• 179 80 818283128
  • Page
  • Text Only
scottsd said:   Just got my letter today from BofA, and all it said was that "Your credit card and all account benefits are still active" -- tho on reflection, I see it makes no promise for the _future_ .

What else did the letter say? Why would they send a "nothing is changing.... yet"

Was it part of a bill insert? Can you post a synopsis for those of us traveling?

nymgiants said:   i recenty got my card replaced becuase bofa perceived fraud. The card i received has a very different look, is not called schwab, its a fia cash rewards and it still has 2% Cash Back as my statement closed 2 days ago after some additional purchases with the new card, so not sure if another change is coming, but i still get 2% on my fia cash rewards card.

on a seperate note. I dont see anything about platinum level on BOFA site, does anyone have a link to the page


That's not the change that everyone is speculating about. This card hasn't been sponsored by Schwab for months. Your statements and your online account should have reflected the Fia branding for quite some time.

Sorry, should have given more details.
Below is the (more or less) complete text of the letter I received today. It came in
its own envelope (NOT as a bill insert), and the return address on the envelope was
"FIA Card Services". Note, however, that the letter itself had a BofA logo for the letterhead.

------------------------------------------------------------------------------------
From: Bank of America

"(Scottsd):
We'll be replacing your current card with a new Bank of America credit card.

We are writing to inform you that your FIA Card Services credit card ending in XXXX
will soon be replaced by a new Bank of America credit card.

* What you need to do and what's next
Take a moment to review the enclosed Privacy and Affiliate Marketing Notices...
Your credit card and all account benefits are still active, so please continue using
your account until your new Bank of America card arrives.
Remember, continued use of your card and/or receipt of a new card requires your account
to be open and available for use in accordance with the terms of your Credit Card Agreement.

Soon, you will receive more details from Bank of America about your replacement credit card, as well as information on other products available to you -- including Bank of America checking and savings accounts and investment services through Merrill Edge.

* What to expect from Bank of America
Bank of America provides products that deliver value, service and security... (Blah)

------------------------------------------------------------------------------------

RadioActive said:   scottsd said:   Just got my letter today from BofA, and all it said was that "Your credit card and all account benefits are still active" -- tho on reflection, I see it makes no promise for the _future_ .

What else did the letter say? Why would they send a "nothing is changing.... yet"

Was it part of a bill insert? Can you post a synopsis for those of us traveling?

It was a separate letter. It basically said - you'll soon be getting a new BofA credit card to replace your existing FIA card. Stay tuned for more details coming soon.

BostonOne said:   RadioActive said:   scottsd said:   Just got my letter today from BofA, and all it said was that "Your credit card and all account benefits are still active" -- tho on reflection, I see it makes no promise for the _future_ .

What else did the letter say? Why would they send a "nothing is changing.... yet"

Was it part of a bill insert? Can you post a synopsis for those of us traveling?

It was a separate letter. It basically said - you'll soon be getting a new BofA credit card to replace your existing FIA card. Stay tuned for more details coming soon.


I received the same notice. although it didn't state it, I am fearing this is the end of the 2% Cash Back

I missed out on the Schwab 2% deal. However theres a new Capital One 1.50% deal which has 0% FOREX. So its a win win.

Other cards give higher specific rewards than Schwab.

grex23 said:   I missed out on the Schwab 2% deal. However theres a new Capital One 1.50% deal which has 0% FOREX. So its a win win.

Other cards give higher specific rewards than Schwab.


Of course there are bonus category rotators, but this card was great for filling the gaps between those rotating categories. And how is a 1.5% from crap one a win win?

Its Capital One, not Crap One. 0% FOREX, no fees. 1.50% Cash Back along with high interest rate banking. Can pay back the card instantly online.

Schwab's 2% I doubt had 0% FOREX. IF you pay in full with Capital One, you will never have to worry about foreign purchases and you will get 1.50% rebate.

Capital One to me is a lot more competitive than Charles Schwab, though it would have been nice if Capital One had 2% instead of 1.50%, I grant you that.

Its a win-win because of 0% FOREX. Its also a World Mastercard tier card.

Capital One gets a bad reputation because it used to be a bad issuer. But the service levels on the high end cards have been quite good. I wasn't using Capital One for a long time as a credit issuer then the Venture came out and I have been very impressed and would recommend this card to others.

