Bank of America to Offer American Express Black?

I know this might seem like an April Fools joke, but it's not.

A coworker of mine was on the phone with our premier banking rep (we have the same one), and the rep told him that BoA will be 'rolling out a black American Express in April.'

I e-mailed her for more details, and this is our exchange:

----------------------------------------------------------------------------------------------------
-----Original Message-----
From: BOA REP
Sent: Wed 3/21/2007 4:50 PM
To: goalkeepr
Cc:
Subject: RE: New AMEX in April?

I believe all annual fees are going to be waived.

"Act as though it were impossible to fail." Winston Churchill


Thank you,

BOA REP
Client Manager

Striving to provide a perfect 10 in Client Satisfaction.
Please let me know how I can help you plan for your financial future.

_____

From: goalkeepr
Sent: Wednesday, March 21, 2007 4:43 PM
To: BOA REP
Subject: Re: New AMEX in April?

Oh, and the $2500 annual fee will be waived, I hope?

-----Original Message-----
From: BOA REP
To: goalkeepr
Sent: Wed Mar 21 16:29:29 2007
Subject: RE: New AMEX in April?

I will in a few weeks. And, yes it is the same card you are thinking of with AMEX. Invitation only with a lot of perks!

"Act as though it were impossible to fail." Winston Churchill


Thank you,

BOA REP
Client Manager

Striving to provide a perfect 10 in Client Satisfaction.
Please let me know how I can help you plan for your financial future.

_____
From: goalkeepr
Sent: Wednesday, March 21, 2007 4:15 PM
To: BOA REP
Subject: New AMEX in April?

Howard mentioned that BOA will be rolling out a new AMEX next month.

I was doing some research on the AMEX Black (Centurion) and I am thinking that can’t be the same level of card.

Do you have any more information on this new card? Is it just another ‘signature-level’ card to add to the lineup, or is it a better, super cool, card?


Thanks!

goalkeepr

I don't think this is credible. Think of the cost of the services provided by American Express Centurion.

How does one get a premier banking rep at Bank of America?

This is the 2X someone over the last 2 weeks started a thread similar to this. Funny thing is I have BOA PB account I asked my PB about this 10 days ago or so when someone reported it first on here. He said he never heard about it.

Premier customers have $100K+ cash/brokerage or $500K mortgages with BOA.

PB is $5 Million cash/brokerage.

And you would think BOA would give there PB customers this card before there Premier customers just like Citi did/is doing with there new Chairmen card. PB customers are got the orginal Chairman card first before anyone else.. and are getting the new one first also before general public.. Would think BOA does same thing with new " Black AMEX" card.

Unless this is just an AMEX branded Black card like ones issued from USAA and MBNA Currently which are fee free AMEX cards that just happen to be black but have no travel benfits at all.

LustfortheMoment said: PB is $5 Million cash/brokerage.

I lovvvvvvvvvvvvvvvve reading threads about rich guys. Perhaps the Donald will be posting here soon. Of course, I don't feel that 5 MIL goes nearly as far for me as it did in the past. Perhaps I should become a BofA PB customer as well............

Any reaon why any time anyone with any money post any relevent information about high dollar accounts you fell the need to mock them? Is that most of your johns just dont tip you well so there for you dislike anyone who makes more than $10 bucks an hour. That is the going rate for your services right?

You know this was going to be a thread about high net worth clients at a min as you really can not be that stupid to think BOA is going to issue AMEX Centurion cards to every illegal alien or account holder.

LustfortheMoment said: PB is $5 Million cash/brokerage.

I lovvvvvvvvvvvvvvvve reading threads about rich guys. Perhaps the Donald will be posting here soon. Of course, I don't feel that 5 MIL goes nearly as far for me as it did in the past. Perhaps I should become a BofA PB customer as well............
You should call yourself "DroolForTheMoney"

ScootyPuffSr said:
I know people defend LFTM as just not having a popular opinion but after comments like this I don't see how she can be anything but a troll.

If you work hard and make lots of money then you get mocked. If you BT invest then you get mocked for not working hard and making lots of money. If you make lots of money and BT invest then you get made fun of for both.

