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So FNBO has had a new Amex card with a 6.95% APR and 1.5% in rewards advertised for a month or so. I meant to call, but never got around to it, then today I did call and simply asked them if I could convert to that card. I already have their other Amex, but the rewards are not that great in comparison with other rewards that I have, i.e. Sallae Mae, BCP, QS, etc., etc.
I figured hey, the rewards on this would be the same as my 3 QS cards. (Yes, I have three QS cards. It had to do with rebuilding and CapOne policies. I got the last one, Signature version, because of their no credit limit increase policiy from before.) I figured with that rewards structure I could replace the main QS card I use, as I have little love for CapOne, some love, just not enough that if I had another choice for an everyday card with the same rewards I would switch.
No product changes. Three levels up, including to someone who said they worked for the 'Office of the President' and the answer still remained the same. Can't do it, the laws don't allow it. OK, am I mistaken about this, but from my understanding of the 'laws' they refer to, this is simply not 100% correct. To my knowledge the laws didn't allow them to change terms in the first 13 months or change terms without notifying us in advance. They did also refer to company policy, but it seemed liked they wanted to make it seem like the biggest reason was the laws.
The EO lady did not seem happy that she had to take this call. I wonder how many others have asked the same question? I mentioned that other companies allow PC'ing and she said she didn't know of any. She even stated that she was a Discover customer and had asked to switch her card with them and was denied. I countered that other banks do do it. Amex itself does it, CapOne does it, Chase does it, Barclays does it, BofA, and the list could continue.
Has anyone else ever tried to PC with FNBO? Have you been successful? What was your strategy?
I am not that concerned with the APR, but it is a nice fall back option if I did have to revolve a balance. The points structure was the main reason for the call. They did say they would try and see if the point structure could be changed and to call back in a few days to find out. But it did a bit of pressing. When I did say that the APR was not that big of a deal, it really isn't, and I do have a balance transfer with them at 5.99% until it is paid off. Not really my balance, it is my niece's balance, since she can't handle credit the same way I can. (In fact, no one in my family can!) I almost transferred the balance right then to another card out of frustration, however the no time limit is rather nice, but I will check my offers with other banks to see if I can do it and it will save my niece money! Maybe if I let the card sit at $0 for a while they might be more responsive to what I requested?
Yes, I do understand 'bank policy' and all that jazz. It was bank policy with CapOne which actually led me to have all the great cards I do have.
@plastic_man wrote:
OP, a couple weeks back I applied for this card and they declined for too much inquiries. I asked if I could PC from the old AMEX to this one , and they said NO. Told me Company Policy. Last week I got an email from FNBO regarding spending $2500 until July and get $150 cash back. I won't get new card but I'll take $150 free cash.😀😀
Did they give you an instant decision? Had you been using your card often to get that email offer?
I tried to PC mine to the newer card, no go. They would have taken my app over the phone since Im current customer but I already have QS at 1.5 percent and I can get lower rate than that from FNBO to carry balances.
OP - FNBO simply does not entertain any PCs. You can contact them until you're blue in the face, you'll get the same outcome. This is just part of their lending policies (not sure why they would quote restrictions based on legislation but the Card Act would mainly address fee-based products or specific ones where the APR or product-pricing may be concerned).
They never gave me an instant answer. Just an email a few hrs later.
Once you're in. They seem like a pretty decent company. Never had a problem with them. And they do make payments and all very easy. Now if they would just double my limit..............