Bank of America Power Rewards Credit Card Changes
Guest: TomfromCT
Credit Expert (100+ Posts)
Post subject: Bank of America Power Rewards Credit Card Changes
Posted: Wed Jul 19, 2006 4:04 pm
You rock Quiz.
I hope that 2% rebate stays around for another 4 years though...
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Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Wed Jul 19, 2006 8:48 pm
Hi everyone,
Wow, that was a quick turnaround. Well, bad news. This issue is definitely closed. Here is a summary of the transcript of my call to Power Rewards this evening:
Adam: Thank you for calling the Power Rewards center, my name is Adam, how can I help you today?
Justin: Hi Adam, my name is Justin, I have a question for you.
Adam: Yeah...
Justin: I am not a Power Rewards cardholder, and I'm interested in this card, however, I was reading in some online threads that you guys are phasing out the 30,000 and 50,000 point cash rebate rewards, is this true?
Adam: Yes, that is correct.
Justin: Okay, there was some confusion in the threads and some people thought it might stick around, some people (including myself thought it was going to be phased out), but this is good information to know. Approximately what time frame are they looking at phasing this out?
Adam: They've been talking about this for a while, possibly by October. We've already taken action by removing the rewards from the website (remember when that happened 6 months ago?), and for sure this will be complete by the end of this year as the new catalog comes out.
Justin: So, but, you do know for sure that this will be phased out? No doubt?
Adam: Yes sir.
Justin: And the highest rewards that will be available is 20,000 points for $200 cash?
Adam: Yes sir.
Justin: Some people were speaking of the 30,000 and 50,000 point rewards still being available, and that they will be available until the end of this year, is that true?
Adam: Yes, they will still be available until at least October, if not at the end of the year.
Justin: If you don't mind me asking, can you tell me where you got your information about the phase out of these rewards?
Adam: Umm....from Bank of America
Justin: Well, I mean, anyone specifically?
Adam: Well...the representatives...
Justin: Representatives? Like, customer service representatives?
Adam: Yeah.
Justin: And where did the customer service representatives get it from?
Adam: Well, I'm sure they got it higher up, just like a chain, it flowed down to us from the top.
Justin: Okay, thank you for your time sir, I appreciate it.
Anyway, one thing I noticed about the conversation was that Adam did not ask for my Power Rewards number at the beginning. Until then, every other Power Rewards representative asked for it. It shows me that he was determined to help me from the get go and was very confident when he gave his answers. Every other representative I spoke with hesitated when I asked them these same questions, having to talk to their supervisor or something.
Anyway, that's all she wrote. Scratch the Power Rewards card. No longer 2%, only 1% at the most by the year 2007. Real bummer.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: vasili1
Posted: Wed Jul 19, 2006 9:18 pm
quiznut-I got off the phone w/them a few days ago and they are not canceling it....I think we are all making a mistake by calling and raising a inquiry about this.....let a sleeping dog lie......
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Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Thu Jul 20, 2006 1:07 pm
Quote:
quiznut-I got off the phone w/them a few days ago and they are not canceling it....I think we are all making a mistake by calling and raising a inquiry about this.....let a sleeping dog lie......
Thanks for your post vasili1, but I am pretty much going to ditch my original plans to apply for the BOA Power Rewards card. After talking to the representative, it's not a matter of if the phase out will occur, but when. The guy spoke plain English, which means he obviously knew what he was talking about. I hate to see it go, but it happens.
Anyway, I'm going to be applying for the Citi Diamond Preferred Rewards card in about a week. They have a promo going on right now (See This Thread) that if you apply by 9/15/06 under the offer code F1G7, you will receive 2 thank you points per dollar on every purchase for one year. You'll also receive a $100 gift card after the first purchase.
The Citi Diamond Preferred Rewards card is the equivalent of 2% cash back (for 1 year) except the points are best redeemed for gift cards (5,000 points = $50 gift card for a number of merchants), which is okay by me. I am thinking this card will have to do until they come out with another 2% card, or I find out in 2007 that by some miracle, the 2% cash back option for Power Rewards still exists. Another thing, I already have the Citi MtvU Visa, which earns thank you points, and after calling Citibank last night, I found out I can have both accounts hooked up to a single Thank You network account. This means that the points I'd earn from both cards can be combined to form a single total, so I'll get my rewards quicker. It looks like this is going to be the best option for me right now.
