX?  Cut a deal for Sam's club, becuase I was there yesterday and they only take MC and Discover!


I think the issue with that one is the Costco exclusivity with AMEX.  Hell, it's the only reason I have my USAA Amex, I dropped the "real" company's PRG a couple months ago after noticing a huge drop in their CS and getting declined charges on my card (though it was $0 balance).  I have much better service with my Visa Sig cards, now just need to find a World MC worth adding tot he mix.....

Unsecured Credit: Amex BCP $24,900; Chase Sapphire Preferred $24,200; Discover It $12,500; Chase Ink Cash $15,000; Chase Slate $13,500; Citi TYP $12,900; Amex SPG Biz $3,000; US Bank Platinum $8,600; DCU Visa $10,000; Logix FCU $15,000; Citi Home Depot $8,800; Lowes $5,000; Care Credit $6,000; Penfed Platinum Sig $16,000; Barclay Arrival Plus WEMC $5,000; Bank of America World Points Business Visa $8,000; US Bank PLOC Overdraft $1,500; US Bank Edge Rewards Business $10,000; PenFed PLOC $5,000

Senior Contributor
Ron1
Posts: 4,907
Registered: ‎05-23-2009
0

Re: Wal-Mart and American Express team up for a prepaid card

Valued Contributor
Duncanrr
Posts: 2,843
Registered: ‎06-08-2012
0

Re: Wal-Mart and American Express team up for a prepaid card

Does anyone else here remember all the fake Polo shirts in the 80's/90's.  People had to have the Polo logo so they had those shirts with a horse logo on them  that were similar to the Polo logo.  This to me strikes a very familiar cord.

 



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Wal-Mart and American Express team up for a prepaid card

Sounds like an interesting option for people who might have limited options for fee-free checking.  Don't know why this would trouble anyone about the direction Amex is going. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+