WalMart sues Synchrony for $800m

[CCrew]

Admins, please move if not in the right place. 

Thought this was newsworthy for those holding Synchrony cards. I know they flipped my Sam's card to Mastercard which fits this mold. 

https://www.bizjournals.com/newyork/news/2018/11/02/walmart-sues-synchrony-for-800m-in-a-nasty-break...

[Anonymous]

Walmart Sues Synchrony for $800 Million as Card Split Sours

[Anonymous]

This is a big WOW! Sometimes I think I may have a problem? NOT! Should be interesting future reading. Thanks for the alert

[Legal_Girl]

I read an article about Walmart suing Sychrony for 800 million due to Synchrony breaking an "implied promise". It also said Walmart has chosen Capital 1 to handle it's cards. I hadn't heard anything about this until today. Well, there goes the credit limit increases.

[Jnbmom]

This cracks me up, first Wallyworld is mad because synch didn't offer enough credit, now they are saying Synch caused them too many losses.

So which it is LOL...........................

[tcbofade]

Either way, I'm not terribly impressed with Synch OR Capital One... methinks that my Wallymart card is reaching the end of it's usefulness.

[Remedios]

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@tcbofade wrote:

Either way, I'm not terribly impressed with Synch OR Capital One... methinks that my Wallymart card is reaching the end of it's usefulness.

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Right there with you. If Synch keeps the portfolio and converts store card to general purpose card, I am closing it. 

There is nothing they can offer that's worth taking a new account hit.

If they kept the original opened date, I'd leave it alone, but they never do.

[Medic981]

Walmart is just throwing a tantrum because it didn't get its way.

[CreditCuriosity]

Sounds like Sync is going to be SOL more-so and probably lose Sams out of this as well (just speculation as they are esentially the same company as we know)... Don't want to piss off a 10k giant and the sam's club was up for as well next year i beleieve.. Sync shares fell 9% from that one announcement friday imagine if they dont get sams back how much more their shares will get pounded down.

[blindambition]

I know that Walmart specifically asked Cap One to consider the Sams contract.

I’m confused as to why Walmart and Amazon don’t eye credit in-house. They have the capital. They wouldn’t have to consider how another is handling their portfolio.