Just received an updated copy of my credit card agreement, it states that both MBNA and Bank of America cards will begin being issued and administered by FIA Card Services effective October 19th. Speaking with a Bank of America representative I was told that former MBNA cards would continue to use the same system, but the fact they are converting Power Rewards cards to WorldPoints cards has got me quite confused. It seems that all signs point to the end result being shown on October 23rd, so I am quite curious to see what all changes.
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adiganifatwallet said:what is FIA stands for? I tried googling with no result on the first page
Spoke with a representative from Bank of America and he said it is not an acronym for anything.
Hc000 said:whats going to happen to my power reward points ???
The representative said all points will be carried over.
More information on the systems, he stated they will be using NetAccess, MBNA's online banking service. I believe he also stated that not all cards will be switching to FIA?
I am wondering why the application for Power Rewards is still available if they plan to convert them all to WorldPoints cards, that would seem to be a waste of time because they will have to send more stuff.
Note that my MBNA Fidelity 529 2% Back College Rewards card is already run by FIA so I dont think much will be in this change. I still have the famous MBNA billpay so I doubt any major changes are in the works.
FDIC Bank FindHistory of Fia Card Services, National Association, Wilmington, Delaware (FDIC Cert: 33318)
Date Event 1 1/29/1991 Institution established. Original name: Mbna America, National Association (33318) 2 1/30/1991 Changed its name to Mbna America Bank, National Association (33318). 3 1/5/1996 Changed its organization type to Credit Card Bank. 4 6/1/1996 Moved bank headquarters from Newark, Delaware to Wilmington, Delaware. 5 3/29/1999 Acquired Pnc National Bank (34425) in Wilmington, Delaware. 6 6/10/2006 Changed its name to Fia Card Services, National Association
efficacyman said:Note that my MBNA Fidelity 529 2% Back College Rewards card is already run by FIA so I dont think much will be in this change. I still have the famous MBNA billpay so I doubt any major changes are in the works.
What's with the "famous MBNA billpay" unless I am missing something? Thanks!
what happened to the IBS that schwab and other banks used?
I think to not compete with Schwab and other smaller banks and affiliations that cannot be directly associated with BOFA, they must operate as a separate entity (FIA). Which is still kinda lame if say Sumtrust(made up) bank was using FIA owned by BOFA. There is still conflict of interest but who knows.
FIA (MBNA) sent agreement mods out today... some people are noting that they are rate jacking... if you recently had a 0% APR, and balance carried forward after the promo period, then rate went to index plus 11% or so (~19%).... HOWEVER, if you are on the high end of utilization, the rate is being JACKED to index PLUS 16%... which is a 24.99% RATE!!!
who cares what they decide to raise the standard APR to... it could be 40% i dont care, i dont pay standard rate balances.... and no one in this forum should either
BTW my Merill and Schwab MBNA/FIA cards still have the absolute lowest standard APRs, under 6% for Merill
rigor said:I think to not compete with Schwab and other smaller banks and affiliations that cannot be directly associated with BOFA, they must operate as a separate entity (FIA).
SUCKISSTAPLES said:who cares what they decide to raise the standard APR to... it could be 40% i dont care, i dont pay standard rate balances.... and no one in this forum should either
BTW my Merill and Schwab MBNA/FIA cards still have the absolute lowest standard APRs, under 6% for Merill
Anyone get this email today from checkfree? I'm not sure if this is from MBNA Billpay or mycheckfree.com: As of October 20, 2006, you will no longer be able to receive e-Bills for your Merrill Lynch account ending in 2507. You will continue to receive paper statements from Merrill Lynch, and you may continue to pay your bill using your online bill payment service.
Please note that any automatic payments based upon the delivery of your Merrill Lynch e-Bill currently scheduled will be sent as instructed. As of October 20, 2006, no additional payments will be automatically scheduled based upon the delivery of this e-Bill.
We apologize for any inconvenience this may cause.
If you have any questions about receiving e-Bills, please contact Merrill Lynch using the phone number printed on your statement. Please do not reply to this automated message.
Got one for another MBNA card too. Wonder if this means they are merging into the BOA website. I hope this doesn't mean billpay is going away!
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