Treating Walmart's customers like a captive audience wasn't a good idea, and now there will probably be layoffs up and down the org chart at Capital One. They should start with whoever approved slow-walking issues with Walmart accounts.
$8.5B in the portfolio is a hell of a lot of risk if a good percentage goes into default. Guessing Cap1 might be starting to scrutinize new apps a bit more carefully in today's credit environment.
I had $84 on a WaMart gift card the last time Wally World ended a card partnership a decade ago. That was $84 lost. I haven't bothered with a WalMart since. The only people that are going to loose is the customer.
Treating Walmart's customers like a captive audience wasn't a good idea, and now there will probably be layoffs up and down the org chart at Capital One. They should start with whoever approved slow-walking issues with Walmart accounts.
ReplyDeleteTwo large companies fighting over how the other treats "their" slaves.
DeleteA hell of an account to lose. A major screw up and to late to fix.
ReplyDelete$8.5B in the portfolio is a hell of a lot of risk if a good percentage goes into default. Guessing Cap1 might be starting to scrutinize new apps a bit more carefully in today's credit environment.
ReplyDeleteI had $84 on a WaMart gift card the last time Wally World ended a card partnership a decade ago. That was $84 lost. I haven't bothered with a WalMart since. The only people that are going to loose is the customer.
ReplyDelete