Banks challenge WalMart Prepaid Card Sales - Bluebird

Discussion in 'Other Credit Card Programs' started by garyst16, May 8, 2013.  |  Print Topic

  1. garyst16
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    garyst16 Silver Member

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    The Federal Advisory Council, a group of banks including PNC Financial Services Group and BB&T, told the Federal Reserve at a meeting in December that Wal-Mart's sales of prepaid cards warranted greater federal oversight, according to meeting minutes obtained by Bloomberg and cited in a story published Wednesday.

    As if to taunt the banks, Wal-Mart immediately followed up the council's request by partnering with American Express and offering a prepaid card called Bluebird. While similar to a card offered by JPMorgan Chase. Bluebird raised eyebrows among banks by detaching itself from banks entirely. Wal-Mart says its partners like American Express are already regulated, but the banks aren't having any of it.

    http://money.msn.com/now/post.aspx?post=e27c3940-5a47-467e-b558-568c5ce28d5f
     
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  2. gleff
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    gleff Co-founder

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    Story is factually wrong that a December 2012 meeting was 'followed up by' the launch of Bluebird, since Bluebird predated the meeting.

    It also neglects to mention that Bluebird deposits are transferred to Wells Fargo bank...
     
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  3. marcwint55

    marcwint55 Gold Member

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    Dear Uncle Sam,

    Please do not f--k with my 60,000 miles per year from Bluebird.
     
  4. euromannn
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    euromannn Gold Member

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    Can you share the many ways to reach 60,000 miles?
    Do you make $60,000 worth of purchases in one year?
     
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  5. MX

    MX Gold Member

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    You meant "Uncle Ben" :D
     
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  6. viguera
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    viguera Gold Member

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    There are quite a few ways you can earn miles without actually having to purchase something. I think a few people use mileage-earning debit cards to reload on the machine at Walmart then withdraw the money.
     
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  7. Scottrick
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    Scottrick Gold Member

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  8. marcwint55

    marcwint55 Gold Member

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    delta sky miles debit card from SunTrust bank. transfer 5k per month to Bluebird and pay bills that do not normally take credit card payments.
     
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  9. euromannn
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    euromannn Gold Member

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    What bills do you have that total 5k/month?
    Mortgage?
    Car?
    Food, utility = $750/mo?
    Entertainment = $150/month?

    What gets you to $5,000/month is costs? Must make $150,000/yr and very well fed!;)
     
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  10. euromannn
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    euromannn Gold Member

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    I do not shop at Wal-Mart, 15 miles away and do not enjoy the store or parking lot.
    But......I might have to learn how this gimmick works to earn FF points.
     
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  11. karlmitchell

    karlmitchell Silver Member

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    euromannn: just google "Bluebird miles". There are hundreds are articles out there. I'd recommend the ones on thepointsguy.com for their clarity. Stepping inside a Walmart isn't required, although it does make some things easier.
     
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