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Written by: RJ
In a recent interview about cutting mortgage operations, Ally Banks top boss also tossed in a hint at credit cards:
Rhodes also indicated in December that the credit-card business wasn’t a core focus for the bank. In an email to Banking Dive, Gilchrist said Ally was exploring “strategic alternatives” for its credit-card business in the first quarter.
Thoughts
Not surprising but a bummer. When Ally got back into the card business there were high hopes. As they’d acquired the Ollo portfolio that had a 3x card in the mix. Ally cards never took off or opened up to all customers.
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With over 15 years of experience in financial services and more than 5 years creating financial content on YouTube, RJ is the creator behind RJ Financial, Run on the Bank, and Profitable Content.
A self-proclaimed credit card degenerate, he covers credit card rewards, bank promotions, welcome bonuses, and the latest financial news. His approach is simple: cut through the marketing hype, highlight profitable opportunities, and help readers make the banks’ money their money.