Why Banks Bet Big on Risky Credit Card Partnerships

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Information Why Banks Bet Big on Risky Credit Card Partnerships | WSJ

Title	:	Why Banks Bet Big on Risky Credit Card Partnerships \| WSJ
Lasting	:	8.04
Date of publication	:
Views	:	398 rb

It isn’t easy for students to get a credit card anymore Here’s what to know: onwsjcom/3AqURvC
Comment from : @wsj

That’s a smart move! More friends on board means more fun and extra bonuses to go around Let’s spread the word
Comment from : @WALKERMckeon

Yeah, got some cashback last weekend It’s like getting a second chance which is pretty neat
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Definitely considering it, especially with cricket season in full swing Could use that bonus for some extra bets
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The welcome bonus is a great deal got me started with extra funds to play around with
Comment from : @YusufAsudan

Yeah, it's great how they offer those Helps smooth out the ups and downs a bit Do you usually go for games of chance or strategy
Comment from : @BERNIECreamer

I'm waiting for the weekend they often have special promos for wheel games
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Their live game shows are a blast got a bonus just for participating in a quiz
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My brother told me about the cricket betting options there hit big on the last match thanks to his tips
Comment from : @EvrimEmine

The daily challenges are worth it if you’re consistent with games like blackjack and poker can really boost your winnings
Comment from : @JEFFLucas-j4y

They’ve also got cashback offers, which are great for those unlucky days Have you used any of those yet
Comment from : @YungVargo

Wells Fargo should stop crying
Comment from : @blacksuite1

If you have to sell my date to make money you failed as a company
Comment from : @jeremybeaverson7167

Banks are child play that everybody takes seriously Thats what makes it risky People give their life to children Children in the banks are they GODs
Comment from : @Stevexnycautomotive

4:10 they didn't expect them to use a card marketed for rent forrent?
Comment from : @shady8099

Our economy is just made up bro I swear to god
Comment from : @shady8099

Dotcom bubble❎ brCreditCard bubble✅
Comment from : @Parapresdokian

полюбил я эту сферу, нормально получается поднимать по таким связкам, приватки дают тоже
Comment from : @chandanadhikary3258

I have both visa prime and bilt
Comment from : @sanz1996_

📝
Comment from : @STOCKUPBUILDINGWEALTH

Nice one
Comment from : @GiftUkure-r7s

There is no risk for them, they always get bailed out by the government
Comment from : @EduardoSanchez-un2hh

Cc are not riskythey are most rewarding for banksmimimum interest rates over 36😢
Comment from : @njoy177

Does this include Putin's friends who guarantee the repayment of Trump's loans to Deutsche Bank?
Comment from : @elzo_smid

So basically this is the sub prime lending fiasco all over again
Comment from : @girlie89

Wells Fargo isn't really losing money, It may be losing net on positive profit, but at the end of the day they are still making money total
Comment from : @flamevell3258

I've been using your strategy for a few weeks now and it's been working great Thank you so much!
Comment from : @tarayazdanparast2199

Harris Angela Gonzalez Brenda Martin Kenneth
Comment from : @AliciaNeal-r3b

5:47 it's absolutely insane that customer data is considered an "income stream" when it is simply a breach of privacy I'll never understand how Americans have let this issue go unchecked My data should be private and not something to sell for profit
Comment from : @Cpt-Maximuz

The disastrous decision to repeal the Glass-Steagall Act in the late 1990s led to the spectacular failure of huge banks during the financial crisis of 2007–2008 To prevent a future catastrophe, Dodd-Frank and this Act both need to be revived right away What happened with SVB is just the start of what will happen if nothing is done to address the current problem
Comment from : @Helen_white1

Oh no, the trillion dollar banks are losing millions What a tragedy
Comment from : @agent0422

In my experience these co-branded credit cards always seem to have the highest interest rates compared to regular credit cards Why do they tend to be higher?
Comment from : @smilesam

