I very much hope that the benefits listed on the website represent just a small portion of the benefits. Just like you said, no Priority Pass, no upgrades/complimentary companion tickets on major airlines, no status with a variety of hotel chains... I like the fact that Preferred Hotels is a member, although it has been losing members as of late (Secrets Resorts has, for instance, sold its Secrets Excellence to Excellence Group, which is not a member of Preferred Hotels). There's no Ritz or Four Seasons; the Intercontinental and Fairmont inclusions are great, but there aren't enough of them out there. Overall, the benefits seem quite limited -- this is not even in the vicinity of the benefits offered by AMEX Platinum.

Sorry dolmar,
I wasn't trying to be annoying. I cut and pasted from the wrong post.

I'm waiting with bated breath...........

jackiechiles said:I just left the local BOA branch, and one of the personal bankers asked me if I needed an AMEX card. I replied that I already had cards from AMEX proper, as well as the Bank of America AMEX. She said that Bank of America has bought AMEX, and that BOA will be issuing AMEX cards in the future. Anyone else heard this or even find this credible? Might this development enhance the Accolades package if/when it is ever launched?

LOL? What is that banker smoking.

jackiechiles said:I just left the local BOA branch, and one of the personal bankers asked me if I needed an AMEX card. I replied that I already had cards from AMEX proper, as well as the Bank of America AMEX. She said that Bank of America has bought AMEX, and that BOA will be issuing AMEX cards in the future. Anyone else heard this or even find this credible? Might this development enhance the Accolades package if/when it is ever launched?

LMAO the market cap of AMEX is about 40% of BOA. BOA is already super levarged as they been on a buying spree for the last 4 years. Personally I take anything said to me at the local branch with a grain of salt considering Branch Managers make $30-40K a year only. Think about it do you think you get smartest and brightest people for that kinda of money? Hell I know secutaries at Doctors offices who make more than that a year. Hell even LFTM makes more than that on her back.

scott1961 said:
Wow, BoA is paying me more in interest a year than a manager makes?
Don't tell a branch manager that, unless you're ready for tears.

Actually, one of my coworkers used to be a BofA branch manager. And we don't make that much here, so I can believe it.

I am sure there are branch managers out there after working for 20-30 years at the same bank maybe making more than $40K a year. But also remember banks do give nice benfits to there employees like good health insurance, dental insurance, prefered rates on mortgages and other loans products. No balance requirements high end banking products, fee waivers for banking services and credit cards. Paid vactions and bonus, 401K match bonus etc. $30-40K was salary and I was not counting any of the benfits at all.

So with benfits maybe the bank managers might be making $45-50K a year. In Los Angeles atleast most of the bank managers seem to be younger people and dont last very often. By young people I mean people under the age of 40 years old. Just does not seem like a job for life.

Read this in today's paper. Anyone know if this is one of those signature cards that don't report CL? If it does report I figure I will get then reallocate my Blue CL to this one

Boston Globe
Bank lavishes perks on new credit card
Offering targets clients with highest net worth
By Keith Reed, Globe Staff | June 11, 2007

Bank of America Corp. today is rolling out a credit card that will give its most affluent clients perks such as free access to airport luxury lounges, winter excursions with an Olympic skier, and cooking classes with a master chef.

The bank's new Accolades American Express card is one of several that banks, which before 2004 were mostly limited to issuing Visa and MasterCard plastic, are creating in the wake of a regulatory decision that obliterated the card companies' ability to prevent banks from doing business with their competitors, a specialist said.

As a result, Bank of America can now do business with American Express without interference from its rivals, opening the door for it to offer cards to affluent clients who may have shunned other offerings.

"After 2004, banks had more choice in terms of the types of cards they could issue to their customers, and one of the kinds of cards they've been interested in are American Express cards," said Gwenn Bezard , research director at Aite Group , a banking consulting firm in Boston. "If you're high net-worth and a high spender, you will be better off using an American Express product because of the value of what's out there."

That's because American Express charges merchants nearly 2.6 percent in fees for every dollar of transactions done with its cards, compared with less than 2 percent on average for Visa and MasterCard, Bezard said.

That adds up to extra revenue that American Express uses to fund perks that appeal to its wealthy cardholders, the same approach Bank of America is taking with its new card.

"This is just an opportunity for us to leverage the great capabilities of our credit card business to offer something for our most affluent clients," said John Bahnken , president of the bank's Global Wealth & Investment Management Products Group , which is based in Boston.

You have to be a global wealth client with at least $100,000 in net assets to qualify for the card, which carries no annual fee. Bahnken said similar cards typically carry a $295 annual fee.

Cardholders will get free access to 500 luxury airline clubs worldwide, special fantasy vacations, and a program in which cardholders earn points for purchases that can be used to make charitable donations.

One point is earned for every dollar spent, but it takes 250,000 points to convert them to a $2,500 donation. Bank of America will match every donation up to that amount.

Other perks include travel discounts, free companion airline tickets, and concierge services. The card carries an interest rate equal to the prime rate plus 3.99 percentage points.

Keith Reed can be reached at reed@globe.com.

Here is a picture of the card, it does like black, sortof. This also has a copy of the press release that BofA issued)

see: PRNewswire Linky

dolmar said:I dont know what everyone harps on the fact the card is black.
Well you know what they say, "Once you go black you never go back" Doubt I will ask for card, Don't fly and find to many of my large purchases don't accept AMEX