The new card which I don't have is a 1.50% Cash Back instead of 1.25 miles. However it is also a World Mastercard which provides perks that Visa wouldn't have and some of these are quite desirable. Mastercard has constant 50% deals at vendors that rotate for big name stuff (airlines, and lots of other stuff) plus Mastercard has price protection on airfare, and certain stuff that Visa Signature does not have.

grex23 said:   

Schwab's 2% I doubt had 0% FOREX.
Schwab / FIA card indeed has 0% Forex and 2% unlimited CashBack, paid monthly. This is well documented, not sure why you doubt it. It has not been issued in months, so CapOne indeed is one of the best choices for a new issue. It is a Visa signature card and has many benefits, included that parallel MC

grex23 said:   Its Capital One, not Crap One. 0% FOREX, no fees. 1.50% Cash Back along with high interest rate banking. Can pay back the card instantly online.

Schwab's 2% I doubt had 0% FOREX. IF you pay in full with Capital One, you will never have to worry about foreign purchases and you will get 1.50% rebate.

Capital One to me is a lot more competitive than Charles Schwab, though it would have been nice if Capital One had 2% instead of 1.50%, I grant you that.

Its a win-win because of 0% FOREX. Its also a World Mastercard tier card.

Capital One gets a bad reputation because it used to be a bad issuer. But the service levels on the high end cards have been quite good. I wasn't using Capital One for a long time as a credit issuer then the Venture came out and I have been very impressed and would recommend this card to others.

The new card which I don't have is a 1.50% Cash Back instead of 1.25 miles. However it is also a World Mastercard which provides perks that Visa wouldn't have and some of these are quite desirable. Mastercard has constant 50% deals at vendors that rotate for big name stuff (airlines, and lots of other stuff) plus Mastercard has price protection on airfare, and certain stuff that Visa Signature does not have.


The Schwab/FIA 2% card has always been a no FOREX fee card. I know you feel that MC World cards are better then VISA siggy's but that's never been proven. You tend to think what you wish is reality.

It has been proven as to why World Mastercard is superior. Price assurance on airline tickets, 50% off at various vendors (airlines, electronic stores, merchants, whatnot), and more.

Visa signature is better than some World Mastercards because they include all the benefits across the board. However the Chase Sapphire and most likely Capital One World Mastercard provide all the perks and benefits including some of the better ones.

Visa Signature tends to provide some benefits and perks that are worse off to me than what World Mastercard provides which IMHO are superior.

I am missing 2 cards from my portfolio right now:

The Capital One World Mastercard which I want and also the Citi Forward 5% off restaurants. But I really don't like Citibank overall as an issuer.

grex23 said:   Capital One to me is a lot more competitive than Charles Schwab


Makes NO sense to me. How can a card which offers 1.5% be more "competitive" than a card which provides 2%?? . I just used my ex-Schwab FIA card on a trip to Canada and incurred NO foreign exchange fees.

If you seek a "competitive" card, look at the Cap One small business card which gives 2% CashBack.......

clutchcargo777 said:   grex23 said:   I missed out on the Schwab 2% deal. However theres a new Capital One 1.50% deal which has 0% FOREX. So its a win win.

Other cards give higher specific rewards than Schwab.


Of course there are bonus category rotators, but this card was great for filling the gaps between those rotating categories. And how is a 1.5% from crap one a win win?
There has been hints that the replacement card could have rotating bonus categories in the 2.5%-3.5% range. BOA rotating bonuses on existing BOA cards are 1%-2%, so that could possibly mean the new card could have 1.5% base plus 1%-2% rotating bonus. But at this point, this is wild speculation based on what one Fatwaller said that a phone representative said he might be offered a "Privileges" BOA card. Right now, we don't really know anything.

Rebate percentage isn't everything. It all depends on what you are using the card for and the perks provided.

In plenty of cases, additional perks would be worth a lot more to you than .50% in rewards if you utilize them.

"Makes NO sense to me. How can a card which offers 1.5% be more "competitive" than a card which provides 2%?? . I just used my ex-Schwab FIA card on a trip to Canada and incurred NO foreign exchange fees"

Easily. Trip protection, purchase protection or the fact you can get airline tickets 50% off from Mastercard via a promotion. You need to compare everything not just the bonus percentage. IF you utilize the additional perks then it is worth more than the .50%.

I am not sure as to the full extent of perks on the Charles Schwab 2% card. However it is no longer offered and the Capital One World Mastercard provides lots of worthwhile perks so if these weren't offered on the Schwab 2% card, then the World Mastercard while .50% less in rewards is a better deal.

Considering the Schwab is no longer offered plus this card has all the perks and benefits as I just looked at the benefit guide, this one is really really nice.

It wasn't around when I got the Venture which I have been using but I am liking the Chase Sapphire alot which has the WOrld Mastercard tier so its definitely my next card.