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 Changes
Posted: Wed Jul 19, 2006 4:04 pm
You rock Quiz.
I hope that 2% rebate stays around for another 4 years though...
_________________
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: quiznut1
Credit Expert (100+ Posts)
Posted: Wed Jul 19, 2006 8:48 pm
Hi everyone,
Wow, that was a quick turnaround. Well, bad news. This issue is definitely closed. Here is a summary of the transcript of my call to Power Rewards this evening:
Adam: Thank you for calling the Power Rewards center, my name is Adam, how can I help you today?
Justin: Hi Adam, my name is Justin, I have a question for you.
Adam: Yeah...
Justin: I am not a Power Rewards cardholder, and I'm interested in this card, however, I was reading in some online threads that you guys are phasing out the 30,000 and 50,000 point cash rebate rewards, is this true?
Adam: Yes, that is correct.
Justin: Okay, there was some confusion in the threads and some people thought it might stick around, some people (including myself thought it was going to be phased out), but this is good information to know. Approximately what time frame are they looking at phasing this out?
Adam: They've been talking about this for a while, possibly by October. We've already taken action by removing the rewards from the website (remember when that happened 6 months ago?), and for sure this will be complete by the end of this year as the new catalog comes out.
Justin: So, but, you do know for sure that this will be phased out? No doubt?
Adam: Yes sir.
Justin: And the highest rewards that will be available is 20,000 points for $200 cash?
Adam: Yes sir.
Justin: Some people were speaking of the 30,000 and 50,000 point rewards still being available, and that they will be available until the end of this year, is that true?
Adam: Yes, they will still be available until at least October, if not at the end of the year.
Justin: If you don't mind me asking, can you tell me where you got your information about the phase out of these rewards?
Adam: Umm....from Bank of America
Justin: Well, I mean, anyone specifically?
Adam: Well...the representatives...
Justin: Representatives? Like, customer service representatives?
Adam: Yeah.
Justin: And where did the customer service representatives get it from?
Adam: Well, I'm sure they got it higher up, just like a chain, it flowed down to us from the top.
Justin: Okay, thank you for your time sir, I appreciate it.
Anyway, one thing I noticed about the conversation was that Adam did not ask for my Power Rewards number at the beginning. Until then, every other Power Rewards representative asked for it. It shows me that he was determined to help me from the get go and was very confident when he gave his answers. Every other representative I spoke with hesitated when I asked them these same questions, having to talk to their supervisor or something.
Anyway, that's all she wrote. Scratch the Power Rewards card. No longer 2%, only 1% at the most by the year 2007. Real bummer.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: vasili1
Posted: Wed Jul 19, 2006 9:18 pm
quiznut-I got off the phone w/them a few days ago and they are not canceling it....I think we are all making a mistake by calling and raising a inquiry about this.....let a sleeping dog lie......
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: Thu Jul 20, 2006 1:07 pm
Quote:
quiznut-I got off the phone w/them a few days ago and they are not canceling it....I think we are all making a mistake by calling and raising a inquiry about this.....let a sleeping dog lie......
Thanks for your post vasili1, but I am pretty much going to ditch my original plans to apply for the BOA Power Rewards card. After talking to the representative, it's not a matter of if the phase out will occur, but when. The guy spoke plain English, which means he obviously knew what he was talking about. I hate to see it go, but it happens.
Anyway, I'm going to be applying for the Citi Diamond Preferred Rewards card in about a week. They have a promo going on right now (See This Thread) that if you apply by 9/15/06 under the offer code F1G7, you will receive 2 thank you points per dollar on every purchase for one year. You'll also receive a $100 gift card after the first purchase.
The Citi Diamond Preferred Rewards card is the equivalent of 2% cash back (for 1 year) except the points are best redeemed for gift cards (5,000 points = $50 gift card for a number of merchants), which is okay by me. I am thinking this card will have to do until they come out with another 2% card, or I find out in 2007 that by some miracle, the 2% cash back option for Power Rewards still exists. Another thing, I already have the Citi MtvU Visa, which earns thank you points, and after calling Citibank last night, I found out I can have both accounts hooked up to a single Thank You network account. This means that the points I'd earn from both cards can be combined to form a single total, so I'll get my rewards quicker. It looks like this is going to be the best option for me right now.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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