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

Valued Contributor

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

 

Starting a whole new chapter
Message 1 of 21
20 REPLIES
Established Contributor

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

Now I can earn double miles on snuggies!

AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

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Message 2 of 21
Established Contributor

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...

 

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Message 3 of 21
Established Contributor

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
Message 4 of 21
Frequent Contributor

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.

Message 5 of 21
Frequent Contributor

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!

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AMEX Platinum | Discover It $20.3k | Chase Sapphire Reserved $16k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Message 6 of 21
Valued Contributor

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.....

Starting a whole new chapter
Message 7 of 21
Super Contributor

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

Message 8 of 21
Valued Contributor

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)
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Message 9 of 21
Senior Contributor

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)
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Message 10 of 21