New BofA Accelerated Cash Back AmEx

[Anonymous]

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UpUpUp wrote:

I wasn't really directing the comment towards you. It seemed that the other posters thought it was a pretty sweet deal and i couldn't figure out why. Though I went to visit the BofA site and it seems that 1.25% is the highest reward they give...so maybe that's why.

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Yep, that's pretty much it.

For me, it's also because I have the standard Rewards Amex, and have tried a couple of times to product change to an Accelerated Rewards Amex (which earns 1.25 points per dollar), but with no success.  Meanwhile I see others pulling it off without a hitch.

Now that they've come out with a cashback version of Accelerated Rewards, it just makes me that much more frustrated.

[Anonymous]

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FretlessMayhem wrote:
It's so cool looking!

Plus, 1.25 percent back on all purchases is better than the vanilla Platinum Plus cards.

I am thinking hard about donating some of my 19.5K CL on my Platinum Plus MC to open one of those.

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Yeah, I got it now. After seeing that the majority of their cards are 1% rewards and some are NOTHING...like mine...I guess 1.25% is a good deal if you already have a BofA card. I guess I was looking from the mindset that it didn't seem like a big deal as a newly apped for card because there are other banks that give you the same or more for everyday spending. . 

Quick question...a while back I lost my BofA card. While I did keep my history it shows up as another TL on my report with a new number.  When I pull my reports it shows a higher number of account because it includes the lost card there as well.  Does the same thing happen when you do a product change, or can you keep your account number, etc.?

Message Edited by UpUpUp on 07-25-2008 12:30 PM

[Anonymous]

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cheddar wrote:

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UpUpUp wrote:

I wasn't really directing the comment towards you. It seemed that the other posters thought it was a pretty sweet deal and i couldn't figure out why. Though I went to visit the BofA site and it seems that 1.25% is the highest reward they give...so maybe that's why.

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Yep, that's pretty much it.

For me, it's also because I have the standard Rewards Amex, and have tried a couple of times to product change to an Accelerated Rewards Amex (which earns 1.25 points per dollar), but with no success.  Meanwhile I see others pulling it off without a hitch.

Now that they've come out with a cashback version of Accelerated Rewards, it just makes me that much more frustrated.

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Aaah. I wonder why they are being such jerks about it? I can see why you would be frustrated. What was the reason they gave you when they said no?

In any case,  I guess that puts the kabosh on my trying to product change from my standard no rewards card to something impressive (by BofA standards anyway). 

[Anonymous]

I bookmarked this link late last year.....

http://www.bankofamerica.com/promos/jump/amex_cashrewards2/?cm_sp=Cons-CC-_-Card%20-%20BAC%20Amex-_-...

[Anonymous]

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UpUpUp wrote:

Aaah. I wonder why they are being such jerks about it? I can see why you would be frustrated. What was the reason they gave you when they said no?

In any case,  I guess that puts the kabosh on my trying to product change from my standard no rewards card to something impressive (by BofA standards anyway). 

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Well, the first time I asked, I had only had my card a few weeks.  They said the product change was done and that I could expect my new card in the mail in a few weeks.  When the card never showed up, I called to ask where it was, and only then did they bother to inform me that the decision had been reversed because my account was too new.  They told me to ask again in a few months.

So a few months later, I tried again, and they told me, "No problem.  We'll get that taken care of for you."  I'm glad I had the presence of mind to ask whether it would involve a hard pull and a new account, because the answer was yes to both questions.  I politely declined the offer at that point.

The frustrating part is that I read stories here of seamless product changes on new BofA accounts all the time.  I think I've just had bad luck with the credit analysts I've gotten when I called, but I'm not going to try again until I've had the card for a year.

[haulingthescoreup]

To my, the "rewards" for BofA cards are their frequently high CL's, similar to CU cards. Anything else is icing. But it's definitely true that 1.25% is not that startling in this day and age.

I'd be more excited about the cash back. I'm not a huge fan of points cards, because you generally need a bunch to get a 1-for-1 cash out, and I don't like having to poke through their shopping offers. (Yes, I know that some are great.)

But a high-limit BofA card with one-and-a-quarter cash back, that would be pretty slick. It would complement my lower-limit cards with better rewards.

[Anonymous]

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haulingthescoreup wrote:

I'd be more excited about the cash back. I'm not a huge fan of points cards, because you generally need a bunch to get a 1-for-1 cash out, and I don't like having to poke through their shopping offers. (Yes, I know that some are great.)

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The BofA WorldPoints program is especially bad in that regard.  To get a 1:1 rate, you need to accumulate no fewer than 25,000 points for a $250 statement credit.  That's an awful lot.

Citi ThankYou Network, by comparison, gives you 1:1 with as few as 10,000 points, although that's in the form of gift cards.

Message Edited by cheddar on 07-25-2008 10:31 AM

[WhirledPeasPlease]

Total Points: 8,874 WorldPoints^sm in 4 months.

Ugh.  I just hope I find something 'cool' in the 'get it now' section of their rewards.  I would really like the ability to do a PC to something with the extra .25! 

[athensguy]

It seems to me that the best FIA card for rewards is the Fidelity card, where you can turn 5K Worldpoints into a $75 deposit into your Fidelity account.

[Anonymous]

Thanks, Guys! Cheddar, don't you love it when that happens. My orchard card (Still keep it cuz they waive the fees for me) was supposed to be upgraded to Platinum. Come to find out they downgraded me to the classic version. I was already in gold status and have PERFECT payment history for over 2 years. I had to call and speak to a supervisor who confirmed it was a mistake but the system would not let her put me up to platinum because I was now in the classic category. I had to write a letter and use the term "operator error" per their suggestion in order to get it fixed and honestly, I'm not even sure if it's been fixed or not. I haven't checked and it was over a month ago. Whatever...at this point I only keep it because it's free. But, it just goes to show you the misinformation and the issues that can happen when you call.  I should have left well enough alone. Hehe.

Welp, my BofA card is only a $2k CL, so I guess that wipes me out of obtaining a cooler card with them for the whopping rewards programs. Though, I sure wouldn't do it if it was going to cost me a hard and a new account. Arghhhh....