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Walmart Inc. is considering moving its branded credit-card business to Capital One Financial Corp. from Synchrony Financial
Should be interesting to see how this plays out...HUGE chunk of potential business there.
I can't imagine Synchrony giving up Walmart (and Sam's Club?) without a serious fight - that's a huge block of customers.
If it were to happen, though, folks had better 'get while the getting is good', since Capital One isn't known for generous credit lines on store cards like Synchrony is.
Thanks for posting this, Ric!
I hope this plays out. Capital One is really helpful to re-builders (like yours truly), so a Capital One-branded Walmart card will be very helpful.
@UncleB wrote:I can't imagine Synchrony giving up Walmart (and Sam's Club?) without a serious fight - that's a huge block of customers.
If it were to happen, though, folks had better 'get while the getting is good', since Capital One isn't known for generous credit lines on store cards like Synchrony is.
Capital One also isn't known for its generous cashback rewards or 0% interest offers either.
Capital One Chief Executive Officer Richard Fairbank has been outspoken about the intensifying competition in co-brand partnerships, saying prices in the space can become “pretty breathtaking” at an investor conference in May. “While we want to be in this business, we’re not going to be in it at any price,” Fairbank told investors at a recent conference.
I have both Walmart & Lowes store cards, both at $10k CLs. The Walmart card has some pretty decent rewards, 3% on Walmart.com, and the current promo is for 3% in store when paying with Walmart card on Walmart Pay through July 31. And 0% deferred for 6 months for as little as a $99 purchase. And Lowes card gives 5% discount or 0% deferred for 6-9-12 months for a $199 purchase.
I will cancel my card should Cap-1 take it, not interested in their CLI and other policies over the 1 rebuilder I have with them.
Was scrolling through some news articles on Google and I found out that Walmart is taking bids from other card issuers for the first time in nearly 20 years. Looks like Synchrony and Walmart's relationship may be ending soon. Now, will this be a good thing or a bad thing? Thoughts?
Has anybody heard about this? Apparently Walmart will be moving away from Synchrony bank and go to Capital one or another bank that can provide Walmart pay.