Wallmart going to Cap one.

[Anonymous]

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@firefox100 wrote:

I just called Synchrony bank and thay said both card are going over to Cap one, but she said that Synchrony may give the wallmart mastercard holders a choice to stay with Synchrony with another mastercard  type. The lady on the phone said that a letter will be going out in about month.

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Good info! I appreciate it!

[Anonymous]

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@firefox100 wrote:

I just called Synchrony bank and thay said both card are going over to Cap one, but she said that Synchrony may give the wallmart mastercard holders a choice to stay with Synchrony with another mastercard  type. The lady on the phone said that a letter will be going out in about month.

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What about holders of the store card itself?

[Anonymous]

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@firefox100 wrote:

I just called Synchrony bank and thay said both card are going over to Cap one, but she said that Synchrony may give the wallmart mastercard holders a choice to stay with Synchrony with another mastercard  type. The lady on the phone said that a letter will be going out in about month.

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I wouldn’t hold my breath on the offer to another MasterCard. This would undoubtedly be a violation of their terms with Walmart. The only reason they did this for Toys R’ Us customers was because they went out of business. Walmart would likely sue if Sync did this and rightfully so. The accounts are going to Capital One, people need to just accept that or close them. 

[longtimelurker]

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@firefox100 wrote:

The tie in is that Wallmart is going over Cap one from Synchrony bank and Cap one does not treat ther customers wewell. I was showing how nice I got taken care bby JCP at Synchrony bank. That is tie in. Now I don't want my cl cut back because that will hurt my Fico score.

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It only hurts if you have balances reporting.   Providing you can PIF, any time you need to maximize score you can just pay before the statement cuts (and only for major apps, no need for constant AZEO).   If you can't PIF, focus on paying down rather than CL or score.

[Anonymous]

I'll just have to wait until it converts then, I'd rather close a Cap One account than Synchrony!

It may just drive home the point that I don't like them. lol

[firefox100]

First how do you know what the trems are. Second Synchrony will let the Walmart mastercards go over and just open new accounts any one who would like to stay with Synchrony Bank with an hard pull to open new accounts. Other thing When accounts go over any balance on account will be pick up by Cap One so that means Cap one will need to pay Synchrony Bank money to crclear balance amd make whole for Synchrony. I don't think Walmart is going have much to say, Cap one will be happy not have ririsk on ther books.

[Anonymous]

Synchrony has to sell the entire portfolio to Capital One, they can’t sit there and say “hey we have these profitable customers, let’s poach these from the portfolio and keep them for ourselves.” These customers are Walmart’s, Synchrony just serviced the card for Walmart. 

[firefox100]

Correction Cap one will be happy to not have Risk on ther books. Wall mart is not a bank thay get paid for each customer that bank has from Walmart. I don't think Synchrony has recorse with Walmart. Synchrony can always offer the good customers new account with out hard pull. Walmart does not do the Underwritig set the score to get card. Sorry for bad spelling have problem using my Screen reader on this site, I am blind.

[Anonymous]

The majority of Walmart CC users aren't going to notice any difference with their account other than where their payment goes. If someone doesn't like Cap One then they just need to drop the card and move on. Whatever Synchrony chooses to offer existing users isn't going to have the same rewards structure anyways so it won't really matter. It's not like anyone is screaming to have their Walmart CC changed to a Mohawk CC to prove a point about their purchases at Walmart.com.

[firefox100]

Synchrony may just go head and great deals to customers just to get back at Walmart. Synchrony may want to play hard ball in this matter, I don't think that Synchrony bank was happy that they lost walmart account.