On top of that LFTM practices BT arbitrage then chastises those who do the exact same thing for wasting their time and not having the guts to do real investments.

wanted to give her the benefit of the doubt, but yep, she's a troll. it may be time to stop feeding her.

LustfortheMoment said: PB is $5 Million cash/brokerage.

I lovvvvvvvvvvvvvvvve reading threads about rich guys. Perhaps the Donald will be posting here soon. Of course, I don't feel that 5 MIL goes nearly as far for me as it did in the past. Perhaps I should become a BofA PB customer as well............

in the words of biggie smalls, jealousy is a motherf*cker.

I find this hard to believe for several reasons -

Why would AMEX further dilute the perceived exclusivity of Centurion by allowing a BOA-branded Centurion card, especially one with no fees?

Why would BOA skip the profitable Green, Gold, and Platinum cards and only offer Centurion, the tier with the fewest number of potential members? Do they really have that many customers at that level of spending that don't already have Centurion from AMEX, but would take it from BOA?

Centurion is strictly a charge card, not a credit card, and BOA has never been in the charge card business.

If this BOA rep has any idea what they are talking about, which they may not, my guess would be that BOA could be releasing a black-colored AMEX, but it would essentialy be the equivalent of a "BoA Chairman" card, with the AMEX logo instead of the Mastercard logo, and will offer high-end benefits but not quite the level of service that AMEX Centurion members get. That way they can compete for the Citi Chairman market, but they will also pick up a lot of people who just desperately want a black-colored card that says American Express on it, regardless of what the benefits are.

LustfortheMoment said: I actually DON'T have a problem with folks who make a lot of money; I just laugh at those on this forum who feel such an urgent neeeeeeeeeeeeeeeeed to broadcast their good fortune to others. In Boston, we consider such behavior to be gauche.........If anyone is being gauche here, your first post was the most qualified. You were the first to steer the conversation away from topic of discussion and inject the first jeer: "I lovvvvvvvvvvvvvvvve reading threads about rich guys."
Not that there's anything wrong with that. I enjoy entertaining banter on FWF, but at least acknowledge your actions.

LustfortheMoment said: I actually DON'T have a problem with folks who make a lot of money; I just laugh at those on this forum who feel such an urgent neeeeeeeeeeeeeeeeed to broadcast their good fortune to others. In Boston, we consider such behavior to be gauche.........

You do know this is finance forum, right? Do you know what get's talked about on a finance forum? Bingo, Finances. I never new anything about PB banking till I came here and thanks to people like Dolmar I now know a good deal about that and things like VRDN's. Was he bragging? Did not sound that way to me. One of the great things about an anonymous forum like this is the ability to talk about things you generally would not talk to anybody else about. I don't even discuss my finances with my wife. I could see your point if I thought you were referring to someone not adding anything useful and just bragging but I don't see that here on FW. Once again I believe in general you are a helpful poster so why not just cut this other crap out?

First off it isn't up to you, LFTM, to decide what is discussed in this forum.

Secondly, anything that returns less than $20,000/year gets laughed off as peanuts, mechanical, and stupid.

Thirdly, anything that requires more than $100,000, probably even $50,000, to get involved gets mocked for being rich dudes bragging about account most can't qualify to get.

Finally, individual stocks and mutual funds aren't allowed to be discussed.

So to pass the LFTM Test, the only finance deals have to be much more than $20K but much less than $50K and for forum purposes can't be stocks of funds.


The funny thing is I don't remember LFTM supplying ANY deals, let alone ones that pass her own criteria.

Lustig, put down the twinkie and please stop eating over your keyboard.

Your keys keep getting stuuuuuuuuck and make your posts appear even more asinine/obtuse than normal.

LTFM bragging about using 0% BT money to pay down her HELOC. What a poser.

And it was just since citi stopped 5% on EDP. I guess that "real" arbitrage must have been a dud. If I'm not mistaken, that was right about the time she was blasting anyone who likes to make risk free real money. I guess her risky real profits must not be so good if she carries money at HELOC rates.

GWIM, Card Services partner to offer Accolades™ American Express® card
03 Apr 2007


Global Wealth & Investment Management (GWIM) and Bank of America Card Services have partnered in the development and launch of the new Bank of America Accolades American Express card, the first Bank of America credit card product designed for GWIM’s affluent and wealthy clients. The Accolades Card will be broadly offered to GWIM clients in May.

