Bank Of America Power Reward Credit Card
Author: quiznut1
Posted: Mon Mar 13, 2006 2:36 pm
Post subject: Latest news - Bank of America Power Rewards Card still 2%
It was previously discussed in this forum about the Bank of America Power Rewards Visa credit card, a card that offered a $1,000 statement credit at 50,000 points (1 point for every dollar you spend). This is a 2% cash back rate, but with the MBNA/Bank of America merger, it was under some suspicion that the 50,000 point reward for $1,000 was going away. The removal of the reward from this website also seemed to confirm that:
Bank of America Power Rewards Visa Platinum
However, after placing 3 calls to the Power Rewards Center in the span of about 3 weeks, which is the very number that customers of this card must call in order to redeem their rewards, the representative's answer has been the same. This 50,000 point reward for a $1,000 statement credit is not going away. The representative has told me each time as well that the reasoning for the removal of the 50,000 point reward from the website above, is that customers are now required to CALL to request this reward. This 50,000 point reward is no longer redeemable online, as well as the 35,000 point reward for $600 (1.5% cashback).
I also asked if there was any chance the 50,000 point reward would be going away in the near future that had anything to do with the merger, or any other reason, and they have consistently told me no.
This means now that this card is still available at a 2% cash back rate if you can earn 50,000 points in 5 years, at a rate of 10,000 points per year (because the points expire after 5 years), 1 point for every dollar you spend. I am definitely thinking of applying for this card when I get out of school.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Board Monitor
Posted: Tue Mar 14, 2006 8:38 am
Post subject: Bank Of America Power Reward Credit Card
Thanks for the update! Interesting. If this offer is still around by this summer, I think I will do the same. I did the math today on my Blue Cash card and I'm earning an effective rebate rate of 1.77%. So, not too far off.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Mon Mar 13, 2006 2:36 pm
Post subject: Latest news - Bank of America Power Rewards Card still 2%
It was previously discussed in this forum about the Bank of America Power Rewards Visa credit card, a card that offered a $1,000 statement credit at 50,000 points (1 point for every dollar you spend). This is a 2% cash back rate, but with the MBNA/Bank of America merger, it was under some suspicion that the 50,000 point reward for $1,000 was going away. The removal of the reward from this website also seemed to confirm that:
Bank of America Power Rewards Visa Platinum
However, after placing 3 calls to the Power Rewards Center in the span of about 3 weeks, which is the very number that customers of this card must call in order to redeem their rewards, the representative's answer has been the same. This 50,000 point reward for a $1,000 statement credit is not going away. The representative has told me each time as well that the reasoning for the removal of the 50,000 point reward from the website above, is that customers are now required to CALL to request this reward. This 50,000 point reward is no longer redeemable online, as well as the 35,000 point reward for $600 (1.5% cashback).
I also asked if there was any chance the 50,000 point reward would be going away in the near future that had anything to do with the merger, or any other reason, and they have consistently told me no.
This means now that this card is still available at a 2% cash back rate if you can earn 50,000 points in 5 years, at a rate of 10,000 points per year (because the points expire after 5 years), 1 point for every dollar you spend. I am definitely thinking of applying for this card when I get out of school.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Board Monitor
Posted: Tue Mar 14, 2006 8:38 am
Post subject: Bank Of America Power Reward Credit Card
Thanks for the update! Interesting. If this offer is still around by this summer, I think I will do the same. I did the math today on my Blue Cash card and I'm earning an effective rebate rate of 1.77%. So, not too far off.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 1:35 AM
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