Title | : | Why Banks Bet Big on Risky Credit Card Partnerships | WSJ |
Lasting | : | 8.04 |
Date of publication | : | |
Views | : | 398 rb |
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It isn’t easy for students to get a credit card anymore Here’s what to know: onwsjcom/3AqURvC Comment from : @wsj |
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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 |
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Yeah, got some cashback last weekend It’s like getting a second chance which is pretty neat Comment from : @ValarieLovejoy |
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Definitely considering it, especially with cricket season in full swing Could use that bonus for some extra bets Comment from : @DeramSerkan |
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The welcome bonus is a great deal got me started with extra funds to play around with Comment from : @YusufAsudan |
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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 |
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I'm waiting for the weekend they often have special promos for wheel games Comment from : @KarlBurleson |
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Their live game shows are a blast got a bonus just for participating in a quiz Comment from : @SibelMelike-k1z |
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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 |
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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 |
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They’ve also got cashback offers, which are great for those unlucky days Have you used any of those yet Comment from : @YungVargo |
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Wells Fargo should stop crying Comment from : @blacksuite1 |
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If you have to sell my date to make money you failed as a company Comment from : @jeremybeaverson7167 |
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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 |
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4:10 they didn't expect them to use a card marketed for rent forrent? Comment from : @shady8099 |
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Our economy is just made up bro I swear to god Comment from : @shady8099 |
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Dotcom bubble❎ brCreditCard bubble✅ Comment from : @Parapresdokian |
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полюбил я эту сферу, нормально получается поднимать по таким связкам, приватки дают тоже Comment from : @chandanadhikary3258 |
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I have both visa prime and bilt Comment from : @sanz1996_ |
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📝 Comment from : @STOCKUPBUILDINGWEALTH |
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Nice one Comment from : @GiftUkure-r7s |
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There is no risk for them, they always get bailed out by the government Comment from : @EduardoSanchez-un2hh |
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Cc are not riskythey are most rewarding for banksmimimum interest rates over 36😢 Comment from : @njoy177 |
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Does this include Putin's friends who guarantee the repayment of Trump's loans to Deutsche Bank? Comment from : @elzo_smid |
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So basically this is the sub prime lending fiasco all over again Comment from : @girlie89 |
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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 |
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I've been using your strategy for a few weeks now and it's been working great Thank you so much! Comment from : @tarayazdanparast2199 |
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Harris Angela Gonzalez Brenda Martin Kenneth Comment from : @AliciaNeal-r3b |
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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 |
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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 |
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Oh no, the trillion dollar banks are losing millions What a tragedy Comment from : @agent0422 |
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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 |
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Interesting that IHG hasn't had a UK co branded credit card in the UK for a while Comment from : @edwardpickering9006 |
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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 |
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Well that Walmart card for Capital One was good while it lasted Comment from : @DarkJustice1999 |
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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 |
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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 |
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And consumers win for once Lots of signup bonuses to chase Comment from : @iphone3gs96 |
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Why Banks Bet Big on Risky Credit Card Partnerships, and are getting burned, but a doubling down ! Comment from : @lambertois11 |
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Best are the cards with payback as cash into your account All other rewards are just more rip off spending traps Comment from : @cyberslim7955 |
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Oh no, I feel so bad for the banks!! lol Comment from : @alfrredd |
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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 |
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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 |
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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 |
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always find something new and useful in your lessons Thank you for sharing your experience and knowledge with us! Comment from : @RoxanneTurner-o1z |
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Loving my Bilt card! Comment from : @kerri5595 |
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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 |
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chime accounts and green dot fraud Comment from : @MatthewPaulBrackin |
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When the numbers don't add up it's not called risk, it's called stupid Comment from : @apolodelsol |
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A single Apple titanium card cost $80 for Goldman Sachs Comment from : @HenggaoCai |
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The Bilt Credit Card is the first time I actually want a Wells Fargo Card Comment from : @HenggaoCai |
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If you are spending money you might as well get something for it as a perk !! Comment from : @hdtravel1 |
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Knowledge supports growth Comment from : @Jahguaar |
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Companies should create their own credit card without partnering with banks Comment from : @Srinivas-j7s |
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This is why Cryptos will rule the world! VISA and MasterCard with their ridiculous fees are unreal! Comment from : @gxguy2906 |
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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 |
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It's frightening to hear "general purpose credit card" Comment from : @tld8102 |
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BILT is a huge branding L, they are out of touch with average consumers Comment from : @lesliewubbel9157 |
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The problems are with Visa and Mastercard with their ridiculous fees and their dominance on market Comment from : @ArchangelTyrael |
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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 |
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"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 |
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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 |
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I like your content Interesting video Comment from : @well-blazeredman6187 |
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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 |
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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 |
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Sears shows what happens if you rely on these Comment from : @AshAshAshAshAshAshAshAshAshAsh |
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i also decline to comment since everyone is doing it😂😂 Comment from : @mjsteezy7440 |
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What happens to your credit score if the contract ends on one of these? Doesn't the card become useless? Comment from : @chainy-b4w |
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This video is non explanatory, go into the details!! Comment from : @yonatanteshome4701 |
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things that are good for consumers are always "risky" for the banks 🙄 Comment from : @sterlingbxyd |
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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 |
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knowing this hurts WF makes me want to open an account even more Comment from : @Kevin-fn6rm |
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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 |
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Partnerships is a very ambiguous language terminology Comment from : @johnpatrickoldfield534 |
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Sounds like fraud before its even started Comment from : @johnpatrickoldfield534 |
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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 |
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Checkmate Dave Ramsey Comment from : @drabberfrog |
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Thanks for meaningful and valuable video as always ❤❤❤ Comment from : @hayeonkim7838 |
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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 |
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There will never be another credit card like Bilt ever again Comment from : @moneeb343 |
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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 |
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Nice video 😮brLove From Bihar Comment from : @DataDost |
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💚 Comment from : @skullandbones1832 |
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Risky business indeed, thanks for the insight! 💡 Comment from : @AndreaDoesYoga |
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Veo millones de asesinados Comment from : @pedrolplgm |
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No nos cuenten mas trolas por favor gracias Comment from : @pedrolplgm |
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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 |
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Banks control trillions Theyll be fine 😂 Comment from : @Wllp61561 |
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Its almost like Rent is an extremely important financial burden for young people or something Comment from : @LordDraconical |
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