Only other card is the Citi Forward 5% on restaurants that I am missing, but I don't like Citibank much. The Chase Sapphire is 2% on restaurants and I believe 2% on travel booked through the website, 1% on everything else, while the Citi Forward would be 5% on dining, and the new Capital One would be 1.50% on everything.

Schwab 2% for those who still have it is fine IF you aren't missing out on perks that are provided on other cards which are worth more than the lost rebate percentage. If you just use them 1 time they will more than pay for the lost rebate and some.

If you have Schwab 2% (which isn't offered anyone) and its good for you then obviously its the card for you if you couldn't make use of the additional perks offered.

For me considering the additional perks and the fact that the 2% isn't offered anymore, the Capital One 1.5% rebate card is definitely one which I will be getting at a later date along with the Citi Forward card. Just hard to balance these 2 cards since both have a 0% Purchase rate.

You make it sound like I can have only 1 card in my wallet. Last time I checked I have 5-6 cards in there.

Or 30 cards. Yeah well I can't get the Schwab for times when the 2% comes in handy. Its not offered anymore. The new Capital One 1.5% fills the void for me and for me its a win win for my next card along with Citi Forward.

The loss of .50% doesn't bother me, but it would be nice if Capital One added a higher percentage perk for certain categories or something at a later date. Chase Sapphire rose the dining percentage 1% to 2% though its still under Citi's 5%.

grex23 said:   Or 30 cards. Yeah well I can't get the Schwab for times when the 2% comes in handy. Its not offered anymore. The new Capital One 1.5% fills the void for me and for me its a win win for my next card along with Citi Forward.

The loss of .50% doesn't bother me, but it would be nice if Capital One added a higher percentage perk for certain categories or something at a later date. Chase Sapphire rose the dining percentage 1% to 2% though its still under Citi's 5%.


But I thought you are passing on the new Cap One card ?
http://www.fatwallet.com/forums/topic_view.php?catid=52&threadid...

"I am not sure as to the full extent of perks on the Charles Schwab 2% card."

Then why the #### are you discussing it?
You are not adding anything meaningful to this thread.

grex23 said:   Its Capital One, not Crap One.

How much is Cap 1 paying you to advertise for them??? 2% > 1.5% and this card ain't quite dead yet for those of us who still have it.

Received my new cards in the mail yesterday. 2% is still alive for now, but my schwab card looked nicer.

Are the new cards proper BofA cards, or did you get the old "new" black boring cards as a normal replacement (iow, the one pictured on FIA's page)

Dannychico said:   Does the Fidelity VISA credit you only in chunks of $50? Or once you hit the 5000 point mark, do they credit you your complete balance? I liked how the FIA card would just give me $80-90 automatically every month.We handle the transfers ourselves ... not automatically as previously mentioned. That is just an option we do not do.
We transfer the Fidelity Visa in units of 2500 points into the Fidelity AMEX account. If the combined points exceed 5000, we sweep (cashout) ALL the points over to the Fidelity trading account. If the total is 6303 points, we manually sweep $63.03 into our Fidelty trading account.

Got my letter yesterday. "new BofA card, more details soon."

Everything goes full circle I guess, last BofA card I had was sold to HSBC, who closed it earlier this month. I have a bank account at BofA so most likely it will show up there on my account screen weeks before they send it out.

Any time this thread comes up I miss a heartbeat, but so far so good.

Got letter today as well. No doubt that BOA will kill rewards to oblivion like they've done to every other card they've acquired so time to move on and use another 2% everything card. Probably will get the Cap 1 small biz one for places not taking AMEX.

Shandril said:   Got letter today as well. No doubt that BOA will kill rewards to oblivion like they've done to every other card they've acquired so time to move on and use another 2% everything card. Probably will get the Cap 1 small biz one for places not taking AMEX.

BofA didn't acquire this card. It's always been under the BofA umbrella. As I understand it, the FIA division of BofA is used for cards affiliated with other banks and brokerages. It wouldn't make much sense, when you have a Schwab or Fidelity card, to have to go to bankofamerica.com to log into your credit card account. Now that the card is no longer affiliated with Schwab, there's no reason to hide the BofA brand anymore. It's probably not a coincidence that this is happening one year after Schwab ended their affiliation with this card. I would guess that BofA was contractually obligated to keep the BofA brand off of the card for a certain period of time.

Markb1024 - I was just thinking that the replacement might be Merrill branded. The letter mention's Merrill services, plus it would drive people to BOFA's brokerage. We can only wait and see.

