Re: Wal-Mart and American Express team up for a prepaid card
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 .
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.
You are right about that, althought $400 would buy me dinner all year. For me, $500 would not be enough for the months, unless I was constantly sending payments which would be a hassle.
I do not really see the motive for this though. Walmart claims most customers pay in cash, so why would they decide they want a prepaid card so suddenly? I would imagine not that many people will get it, but I could also be wrong about that.