Any Wells Fargo bank member knows that they like to push their credit cards on their customers. I've almost never logged on to my account without seeing an advertisement for their bonus cash back credit card offer, nor have I attempted to anything with their customer service in which said card wasn't brought to my attention.
Well according to the Wall Street Journal, Wells Fargo doesn't think all of that pushing - which has driven an increase of 31 percent to 35 percent of total customers using a Wells Fargo credit card over the last year - hasn't worked nearly as well as it ought to.
CEO John Schumpf said in an interview last week that the company should "double our share" of credit cards, which means that customers like me (and quite possibly you) can expect to receive even more credit card offers from personal bankers, tellers, and our account login screen.
(Allow me a moment to sigh loudly before I move on to the next paragraph...)
As the article explains, non-Wells Fargo customers won't get hit with a ton of credit card offers; rather, it will be the current customers that bare the brunt of this new push. Though as a current customer, I find it hard to believe that simply pushing the current customer base only will far from "double" the share, as Mr. Schumpf is hoping for. Major credit card issuers like Chase and Bank of America go well beyond their current customers with credit card offers, and in my estimate Wells Fargo will have to do the same to become the type of player it seemingly wants to be in the world of credit card offers.
In the meantime, I'll continue to use the walk-up ATM to deposit my checks and avoid the onslaught of credit card offers...
