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Walmart May Choose Capital One For Credit Card Issuer

Valued Contributor

Walmart May Choose Capital One For Credit Card Issuer

Walmart Inc. is considering moving its branded credit-card business to Capital One Financial Corp. from Synchrony Financial

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Message 1 of 39
38 REPLIES
Frequent Contributor

Re: Walmart May Choose Capital One For Credit Card Issuer

Should be interesting to see how this plays out...HUGE chunk of potential business there.

Message 2 of 39
Moderator

Re: Walmart May Choose Capital One For Credit Card Issuer

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.

Message 3 of 39
Valued Contributor

Re: Walmart May Choose Capital One For Credit Card Issuer

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. Smiley Wink

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Message 4 of 39
Community Leader
Valued Contributor

Re: Walmart May Choose Capital One For Credit Card Issuer


@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.


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Message 5 of 39
Moderator

Re: Walmart May Choose Capital One For Credit Card Issuer

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.

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Message 6 of 39
Senior Contributor

Re: Walmart May Choose Capital One For Credit Card Issuer

I hope Synchrony keeps the account. I like the ease of CLIs they offer. No jumping through hoops or waiting six months mumbo jumbo.
This is a bad move on Walmart's part IMO. Probably driven by greed more than anything else.
Synchrony has done a great job promoting Walmart's CC.




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Message 7 of 39
Established Member

Walmart: Bye Bye Synchrony, Hello Capital One? Maybe

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?

 

https://www.marketwatch.com/story/walmart-may-switch-to-capital-one-as-its-credit-card-partner-2018-...

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Message 8 of 39
Senior Contributor

Re: Walmart: Bye Bye Synchrony, Hello Capital One? Maybe

If it's Capitol One..bad.😂




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Message 9 of 39
Frequent Contributor

Walmart credit card

https://www.msn.com/en-us/finance/companies/walmart-weighs-a-bid-from-capital-one-for-credit-cards/a...

 

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.

Message 10 of 39