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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/
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....
@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/
On the seventh day he slept ...
Makes sense, they both have cool swooshy logos. Maybe they'll buy Nike next.
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.
Interesting. Thanks for the post.
"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)?
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 831| TU: 818 | EX: 809
@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...)
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...