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AMEX could negotiate their transaction fees down, right? Walmart is very well known for playing hardball with suppliers, so maybe they give credit card companie

• MissingGear 10y ago
  Costco Canada dropped Amex two years ago [1] and I was stuck with an Amex card which is not as widely accepted as Visa or Mastercard. Amex tried/are trying all kind of tricks to not have these cards closed. The best one yet was zero percent for one year - I had colleagues max the card and put that money in their savings account just for the one year interest. You bet that Walmart negotiated an excellent rate with Amex. [1] http://www.moneysense.ca/spend/credit-cards/costco-american-express-part-ways http://www.moneysense.ca/spend/credit-cards/costco-american-...
  • forgetsusername 10y ago
    >I had colleagues max the card and put that money in their savings account just for the one year interest. I'm skeptical, since "cash advance" usually has its own stipulations regarding interest rates, and is capped below your credit limit. All for, what, $150 annually per $10,000 in arbitrage? That's an hour of work for many people here.
    • ssharp 10y ago
      Before the housing crash and subsequent credit tightening and lower interest rates, you could get 5% on a standard savings account. That, coupled with negotiating no fees on a 0% balance transfer check could was more lucrative. I can't imagine it being worth the hassle and short-term credit hit for the paltry savings rates today.
• tehwebguy 10y ago
  Right, and AMEX already has a relationship with Walmart including a co-branded financial product offered in-store.