“This is the first time the new Card Services organization has developed a card especially for another line of business. We expect that the success of the Accolades card will mark the beginning of a new generation of Bank of America credit card products that leverages integration opportunities across the enterprise,” said Bruce Hammonds, Card Services executive.

The Accolades card provides the highest level of service Bank of America can offer — superior rewards and unparalleled benefits. Clients with more than $100,000 in deposits and investments will be invited to apply, and the $295 annual fee will be waived so long as the client maintains a relationship with Bank of America.

Developed based on associate and client feedback, the Accolades card offers GWIM clients premium servicing and custom features that include elite travel discounts, complimentary access to select airport lounges, companion travel benefits, identity theft protection and dedicated concierge. For clients of The Private Bank and Family Wealth Advisors, the product offers the option of a branded card and access to a charity matching program.

“This innovative new product provides us with an opportunity to deepen existing client relationships and attract new relationships while showcasing the GWIM-branded client experience,” said Global Wealth & Investment Management Products Group President John Bahnken. “The features of this card align with GWIM’s goal to deliver a reliable, predictable high quality experience to every client that will become synonymous with our brand — what we stand for, what we’re known for, what makes us our clients’ first and repeated destination for trusted advice, comprehensive products and services, and strategic solutions.”

Bank of America executives, GWIM leadership and GWIM client-facing associates received an advance invitation to apply for the card so that they can experience the value and benefits of the card for themselves. GWIM client-facing associates have been encouraged to draw on their firsthand experience when they talk to their clients about why the Bank of America Accolades American Express card provides them with an ideal solution for their day-to-day and major purchasing requirements.

Oh my, Dolmar. I like that last line of yours. I've committed to memory for usage the next time I make one of my social commentaries.

dolmar said: Man I think LustfortheMoment should considering going to NYC to meet and possible date Prentiss. Both are in dire need of serious antidepressant drug and Methylphenidate which are used to treat Attention-deficit hyperactivity disorder. One thinks there is a conspiracy after him and other thinks anyone who posts any information about high dollar accounts is bragging. Their off spring would be one wacky bunch of kids. She is about as wacky as him just in different way. They both think Republicans are evil, more than likely love Hillary, believe in wealth redistribution, both work with public except one screws public and other one gets screwed by the public.

dolmar said:

That sounds a lot like the old MBNA Platium AMEX Card which carried a $295 annual fee. The card had limited travel benfits, and a conceige service, access to some airport lounges with partner airlines and not priority pass like Centurion Card, participated in World Points which in my opion is by far one of the worst reqards program as it redemtion are even more limited than Citi Thank You network when it comes to travel as they only offer you choice of either 25K points for coach ticket or penny a point option. And the card earned 1:1 on everything except 2:1 on travel.
Thanks for the review but what I need to know is will it impress the chicks? If not will either hold out for the black card or just continue stuffing a sock down my pants

I just got back from my local BofA and as I was walking out of the lobby I noticed a sign offering BofA's AMEX card. I commented to my wife that I thought it was odd that they were offering an AMEX. As I recall, the card looked like a platinum card however (definitely not AMEX Black, that would have caused me to stop and investigate).

I'll look closer nexgt time i'm in.......

murthybvs I am looking on BOA web page it not listed on there anymore. I remember getting an offer for a "AMEX Plaitum from MBNA" which claim to have benfits close to AMEX Charge except it carried a $295 annual fee vs $400 for AMEX Platium Card. It had some limited travel benfits like I said and some other stuff. Big reason I did not like it is because World points in my opinion is junk. I really dont like Citi "Thank You points" either except I get them for free by banking with Citibank. Now if BOA starts to give World points for free like Citi. I will use those points for free GC for Best buy like I use my Thank You points.

Has anyone else tried to talk to a BofA rep to see if this is coming. I tried mentioning it, but didn't get a good response back from the CSR.

Why on earth are they calling it the "Bank of America Rewards American Express credit card" instead of "Bank of America Accolades American Express"? I notice my Online Banking accounts overview for the card no longer has the word "Accolades" in it, just Bank of America American Express Card", which may or may not be significant.