@Creditaddict wrote:
@Hammer23 wrote:Hot off the presses:
http://finance.yahoo.com/news/wells-fargo-dillard-announce-credit-123000810.html
What a TERRIBLE idea Dillards... Last I knew the company was already loosing and I think the credit of the average consumer of Dillards is better fitted to GE underwriting.
Based on GE selling off his retail based cc portfolio, I am not surprised and expect to see more news alerts in the future.
@09Lexie wrote:
@Creditaddict wrote:
@Hammer23 wrote:Hot off the presses:
http://finance.yahoo.com/news/wells-fargo-dillard-announce-credit-123000810.html
What a TERRIBLE idea Dillards... Last I knew the company was already loosing and I think the credit of the average consumer of Dillards is better fitted to GE underwriting.
Based on GE selling off his retail based cc portfolio, I am not surprised and expect to see more news alerts in the future.
Absolutely agree.
@Creditaddict wrote:
@Hammer23 wrote:Hot off the presses:
http://finance.yahoo.com/news/wells-fargo-dillard-announce-credit-123000810.html
What a TERRIBLE idea Dillards... Last I knew the company was already loosing and I think the credit of the average consumer of Dillards is better fitted to GE underwriting.
Hmmm, WF can set the underwriting standards to anything they want for an individual product. They already dabble in subprime in other products, not like it's a long walk to setup a custom standard for this card.
Only thing GE really does well consumer-wise was SP pulls for their friendly CLI policy. I don't really see this making a difference for Dillards customers unless DIllards wants to change the profile.
Had this in an e-mail this morning.
"In other Wells Fargo news, the bank is boosting its credit card push with a 10-year deal to issue and service cards for Dillard's. Expanding credit card business has been a key priority for Wells and the scoreboard: 37% of households had a Wells Fargo credit card at the end of 2013 vs. 27% two years earlier. This latest move has Wells moving into the private label card business, an area in which it lags rivals like Citi and Capital One."