RadioActive said:   Are the new cards proper BofA cards, or did you get the old "new" black boring cards as a normal replacement (iow, the one pictured on FIA's page)

Nope. Plain black card. Cash rewards on top left, Visa Signature on bottom right.

Already paid for work expenses on it as it is way too similar to my corporate card.

Applied for aarp yesterday.

Shandril said:   Got letter today as well. No doubt that BOA will kill rewards to oblivion like they've done to every other card they've acquired so time to move on and use another 2% everything card. Probably will get the Cap 1 small biz one for places not taking AMEX.

That's my plan as well. You can obtain the small business card simply by listing yourself as a "sole proprietor"; hey, selling goods on craigslist or eBay makes one a business man/woman. If you need a second card for a husband/wife, you have to instead declare yourself as incorporated or in a partnership.

scottsd said:   Just got my letter today from BofA, and all it said was that "Your credit card and all account benefits are still active" -- tho on reflection, I see it makes no promise for the _future_ .

same here... I hope it lasts, if not it's been a great run

Of course, I realize that issuers are free to change the terms of their cards at any time. However, it's a pain as a consumer to have to then change all of my automatic withdrawals (mostly utilities,phones,cable,etc) to another card. I'll still get the 2% elsewhere,but it's a hassle........

sayhey said:   Shandril said:   Got letter today as well. No doubt that BOA will kill rewards to oblivion like they've done to every other card they've acquired so time to move on and use another 2% everything card. Probably will get the Cap 1 small biz one for places not taking AMEX.

That's my plan as well. You can obtain the small business card simply by listing yourself as a "sole proprietor"; hey, selling goods on craigslist or eBay makes one a business man/woman. If you need a second card for a husband/wife, you have to instead declare yourself as incorporated or in a partnership.

Last I heard, sole proprietorships can have employees. It all depends on the documentation you (or the employee) would have to provide to the CC issuer to support that. Note: I haven't tried this am just speculating.

How does the Cap One Biz redemptions work? It looks like, by default at least, they payout at the end of the year but that you can request at any time too. Is there any minimum amount? Or maximum times annually you can redeem?

I was going to switch brokers to Fidelity to get their AMEX with this card dieing, but I'd rather have a Visa anyways, so this would be a better fit. And I like Schwab for the most part as a broker/checking account.

ETA: Nevermind, I forgot this is the $60 annual fee card. As a college student with lower spending than most here, I don't think it'd be worth it yet.

I just got my BoA letter today. I was incensed because I just had my card reissued because of the recent fraud issue--Changing card numbers is a PITA. Forgetting to check this thread first, I called in and verified that they would indeed be changing my number again.

Once I got over that shock, I asked a few more questions. Here's the info I got:

New card number in mid October.
2% rewards ends December 17th. Merry Christmas!

New rewards program:
  • 1% for everyday purchases
  • 2% for Groceries (I think that's what it was)
  • 3% for Gas

I figured it would be a flat 1%, so this is a tad better, but totally not worth it if we get an annual fee.

I'm a Quicken user, and since FIA/BoA only updates the downloads once a month, I don't think any FIA card will be worth it to me. I really like the daily updates that most every other card offers. I can't remember what I bought 45 days later when FIA finally downloads transactions..

I'm not sure what I'll do in the long term, but I likely will switch to one of my bazillion Chase cards once the 2% disappears.

GameOn said:   New card number in mid October.
2% rewards ends December 17th. Merry Christmas!

New rewards program:
  • 1% for everyday purchases
  • 2% for Groceries (I think that's what it was)
  • 3% for Gas




Wow, that stinks. I live in the middle of a big city, don't drive a car, and therefore spend nothing on gas. And with American Express offering 3% Cash Back for groceries for free, or 6% for $75 per year, getting 2% on groceries is kind of a waste.

Ugh...got the dreaded letter of doom today. Grawr

Anyone got a link handy for the Fidelity 2% AMEX? The only ones I can find only deposit to retirement accounts.

oops nm.

ensignlee said:   Ugh...got the dreaded letter of doom today. Grawr

Anyone got a link handy for the Fidelity 2% AMEX? The only ones I can find only deposit to retirement accounts.
This link is straight from the Fidelity website. There is NOT a restriction to retirement accounts. This link verifies that.
Questions:
FW thread on Fidelity's rewards cards (both of them)

GameOn said:   
New rewards program:

Forex fee?

I got the dreaded BOA letter today - it's time to find a replacement. Thanks to GameOn for providing an update on the changes to the reward structure.

  • Archived From: ForumsFinance

  • 179 80 818283128
  • Page


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014