Schwab ending card sponsorship - says no terms change though

esliltheorem said:   A friend of mine that has this card got an unsolicited Black Visa to replace his Schwab Visa. New number, same rewards. Anyone else?This has been reported bf. The "black" card just refers to the replacement card's color (black). I do not think it is the true "black" card from Visa.

edit to fix spelling.

gwu1986 said:   esliltheorem said:   A friend of mine that has this card got an unsolicited Black Visa to replace his Schwab Visa. New number, same rewards. Anyone else?This has been reported bf. The "black" card just refers to the replacement card's color (black). I do not think it is the true "black" card from Visa.This happened to me as well. The enclosed piece of paper indicated they had to reissue some card numbers as an unnamed merchant had their system hacked and CC numbers were compromised. Basically once FIA repalces your existing Schwab branded card (whatever the reason), you will get the black "Cash Rewards" visa card.

Received email today offering $25 statement credit after $199 on purchases at golf, spa, or country club by September 30. Details below. Not quite the rotating category deal, but close.

Earn a $25 statement credit
after qualifying purchases by September 30, 2011*
Use your Visa Signature® credit card to earn a $25 statement credit after you make golf course, country club, and health and beauty spa purchases totaling $199 or more. Simply register and use your card for qualifying purchases by September 30, 2011.

esliltheorem said:   I received something from BofA today telling me that soon I'll receive a new card. No word on whether the benefits will be changing, but they remain at least until I get the new card.

This is being discussed in the main Schwab card thread: http://www.fatwallet.com/forums/finance/883571/

Well, its officially gone. Schwab sold to FIA and now FIA has sold to Bank of America. Bank of America is notifying customers that as of November 1 cards need to be changed over to their Privileges card and the rewards system is changing - and discontinuing the Schwab link. Guess its time to switch to that Fidelity AMEX

i3izkit311 said:   Well, its officially gone. Schwab sold to FIA and now FIA has sold to Bank of America. Bank of America is notifying customers that as of November 1 cards need to be changed over to their Privileges card and the rewards system is changing - and discontinuing the Schwab link. Guess its time to switch to that Fidelity AMEX

er, no selling involved here. Schwab CONTRACTED Fia to provide a branded card. There was no "sale" - then Schwab abandoned the program. (my guess is they were "paying" the premium for the last year as part of the severance of the programs even though they dropped their name)

FIA has been owned by BofA for years. Well before the did the Schwab deal. (as someone stated above, FIA was what they used as a servicer for other bank products)

I just got off the phone with them and they said the 2% was going away, but didn't say anything about an opt in 2% option. They said you could convert their vanilla card to a 1%/2%/3%(general/gas/food) or a 1% with rewards on rolling categories.

I agree with you, though. That 2% is what keeps me using this card. I'll post about what I find, please do the same.

The across-the-board 2% CashBack bonus will certainly be history before the year's out - everybody deal with it already.