Bank of America Power Rewards Credit Card Phasing Out 1.5% and 2% Cash Back Offer
Guest: quiznut1
Credit Expert (100+ Posts)
Post subject: Bank of America Power Rewards Credit Card Phasing Out 1.5% and 2% Cash Back OfferPosted: Fri Jun 30, 2006 2:57 pm
I realize this is a repost, but I feel this topic merits its own discussion...
I just called the Power Rewards Center at 1-888-434-2232, and they told me they will indeed be phasing out BOTH the 30,000 point reward (for $450 statement credit, 1.5% cash back), and the 50,000 point reward (for $1,000 statement credit, 2% cash back). She did not know when the phase out will occur, which is disappointing because I specifically asked her, "so, possibly by the end of this year?" She did not know.
Anyway, she said the highest cash back reward would be 20,000 points for a $200 statement credit, only 1% cash back. This officially makes this card not worth your time. It really is too bad. I am now not going to be applying for this card as I originally planned.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Fri Jun 30, 2006 7:12 pm
[quote="quiznut1"]I realize this is a repost, but I feel this topic merits its own discussion...
I just called the Power Rewards Center at 1-888-434-2232, and they told me they will indeed be phasing out BOTH the 30,000 point reward (for $450 statement credit, 1.5% cash back), and the 50,000 point reward (for $1,000 statement credit, 2% cash back). She did not know when the phase out will occur, which is disappointing because I specifically asked her, "so, possibly by the end of this year?" She did not know.
Anyway, she said the highest cash back reward would be 20,000 points for a $200 statement credit, only 1% cash back. This officially makes this card not worth your time. It really is too bad. I am now not going to be applying for this card as I originally planned.[/quote]
This is a bummah.
I have had this cahd about a yeeah and I just made crossed 9500.oo in purchases, I was well on my way to that 2%er.
WTH.
_________________
Humor free posting since June, 2006
Avg FICO 738
2 reports full of perfection
1 report with 1 derog.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Sat Jul 01, 2006 9:55 am
I was afraid this would happen. If you remember correctly, this was a fear I pointed out several months back. Fortunately, I only have a few thousand points on the card.
Lesson learned is to stick with the tried and true rebate cards!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
Last edited by Board Monitor on Wed Jul 19, 2006 3:13 pm; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Wed Jul 19, 2006 2:10 pm
Hi everyone,
I want to bring this issue back to the forefront because I have an update:
I called the BOA Power Rewards Center again, and to summ it up, here is what they told me:
- Every year/couple of years, there is a brand new Power Rewards catalog that is released, which shows the rewards that will be available for at least 1 year (Each Power Rewards catalog from 2001 to the present has lasted at least one year).
- Power Rewards has been around since 2001, and has undergone a few changes in the rewards in the catalog, however, cash rebates have remained the same since the beginning (point levels = cash back)
- The brand new Power Rewards catalog (The person I spoke with did not know when it would take effect. The soonest he said would be the start of next year, but it could be "years" according to him) does not list the 30,000 point reward for $450 cash back (1.5%), or the 50,000 point reward for $1,000 cash back (2%).
- Despite this, the person I spoke with told me that the 30,000 and 50,000 point rewards will remain in effect until at least the end of this year, with a possibility that they will not go away at all (despite the 30,000 and 50,000 point rewards not being in the new catalog). He finds no reason why the cash rebate levels would go away when they have remained unchanged for the last 5 years.
To summ it up, the 1.5% and 2% redemption levels are good at least till the end of this year. I am going to attempt to contact the people responsible for publishing the Power Rewards catalog as a whole. The Power Rewards center did not have a phone number for them, but I am going to try to call customer service and work my way up from there.
I'll keep ya'll posted!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Jul 19, 2006 3:14 pm
Thanks for the follow-up quiznut!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Bank of America Power Rewards Credit Card Phasing Out 1.5% and 2% Cash Back OfferPosted: Fri Jun 30, 2006 2:57 pm
I realize this is a repost, but I feel this topic merits its own discussion...
I just called the Power Rewards Center at 1-888-434-2232, and they told me they will indeed be phasing out BOTH the 30,000 point reward (for $450 statement credit, 1.5% cash back), and the 50,000 point reward (for $1,000 statement credit, 2% cash back). She did not know when the phase out will occur, which is disappointing because I specifically asked her, "so, possibly by the end of this year?" She did not know.
Anyway, she said the highest cash back reward would be 20,000 points for a $200 statement credit, only 1% cash back. This officially makes this card not worth your time. It really is too bad. I am now not going to be applying for this card as I originally planned.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Fri Jun 30, 2006 7:12 pm
[quote="quiznut1"]I realize this is a repost, but I feel this topic merits its own discussion...
I just called the Power Rewards Center at 1-888-434-2232, and they told me they will indeed be phasing out BOTH the 30,000 point reward (for $450 statement credit, 1.5% cash back), and the 50,000 point reward (for $1,000 statement credit, 2% cash back). She did not know when the phase out will occur, which is disappointing because I specifically asked her, "so, possibly by the end of this year?" She did not know.
Anyway, she said the highest cash back reward would be 20,000 points for a $200 statement credit, only 1% cash back. This officially makes this card not worth your time. It really is too bad. I am now not going to be applying for this card as I originally planned.[/quote]
This is a bummah.
I have had this cahd about a yeeah and I just made crossed 9500.oo in purchases, I was well on my way to that 2%er.
WTH.
_________________
Humor free posting since June, 2006
Avg FICO 738
2 reports full of perfection
1 report with 1 derog.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Sat Jul 01, 2006 9:55 am
I was afraid this would happen. If you remember correctly, this was a fear I pointed out several months back. Fortunately, I only have a few thousand points on the card.
Lesson learned is to stick with the tried and true rebate cards!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
Last edited by Board Monitor on Wed Jul 19, 2006 3:13 pm; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Wed Jul 19, 2006 2:10 pm
Hi everyone,
I want to bring this issue back to the forefront because I have an update:
I called the BOA Power Rewards Center again, and to summ it up, here is what they told me:
- Every year/couple of years, there is a brand new Power Rewards catalog that is released, which shows the rewards that will be available for at least 1 year (Each Power Rewards catalog from 2001 to the present has lasted at least one year).
- Power Rewards has been around since 2001, and has undergone a few changes in the rewards in the catalog, however, cash rebates have remained the same since the beginning (point levels = cash back)
- The brand new Power Rewards catalog (The person I spoke with did not know when it would take effect. The soonest he said would be the start of next year, but it could be "years" according to him) does not list the 30,000 point reward for $450 cash back (1.5%), or the 50,000 point reward for $1,000 cash back (2%).
- Despite this, the person I spoke with told me that the 30,000 and 50,000 point rewards will remain in effect until at least the end of this year, with a possibility that they will not go away at all (despite the 30,000 and 50,000 point rewards not being in the new catalog). He finds no reason why the cash rebate levels would go away when they have remained unchanged for the last 5 years.
To summ it up, the 1.5% and 2% redemption levels are good at least till the end of this year. I am going to attempt to contact the people responsible for publishing the Power Rewards catalog as a whole. The Power Rewards center did not have a phone number for them, but I am going to try to call customer service and work my way up from there.
I'll keep ya'll posted!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Jul 19, 2006 3:14 pm
Thanks for the follow-up quiznut!
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
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 5:58 PM
0 Comments:
Post a Comment
<< Home