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

Valued Contributor

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


Duncanrr wrote:

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.

 


Hahahahahaha!  This is way too true!!  I am not sure why American Express would drop to this level though.  I'm not sure they have any idea what direction they are heading in as a creditor.

Starting a whole new chapter
Message 11 of 21
Valued Contributor

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


Walt_K wrote:

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. 


Its a waterdowning of their brand image.  Generally, thats never a good thing.  Here is one example (not a perfect one because gas prices also influenced it), the introduction of the H2 and H3 Hummers.

http://www.donaldcooper.com/index.php?option=com_content&view=article&id=121:artwateringdown&catid=2...



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

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Message 12 of 21
Senior Contributor

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


Duncanrr wrote:

Walt_K wrote:

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. 


Its a waterdowning of their brand image.  Generally, thats never a good thing.  Here is one example (not a perfect one because gas prices also influenced it), the introduction of the H2 and H3 Hummers.

http://www.donaldcooper.com/index.php?option=com_content&view=article&id=121:artwateringdown&catid=2...


I agree, that's a bad example for various reasons.  Besides ther reasons for GM's troubles in general and with the Hummer line specifically, this is branded as a separate product.  It's not the Amex Platinum2, it's Bluebird.  I also don't attach the same associations apparently to a prepaid card.  Sure, it will be used by a lot of people that have poor credit.  But it's not a credit product.  It's more of a checking substitution.  I doubt they could get my business for this, but it isn't going to affect the way I look at Amex.  Also, since it's prepaid, they're unlikely to lose a lot of money on it.  We'll just have to agree to disagree on this one. 


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


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Message 13 of 21
Frequent Contributor

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

It's a prepaid reloadable card called "Bluebird". No a.f. monthly fee, overdraft fee or minimum balance.
Amex B.C.E. - $2.5k - Amex Everyday - $5k - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover It - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k - Chase Marriott - $7.4k - U.S. Bank Cash + - $6k -
W.M. TU-781(Jan/15) Citi EQ-782(Dec/14) EX-782(Oct/14)
Audi, Vide, Tace. . .
Message 14 of 21
Established Contributor

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

I wonder why the mods only move my posts such as these to "credit card news" kind of a slap in the face lol. Guess they don't really like me!
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Message 15 of 21
Senior Contributor

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


laboi_22 wrote:
I wonder why the mods only move my posts such as these to "credit card news" kind of a slap in the face lol. Guess they don't really like me!

It's because I troll all your posts and report them to the mods.  Smiley Wink  JK.  Lots of posts to review, they can't keep up with them all.


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


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Message 16 of 21
Established Contributor

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

Lol but they somehow always always move mine within a few minutes of posting. Oh we'll cant help but feel a little slighted. Coupled with the fact that posts like these will never be moved.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Message 17 of 21
Frequent Contributor

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

AMEX is all about the money with this card! Prepaid cards are unregulated and companies can pretty much charge any and all the fees they wish. Forget about prestige, AMEX wants the revenue!!! 

Message 18 of 21
Valued Contributor

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

Although I would never enter a Walmart store, I know many people that are wealthy and shop there. So it is not just people with food stamps and Ford Pinto's shopping there. I would say whatever supposed elite image American Express had was gone when people reported getting approved with a bankruptcy, multiple negatives,  and having a $200 or $500 limit on the Zync. Seriously what can someone do with that?

Message 19 of 21
Moderator

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


navigatethis12 wrote:

Although I would never enter a Walmart store, I know many people that are wealthy and shop there. So it is not just people with food stamps and Ford Pinto's shopping there. I would say whatever supposed elite image American Express had was gone when people reported getting approved with a bankruptcy, multiple negatives,  and having a $200 or $500 limit on the Zync. Seriously what can someone do with that?


I can still buy a $400 dollar dinner with a $500 limit card.  Presentation doesn't take spending thousands of dollars at a single time Smiley Happy.

 

To the others: Amex is a publically traded company on the NYSE, beholden to their shareholders.  There's tons of money to be made by this move potentially, it's worth taking the shot on it though I agree they probably aren't getting their original pricepoint they would've liked with Walmart... most likely some fraction of the transaction fee is shared.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 20 of 21