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Amazon looking to buy Capital One?

Moderator

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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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....

Message 2 of 8
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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Message 3 of 8
Valued 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.

 


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Message 4 of 8
Community Leader
Super Contributor

Re: Amazon looking to buy Capital One?

Interesting. Thanks for the post.


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Message 5 of 8
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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Message 6 of 8
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...)

 

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Message 7 of 8
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Valued 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 4/19/18:TU 664/EX 697/EQ 695 FICO 8 or 683 FICO 9 (Penfed 3/13/2018), VS 3.0 4/17/18: TU 713/EX 709/EQ 708. $71,800 revolving credit as of 3/23/18; $4000 Walmart Store Card, $4500 Discover It, $5000 Discover It #2 (new 3/12), $6000 Cap One Quicksilver MC, $6000 Amazon Prime Store Card, $7000 Apple FCU Platinum Visa, $7000 Penfed Power Cash Rewards Visa, $7300 Overstock Store Card, $10K Cap One QS Rewards Visa Signature, $15K Care Credit, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Resetting the garden clock from 3/12/18...
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