Has it completely changed the game and saved the bank?
13 replies (most recent on top)
Open a checking account and you get a free credit card account, we take care of the application for you.
I agree and I think Charlie would agree. He has said from the beginning that the focus will be on “core” banking products. Nothing that has been done up to this point has been a surprise I think.
Post ID: @uct+1cjSu8bF
Apparently other companies see value in everything that Charlie does not see value in and has sold. In the end, other companies are confident that they can properly run and succeed in profitable businesses which Charlie has no confidence he can succeed in. Sad, really. Every LOB he has eliminated was profitable and not involved in any of the scandals.
That's what I was getting at in the last sentence. I agree.
The direction is quite simple here folks... All it takes is reviewing Chase’s credit card collection and researching their success in the credit card industry over the years. WFC wants a piece of it.
Post ID: @omg+1cjSu8bF
Not disagreeing 100% with you, but Charlie is shunning other profitable.businesses such as International Wealth (just ask the high producing FAs who have left the firm since that decision) and Asset Management.
Maybe it is Charlie’s way of admitting that he doesn’t have what it takes to lead anything more complicated than a piece of plastic.
Credit cards may be 'old tech', but they will be the primary payment method for a large majority of the population for many years to come. We should be in that business and we should seek all the market share we can get. Shunning profitable financial products is not something we should be doing, especially right now.
I’m surprised our execs at WFC haven’t decided to invest in cable tv 😂. If Wells Fargo is just now picking up on a trend, it’s a sure sign that trend is already on it’s way out.
IMO, if there is one shining spot within WF….it’s cards. They are developing new products and it’s an area that is hiring like A LOT. Leadership has a very strong desire to grow its CC portfolio.
"in" before some tool comes in to complain about the Olympians that did the commercials for the new card. Some of you hate everyone even remotely associated with WF, likely including yourselves.
It's a great card, replaced my 1.5% CB Cap1 card with it. I still use the 'category cards' to get 5%, but for the vast majority of my card use it's the new WF card. If you don't like it's benefits, don't get one. Pretty simple. I'm not sure anyone billed it as "revolutionary" or 'company saving', just a good product in a space that WF has traditionally been non-competitive in.
Did you expect it to change the game and save the bank?
I received my cheap promotional backpack on time