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Amazon looking to buy Capital One?

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Amazon looking to buy Capital One?

Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.

 

http://www.bankingtech.com/735552/amazon-looking-to-buy-capital-one/

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7 REPLIES
Valued Contributor

Re: Amazon looking to buy Capital One?

Interesting, I just got a $50 Amazon gift card sign up bonus for the 360 checking, I wonder if that is possibly connected, as they were seeing how many Amazon users would want a cap one account....

Super Contributor

Re: Amazon looking to buy Capital One?


gdale6 wrote:

Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.

 

http://www.bankingtech.com/735552/amazon-looking-to-buy-capital-one/


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Established Contributor

Re: Amazon looking to buy Capital One?

Makes sense, they both have cool swooshy logos. Maybe they'll buy Nike next. Smiley Very Happy

 

On a serious note it's an interesting idea. I wonder what might happen to all the Chase co-branded and Synchrony store cards if this went through. If the Amazon VS was Cap1 I'd app now.

 


TU FICO 8: 743 (10/17) — Ex FICO 8: 732 (11/17)
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Super Contributor

Re: Amazon looking to buy Capital One?

Interesting. Thanks for the post.


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Established Contributor

Re: Amazon looking to buy Capital One?

"Stored value cards" is just  fancy name for gift cards, I assume?

 

 Interesting logic, interpreting them as "deposit accounts."  I guess technically you are "depositing" money into an "account."  But who actually considers their gift cards as an actual deposit account asset (on the consumer end)?

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Established Contributor

Re: Amazon looking to buy Capital One?


Dalmus wrote:

"Stored value cards" is just  fancy name for gift cards, I assume?

 

 Interesting logic, interpreting them as "deposit accounts."  I guess technically you are "depositing" money into an "account."  But who actually considers their gift cards as an actual deposit account asset (on the consumer end)?


Quite a few of the under-30 crowd?  And a large segment of the "unbanked".

 

Stored-value Visa/MC cards are being pushed to many demographics as a checking account in all but name...

 

Payroll direct deposits can go to some (some companies push that as the default payment method, with cards they supply, even).

 

Welcome to the world of "millennial finance".  (You may not enjoy your stay...)

 

EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
Established Contributor

Re: Amazon looking to buy Capital One?

Seeing that three of my four cards (Amazon Prime Store, Cap One secured and Cap One unsecured) are either Cap One or Synchrony, I am also very interested in how this would affect all those accounts if Amazon does buy Cap One. Being candid, I wouldn't say no to having my Synchrony Amazon Prime Store card converted to an Amazon Visa...

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 11/2/17:TU 660/EX 694/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 11/7/17: TU 704/EX 690/EQ 697. $32.3K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa,$3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $3600 Discover It, $4000 Care Credit, $4300 Overstock Store Card, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.