Interesting that IHG hasn't had a UK co branded credit card in the UK for a while
Comment from : @edwardpickering9006

The Walmart capital one card is closing I'm so sad 😔 I always paid my balance and I made about $120 cash back every month
Comment from : @jenniferramos6398

Well that Walmart card for Capital One was good while it lasted
Comment from : @DarkJustice1999

Wells Fargo could easily afford the costs associated with offering the Built program if they just learned how not to screw up their basic banking business and not pay out hundreds of millions in fines to regulators and other legal expenses
Comment from : @jdrancho1864

Seems to me the all the bank issuers are getting out of these co-branding agreements are vague promises of customer growth whilst taking on all of the risks Meanwhile, the brands are getting nothing but upsides Ironically, they're whistle all the way to the Bank
Comment from : @TheWolfHowling

And consumers win for once Lots of signup bonuses to chase
Comment from : @iphone3gs96

Why Banks Bet Big on Risky Credit Card Partnerships, and are getting burned, but a doubling down !
Comment from : @lambertois11

Best are the cards with payback as cash into your account All other rewards are just more rip off spending traps
Comment from : @cyberslim7955

Oh no, I feel so bad for the banks!! lol
Comment from : @alfrredd

Kamala knows! "We invested an additional $12 billion into community banks, because we know community banks are in the community, and understand the needs and desires of that community as well as the talent and capacity of community"
Comment from : @briannat1086

The moment I go that card, I turned on pay in full every month Even before I made a single purchase No way am I going to let Wells Fargo get a dime from me I want to leech as much money as possible from them
Comment from : @theders311

The speaker in the video speaks in such a way that although it feels like what she is saying has value but isn't the case brbrOn a side note, looks like she is taking zoloft
Comment from : @vedantmundada8133

always find something new and useful in your lessons Thank you for sharing your experience and knowledge with us!
Comment from : @RoxanneTurner-o1z

Loving my Bilt card!
Comment from : @kerri5595

I like the idea of co-branded cards because you get exactly the benefit you want 5 on gas is no good if you don't have a car, but 5 on Amazon if you make tons of Amazon purchases is much more compelling
Comment from : @camdenmacleod16

chime accounts and green dot fraud
Comment from : @MatthewPaulBrackin

When the numbers don't add up it's not called risk, it's called stupid
Comment from : @apolodelsol

A single Apple titanium card cost $80 for Goldman Sachs
Comment from : @HenggaoCai

The Bilt Credit Card is the first time I actually want a Wells Fargo Card
Comment from : @HenggaoCai

If you are spending money you might as well get something for it as a perk !!
Comment from : @hdtravel1

Knowledge supports growth
Comment from : @Jahguaar

Companies should create their own credit card without partnering with banks
Comment from : @Srinivas-j7s

This is why Cryptos will rule the world! VISA and MasterCard with their ridiculous fees are unreal!
Comment from : @gxguy2906

I am using Bilt for rent and the fact that I am eating away from a big bank like Wells Fargo because of it, is so satisfying
Comment from : @robertfunk2189

It's frightening to hear "general purpose credit card"
Comment from : @tld8102

BILT is a huge branding L, they are out of touch with average consumers
Comment from : @lesliewubbel9157

The problems are with Visa and Mastercard with their ridiculous fees and their dominance on market
Comment from : @ArchangelTyrael

5:47 so it’s normal in the US for banks to sell their customer’s data? The EU doesn’t sound so bad now huh Can’t do that here It’s ridiculous anyway, you are already paying them to use their card or account but they still sell your data for even more profit Wow
Comment from : @ArchangelTyrael

"Oh oh the wells Fargo wagon is a'comin' down the street oh please let it be for me"oh oh the wells Fargo wagon is a'comin' down the street i wish i wish i knew what it could bring" "i got a box of maple sugar on my birthday""and i got me a grey makinaw" "and i got me some grapefruit from tampa:Montgomery ward sent me a bathtub and a crosscut saw"oh oh the wells Fargo wagon is a'comin"down the street oh please let it be for me"hahahai still know the words after 50yrswell done me
Comment from : @tonicalloway7227

