topic Re: Before They Were Stars in SmorgasBoard

Before They Were Stars

JayRizzo — Sat, 05 May 2018 13:10:23 GMT

While looking through old forum discussions, I noticed some of the credit card names had changed. I began looking up the original names of just a few... didn't turn this into a full research project, but found some fun facts about our Big Name Cards:

The Signet Bank Mastercard evolved into what we know today as, "Capital One"

Credit One Bank (Cap-1's Bizzaro Alter-Ego) used to be called, "First National Bank of Marin"

Discover card was created by SEARS. Originally thought to be a Dual Card, but became its own Network

Household Bank Mastercard became HSBC

Washington Mutual (WaMu) was aquired by Chase

Providian - Rest in HECK!!!! (Busted and admitted to scamming loyal, good-paying customers by holding payments beyond 30-days to collect late fees).

...any other big names that started as the small-fry?

Re: Before They Were Stars

Anonymous — Sat, 05 May 2018 15:27:59 GMT

I would argue Chase and BofA themselves, although always large, got even larger through mergers and aquisitions over the past 15 years or so:

Chase: First USA/Bank One; First Card (original issuer of the United card) and WaMu cards all combined with the Chase Manhattan cards.

BofA: NationsBank purchased BofA and rebranded as BofA; BofA bought MBNA and Fleet Boston cards

Citibank: you have to go way back for these but Citibank purchased Associates National Bank (created by Ford Motor Co. and specialized in financing, store/gas cards etc) and Universal Bank (AT&T Universal Card).

Another interesting Citibank tidbit, from when they were still relevant, they tried to create their own network called Choice. Choice was to rival Visa/MasterCard/Amex (this was before Discover's time) but they failed to make it work; all Choice cards that were issued were later converted to a Visa card. These Choice cards (as Visa's) were still in circulation in the 2000s but I think by now Citibank has changed them all into Citi cards.

Re: Before They Were Stars

HeavenOhio — Sat, 05 May 2018 15:59:27 GMT

Firstar took over US Bank in 2000–2001, but they kept the US Bank name and headquarters. Firstar customers became US Bank customers.

Firstar was originally the Farmer's and Millers Bank in Milwaukee (1853), then First Wisconsin (1919), then Firstar.

Re: Before They Were Stars

Adkins — Sat, 05 May 2018 16:11:59 GMT

@JayRizzo wrote:
While looking through old forum discussions, I noticed some of the credit card names had changed. I began looking up the original names of just a few... didn't turn this into a full research project, but found some fun facts about our Big Name Cards:

The Signet Bank Mastercard evolved into what we know today as, "Capital One"
Credit One Bank (Cap-1's Bizzaro Alter-Ego) used to be called, "First National Bank of Marin"
Discover card was created by SEARS. Originally thought to be a Dual Card, but became its own Network
Household Bank Mastercard became HSBC
Washington Mutual (WaMu) was aquired by Chase
Providian - Rest in HECK!!!! (Busted and admitted to scamming loyal, good-paying customers by holding payments beyond 30-days to collect late fees).

...any other big names that started as the small-fry?

Huh. I never knew this. I had them decades ago. I don't remember having an issue with my payments though.

Re: Before They Were Stars

JayRizzo — Sat, 05 May 2018 18:37:01 GMT

I hope I don't get in trouble with the moderators for placing links here, but check out this video about Providian and other banks and law-makers during the Credit Crisis...

https://youtu.be/BMgkKjvzDMI