https://www.bloomberg.com/news/articles/2021-06-08/wells-fargo-s-scharf-goes-on-offense-with-new-credit-card-lineup
21 replies (most recent on top)
We had a few other efforts at commercials but they were marketing flops in the consumers eyes. There was that same s-x couple adopting a child, the one with dogs in it that Sloan hyped up, and I think we had a commercial showing off actors we portrayed as team members…err I mean employees.
Our ads are all weak and utter failures, except the ones that are WF Advisor ads, those are good. Otherwise our ads are worse than that Burger King “Herb” ad or the P-o Chips ad with Ashton Kutcher where he wore brown face and pretended to be Indian. (And BR or one of her relatives probably thought those up.)
Your example would work if millions of walkmans were in use every single day. Credit cards aren't going anywhere for quite some time. What % of purchases from businesses in the US involve a card / card #? Lots, and it's still growing. So long as that's the case, it's a business WF should be in.
We need some new marketing. Capital One with Samuel L Jackson is good but aside from the last round of apologizing for being a-holes, we have nothing which seems odd for a consumer bank.
Zero innovation with this announcement. There’s just only so many ways you can polish a tu-d.🤷🏻
This is what 20.4 million dollars got us in 2020 is it? (Chainsaw's salary)..
This is why so many people have a problem with capitalism......
oooh, but it going to attract all of the 'pragmatic strivers' - who likely already have 4 cards in their pocket like this one. but the cute redhead can reap her 6 figure salary and then leave after building an unprofitable portfolio. but she grew WF marketshare, right?
@kpz+1bfCvrNp Sure, but wouldn’t it be nice if they came up with something that hadn’t already been done, and done better, by everyone under the sun?
Is a slightly modified rewards program and updated card design really something to get excited about?
I guess when playing catch-up is all you’ve got….
they are going for growth, would you rather they do nothing, this is a good thing
Wow. At this rate we might even catch up to the Apple Card sometime next century.
Unless they open up a platform to trade cryptos, this ground breaking credit card gig is old news. I'm not sure what is so 'wow' about it.
Does this mean no layoff in Credit Cards area?
Last I heard, Wells Fargo’s Robo-Advisor is a total bust. We do very minimal trades per day through It.. And it’s FREE!!!! Can anyone say “late to the party, AGAIN!!”
WFC, JPM, BAC still pushing Zelle. Does anyone know anybody who uses Zelle?
It might be a regional thing, but everyone I know uses Venmo.
I’m chuckling over Charlie calling the issuing of new credit cards “going on the offense”. That’s like Sony getting excited over issuing new Walkmans.
This (supposed) Leadership team is just recycling the ideas of the past. From the decentralizing of Compliance to the reshuffle of the LOB configurations to let's throw out a 'new' credit card. Consumers have made it very clear that they do no want a Credit Card from this merry band of crooks.
For the cherry on top, let's dangle sale incentives to the Bankers to sell this to our current customer base...what could go wrong?
WF should be renamed TransNation Bank with a rainbow for the corporate logo. Then have a reorg with one LOB called Bank, Lending, Mortgages, BLM for short.
We are very late in the game .. But I am happy we are expanding this portfolio and not just focusing on Mortgages ..
Oh wow 2% cash back and no annual fee. What an amazing card.
I'll keep using my costco credit card and getting more cash back along with better customer service.
Better luck next time, WF.
Noticed no stagecoach on the new cards.
On one hand - I agree that the stagecoach is not a good symbol for a company attempting to bring it’s image in to the twenty first century. On the other hand - Charlie let’s us know in many ways that he hates everything associated with Wells Fargo. I think he would change the name if he were to get the blessing of stakeholders.
Agreed. Very original.
Dunno about ground breaking, but there's no question that this is a space WF should have been putting more effort over the years. Yeah the future will probably be newer methods of payment, but the vast majority of transactions these days still occur with plastic, or the numbers off of the plastic. Either way, it's a place WF should be doing better than we traditionally have.