My airline cobrand card gives me 10 redemption value if used for upgrades, now I assume these are actually good deal for us if banks are losing money on it
Comment from : @mii416

I like your content Interesting video
Comment from : @well-blazeredman6187

in my country there's a local payment network system established by the Central Bank (the default and mandatory for all merchants beside cash of course) they take 08 per transaction with a cap of $10 also VISA, Mastercard and Amex networks exists my question is in the US if I'm not mistaken there are only 3 payment networks (VISA, Mastercard and Amex) isn't that risky to have all your eggs in corporate basket? what happens if those companies decided to increase fees, face technical issues or simply they don't want to do business any longer, shouldn't be their a local government-backed payment system?
Comment from : @waleed8530

I would spend more money on my Bilt card if Wells Fargo did not suck as a bank, have terrible costumer service and actually had working apps
Comment from : @PedroOjeda

Sears shows what happens if you rely on these
Comment from : @AshAshAshAshAshAshAshAshAshAsh

i also decline to comment since everyone is doing it😂😂
Comment from : @mjsteezy7440

What happens to your credit score if the contract ends on one of these? Doesn't the card become useless?
Comment from : @chainy-b4w

This video is non explanatory, go into the details!!
Comment from : @yonatanteshome4701

things that are good for consumers are always "risky" for the banks 🙄
Comment from : @sterlingbxyd

BILT CHARGE ME EVEN THO I NEVER USE THE CARD AND WAS ALSO IN MY SAFE THEY SAID I HAVE UNAUTHORIZED CHARGES SOMETHING FISHY WITH BILT CREDIT CARD
Comment from : @alexzruss7257

knowing this hurts WF makes me want to open an account even more
Comment from : @Kevin-fn6rm

As someone who worked for bestbuy there should be a whole video on the Citi bestbuy card I’m convinced it’s reason both companies are still in business
Comment from : @braydenbutton5279

Partnerships is a very ambiguous language terminology
Comment from : @johnpatrickoldfield534

Sounds like fraud before its even started
Comment from : @johnpatrickoldfield534

Cobranded credit card never made much sense to me The only people who makes money is those who create the cards The guy who created Bilt founder was just flexing his multi million luxury vacation with his model GF
Comment from : @tooreal8968

Checkmate Dave Ramsey
Comment from : @drabberfrog

Thanks for meaningful and valuable video as always ❤❤❤
Comment from : @hayeonkim7838

The claim in the video at 3:19 is wrong Wells Fargo is not "eating" credit card transaction fees on rent payments They use a separate bank routing number to process your transaction like a normal checking account (with no fees) and display it as having happened on your card Wells Fargo is only paying Bilt for the cost of the rewards program (when users redeem points)
Comment from : @graysonpike112233

There will never be another credit card like Bilt ever again
Comment from : @moneeb343

The customer acquisition costs are low to have access to clients who will hopefully go on to get mortgages and do investing with their bank Co-branded cards will stay for a long time Delta cards account for 1 of US GDP
Comment from : @Lifeissorich

Nice video 😮brLove From Bihar
Comment from : @DataDost

💚
Comment from : @skullandbones1832

Risky business indeed, thanks for the insight! 💡
Comment from : @AndreaDoesYoga

Veo millones de asesinados
Comment from : @pedrolplgm

No nos cuenten mas trolas por favor gracias
Comment from : @pedrolplgm

Banks losing money GOOD!!!!!!! Banks been stealing from us for decades Biden is the only President to do anything for consumers being nickel & dimed to death by Bank fees, charges & interest Trump did the OPPOSITE! unless you count the tax breaks
Comment from : @hughjaass3787